What's up brand builders Stephen Houraghan here at BrandMasterAcademy.com and in this video you're
going to learn how to reposition a brand with this six step process so you can analyze the need
to pivot the brand strategy and create a new position with refocused intent
now if you're new to the channel and you want to build brands that go beyond the visuals using
strategy psychology and creative thinking then you're in the right place hit that subscribe
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the pro brand strategy blueprint it's a free download and the link is in the description
now i created a video recently called what is repositioning with top strategy examples now
if you haven't seen that yet i'll leave a link in the description below you can check that out
but to recap repositioning in a nutshell is the process a brand goes through to adjust or
overhaul its perception in the market to better appeal to its target audience so they see the
brand as a more viable option so why reposition a brand in the first place well there are many
different reasons that a brand's leadership team might decide to reposition the brand
now more often than not this is reactionary and they happen as a result of lower than expected
results which could mean low brand awareness low market share low sales or low revenue but the
decision to reposition a brand isn't always based on per performance either quite often
repositioning happens as a result of great performance and subsequent opportunities to
grow and expand into bigger markets so let's take a look at some of the common reasons
for repositioning number one evolving markets now markets aren't static they're made up of people so
by nature they're always changing they're always evolving what's important to consumers today may
not be as important to them tomorrow or it may be twice as important so whether it's a change
in demand a change in knowledge change in society or any of the other countless ways people change
markets aren't a place for static entities number two a change in target audience now as businesses
grow so do their capacity to help more of the same people or more people in general what works at a
brand level in appealing to one specific market segment might not work when it comes to appealing
to a broader market made up of multiple market segments segments are simply groups of people so
a brand's plan to expand if they have one they need to consider the people who they want to
expand into the markets who they want to expand into and how they're going to appeal to those
broader markets brands that want to go after a broader or a completely different target audience
may need to consider whether their existing position will cut the mustard number three change
or growth in product portfolio now positioning happens at both a brand and a product level but
product repositioning happens less frequently than brand repositioning because products rarely change
their intended purpose for their intended audience now that said as products are introduced and the
portfolio of products grows brand repositioning may be required if the portfolio expands outside
alignment with the brand's original position number four signal a new approach an era now
heritage brands with decades or even centuries of brand equity may need to refresh their position
over time to adapt to changing landscapes to adapt to changing market conditions but
like a crab shedding its shell some brands will go through transformations to signal the end of an
era and the beginning of a new one and often with the adjustment of how that brand wants to be seen
in the market and what perception it wants to put out there so let's take a look at the six steps
to the repositioning strategy process now if you or your client's brand hasn't been performing or
you want to take advantage of changing conditions then you need processes for your repositioning
strategy so if you follow along with these simple steps then you'll give your brand the best chance
for a successful repositioning campaign now it's important to note that steps one and two are
preliminary and you should complete these before committing to repositioning your brand step number
one audit the existing brand now if the brand you're working on consists only of visuals or it
lacks any strategy then it's not a repositioning project it's a positioning project repositioning
can only occur when there has been decisive action taken to position the brand in the first place
so conduct an extensive order to analyze the brand to uncover the following the target
audience segments the differentiation strategy the brand personality the language and voice the key
messages and stories the brand name and tagline and the visual identity identify any misalignment
and divergence throughout the brand beginning with who the audience is and what they want
step number two confirm assumptions so you want to conduct market analysis to confirm
the assumptions made and to better understand the original target audience now although this target
audience may or may not remain the same it's important to understand the failings of the brand
or to confirm any assumptions that are made about any potential failings of that brand
to use going forward in the repositioning process now focus groups can offer qualitative results
and market surveys can offer quantitative results to achieve statistical significance
step number three redefine the audience now before defining a new position in the market it's really
really important to redefine who the audience is now although your new position might simply aim to
change the perception of the same group of people repositioning is an opportunity to discover new
markets and new people that can potentially want or need that product or service only when you're
crystal clear on exactly who your audience is with all audience personas buyer personas included
then you can determine a position that will really appeal to who they are step number four redefine
the competition now although redefining your target audience is top of the pile in terms of
importance redefining your competitors is not far behind now as i mentioned earlier markets
aren't static they're constantly evolving and new competitive players are evolving all the time and
emerging all the time as well and some of them in hope of disrupting the status quo or at a minimum
stealing your market share so defining a new position needs to consider the options
that are already in the market those options that already exist through your competitors
and your new repositioning strategy needs to consider why your brand is going to be different
when compared to those competitors step number five identify gaps and define your difference
now redefining your audience and your competitive landscape arms you with the tools that you need
to identify what the market wants and what's already available now what's already available
is an indication of where not to play and where to avoid kind of contributing to that market
noise and it gives your brand some breathing space to be noticed as well if you're able to
distance yourself from that pack gaps represent opportunities to attract your audience's attention
with a unique perspective on value or experience so think about what your competitors are not
saying or what they're not doing throughout their offer or experience that your audience would place
value on identify the most valuable opportunity and expand this into a unique difference
that will appeal to your audience and step number six write your positioning statement now once
you've carved out a unique point of difference that you can use to attract your audience it's
time to document that difference in a little more detail now your brand positioning strategy or your
repositioning strategy defines who you're for why you're different who and what you're different to
and the benefit of that difference now i created an article and a video with a brand positioning
template that you can use and i'll leave a link in the description below now repositioning is not an
exercise to be taken lightly there's significant investment at least not of time to reposition your
brand and then to establish that new position in the market but rest assured the cost of not
positioning your brand effectively in the first place or ignoring the need to reposition your
brand will be significantly greater in the long run so take stock of where the brand is at realign
with what your customers want or need and explore whether or not there's a better way to communicate
that you have what they want and repositioning is no more complicated than that now if you want
to get to the foundation of the importance and the processes of the positioning strategy then
this video will help you out until next time brand like a master and i'll see you in the next video