Sometimes a company may find it necessary to shake things up and alter the image of their brand to reach a different or wider audience, but there are many other reasons brands want to reposition in their marketplace. Below I have gathered just a few reasons.
1. To Create More Business Opportunities
If you want to increase sales, you need to hold on to your existing customer base, but you also need to expand your reach to new groups. To win more business, you need more chances at bat. The more you can get your brand in front of potential clients properly positioned, the more brand recognition you’ll establish and the more business opportunities you’ll have. Proper repositioning ensures you get to the plate more often because you can differentiate your brand from others.
2. Win Business More Easily
If you can earn recognition for your expertise, customers will want to work with you because you’ll be seen as reliable and offering meaningful products or services. Confidence and trust makes prospects’ purchase decisions easier. If you’re “on their radar” and properly positioned, you’ll be on the short list from the beginning. You’ll be able to bypass more RFPs. You can negotiate the sale before others even know there’s an opportunity.
3. Increase Relevance and Differentiation to Compete on Something Other Than Price
By establishing your brand’s significance and setting your brand apart from your competitors, you will build cash flow and long-term value in your company because you offer something different that commands a higher price. Clients reposition to help them identify and migrate to positions of leadership in their markets, where there are few credible substitutes. Although a company may think it is already established as different and more valuable, the market may view the company’s offerings as commodities with plenty of reasonable and available substitutes. Repositioning will help a company identify and migrate to positions of leadership in their markets, where there are few credible substitutes.
Ready, Set, Reposition
Repositioning your brand can help expand your reach and your customer base, while making it easy to convert sales and increase the value of your company. To learn more about why a company may want to seek repositioning head to our brand Proteus B2B’s site.