Brand positioning is not a set-it-and-forget-it proposition.
It is fluid and changes for different reasons:
• The economic landscape: When times are good, companies put the spotlight on how customers can drive more business. When there is an economic downturn, your positioning may have to highlight cost savings and productivity.
• Customer behaviour: As your product or service evolves, customers will use it in different ways. A new feature, for example, could be wildly received and establish you as the go-to resource.
• Competition: An emerging or existing player could capture the spotlight with positioning that aligns with a big problem that customers experience. It could force you to quickly reload to stay relevant.
• Innovation: Technology (e.g. artificial intelligence) influences how a product is developed, operated, and delivered. As technology becomes more advanced, your positioning may need to reflect that.
A company should review its positioning every quarter, assuming it invests time, money, and energy in developing it.
It is important for a company to evaluate whether anything has changed either economically, competitively or in terms of its customers.
A company could decide that little has changed, and its positioning needs to, at best, be tweaked.
Conversely, it could discover that key rivals have revamped their positioning and started to stand out from the crowd. A company has to determine what to do and what changes to make.
I would also recommend that companies refresh their positioning annually.
It should involve taking a deep dive into its customers, competitors and the product to understand the different parts of the business.
This, in turn, will strategically and tactically guide marketing, sales, product development, customer success, and HR.
How often is your positioning reviewed, if at all?
More: Looking to drive more leads and sales with better positioning and messaging? My course starts Oct. 24. More information here