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Now is an ideal time to consider targeting new markets through which you can grow your business and access new opportunities, but before selling yourself to new types of customers, you need to ensure you’re well positioned to meet the needs and challenges of your identified prospects.The aftermath of the recent COVID-19 crisis is the ideal time to consider a brand repositioning exercise as so many industries remain in limbo and are actively reconsidering their business goals and the means by which they will achieve those goals. Let’s take a closer look at what a brand positioning exercise entails, the benefits it offers your company, and how to get started.
Beyond breaking through to new customers to drive revenue, there’s a host of other benefits and circumstances when a repositioning exercise makes sense, including:
You’ve already built or are building a successful brand. Whether you're a longstanding industry leader, specialize in a vertical, or are a newcomer that’s making inroads, you are good at what you do. Don’t lose sight of that.
Why not utilize all the smart branding and specific value proposition work that established brands have already taken the time to think through and build? Then you can apply or selectively use each of them to speak directly to your new segments. This is the more horizontal view of things. Meaning more broadly, your brand mission statement and overall value proposition clearly communicates a brand’s purpose, objectives and how they serve an audience of customers.
Showing how you can appeal to new types of customers and solve for their pain points will require specificity. You need to clearly present your capabilities, opinion, and proven ability to execute across channels including your website, social media, content, paid advertising, experiential, and more.
We refer to this as taking the more vertical approach to positioning yourself. A great place to start is adjusting your positioning vertically in 3 core areas. Then you can begin infusing this content across your channels.
Once you’ve decided on the areas of repositioning focus, this leads us to what and where you’ll need to start placing content and advertising with new messaging.
In the B2B demand generation and ABM space, it’s no secret that brands need to bring a level of personalization into their marketing efforts. This can range from 1:industry to 1:few, all the way down to the ideal of 1:1 account level. Here’s why personalization is so important:
Note, this all might depend on how ambitious your new business goals are and how fruitful you were in prospecting new industries and accounts. However, if you are in the early stages of going after new clients or testing approaches, you might not be working with a huge prospect list. This affords you the ability to start small with 10, 25, or 50 accounts using a 1:1 personalized approach and then scale up from there.
To launch a highly targeted demand generation or ABM approach, it’s time to begin creating and deploying content, ads, and experiences that are directly relevant for the new client’s needs. Utilize all the information you discovered about them back in the research phase and infuse this into your messaging.
Download our How-To Guide for B2B Brands Aiming to Break Into New Sectors to learn more about the process and to build content-driven campaigns that generate results.