We surveyed 375 marketing executives to understand the reasoning behind brand's strategic initiatives this year, revealing how brands can pivot amidst market changes, societal changes and a looming recession. The findings identified two key drivers, to grow market share and increase brand value - with more than half (54%) planning to do so through experiential marketing initiatives.
With three-quarters of businesses focusing on brand this year, marketers must adopt effective strategies and tactics to close the belief gap between their new positioning and their customers’ confidence in their ability to deliver it.
As businesses grapple with the uncertainties and opportunities of new technology, new customer behaviours and dissolving category boundaries, they turn to the power of brand to help capture new market segments, launch new products and services, and reposition for growth.
But many have found their brand is mismatched to their ambitions. For many, a new vision or strategy requires a brand repositioning, to bridge the gap from the past to the future.
Repositioning and building brands takes special measures. To reach the right audiences and bridge the credibility gap, brands need to plan for the short and long term. Experiential approaches will be a crucial part of this, offering deep engagement and broad reach, with experiences and narratives that demonstrate the change, rather than just communicating it.
Finally, businesses need to know that the measures they take are effective and capture the change they need to make.
The Great Repositioning has begun, but who wins and who loses depends on their understanding of the true nature of the challenge.
For a deeper dive into some of our key findings and stats from the full report, click the below related blogs.