How do you minimize risks when repositioning your product or service?

Setting goals while repositioning your product doesn’t just start and end with sales messaging and your website. You’ll want to make sure you take a holistic snapshot before changing how you position your product. Some question you might want to ask yourself before getting started: - what does the product roadmap look like? - how are most customers using the system today? - how do our customers talk about our product? - what are our competitors saying? - where are most of our target market experiencing pain that we can solve? These questions can help you get aligned with product, keep customers happy, and attract new customers.

Make sure you understand your current positioning first and verify it with your customers/market input. What is the intended new positioning and why would the customers/market see you as the natural fit to fill or be an additional alternative in that place( eg: natural brand extension, full portfolio etc )

When choosing a new position for your product, you possobly need to avoid any risk of confusing or losing your existing cuatomers. The best way to do so is choosing a new positioning that possibly will be perceived as an improvement, an extension or an upgrade of your previous position. That is the new positioning should include the previous one.

Comminicating a new positioning is fundamental to avoid any customer getting confused or the new message is misleading. The message or story must be perceived as a step forward. Therefore, as a positive message to be dinamic, not static, up to date, but always in n the right path (it’s a journey, we know you know, that we know very well what the destination will be)

Start by conducting thorough market research to understand customer needs and preferences. Craft a clear, coherent repositioning message and gradually introduce changes to avoid shocking loyal customers. Monitor feedback and adjust the strategy as needed to ensure a smooth transition while retaining existing customers and attracting new ones.

Research is like your guiding star 🌟 Yet all research isn't created equal. It's not about simply checking a box to say: "We've done our research, lets move on!" It's about driving progress and results for your product and company. Every piece of research you conduct should answer two crystal ball questions: 1. What value will this bring us? 2. How will we translate this Insight into action? If you're wanting to conduct a piece of research but can't answer those two questions, then think twice before spending your $$.

Why do you want to reposition ? This needs to be clear and discussed in the team. It shouldn’t be a knee jerk reaction of success of a competitor or a new fad or similar. Is the current positioning becoming obsolete, or the market growth prospects are diminishing or is it a new market / blue ocean space opening up ? What would it take to gain this new positioning and ability to win. Would it be better to start another brand and let that brand take that new space ala Lexus and Toyota?