Written by: Adam G. Horlock, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Entrepreneurs' ability to create and implement innovative strategies has never been more critical. To stay competitive, businesses must continue to solve problems in unconventional ways and adopt new methods of managing their operations. Agile companies will be rewarded with increasingly diversified revenue streams, greater customer loyalty, and new growth opportunities. In short, innovative strategy is vital to unlocking opportunities for long-term success in this ever-evolving economy.
Brandscape strategy is an analysis tool used by businesses to identify growth opportunities. It leverages a team's industry experience and market knowledge to plot the current positions of significant competitors and anticipate their next moves. When mapped correctly, brandscape strategy uses industry experience and market knowledge to define the "scales" that drive customer decisions, explore and choose the most desirable position for brands, and identify strategies to seize desired positions.
Use Brandscape Strategy
The primary purpose of a brandscape is to evaluate the competitive landscape to identify growth opportunities. The goal is to determine which areas are least ownable by competitors and where there are potential openings for businesses to occupy. It also helps brands ascertain whether or not it is worth competing in specific markets. Utilizing a brandscape strategy can provide a tangible advantage in the marketplace. This approach enables teams to analyze competitor positioning, predict market moves,
and position their brand perfectly to gain maximum impact. The strategy focuses on discovering which parts of the brandscape are least owned to craft an offer that accurately stands out. By leveraging industry knowledge and utilizing this strategy, businesses will have a clear perspective of the key players in their sector, allowing them to take more calculated risks and develop successful strategies for gaining an edge over competitors.
How Brandscape Can Help Your Business
Brandscape can help businesses by providing insights on how to stand out from competitors in terms of positioning—something that can be hard to do when so many other brands are vying for attention in the same space. By leveraging data-driven insights and understanding customer preferences through real-time feedback surveys or customer interviews, brands can design marketing campaigns and product offerings explicitly tailored to customer needs—which can provide a significant advantage and disruptor when competing against larger entities with deep pockets. It also helps gain insights into how customers perceive products or services compared to competitors. This allows adjustments in pricing models or introduces new features or services based on customer feedback which can ultimately increase sales revenue or improve customer satisfaction with existing products or services. Additionally, it helps inform strategic decisions about product development, marketing activities, corporate partnerships, and other initiatives which can impact overall business performance over time. Brandscape strategy gives access to valuable data about competitor movements, which brands can use for defensive and offensive purposes, such as launching product innovations or campaigns targeting specific audiences without wasting resources on initiatives that may yield no results. Additionally, a brandscape can provide valuable data on customer preferences to understand their needs better and provide them with tailored solutions that could increase customer loyalty over time. Brands can use this information to inform future marketing campaigns or product design decisions to better meet customer demands in short-term and long-term strategies.
How to Start Brandscape Strategy
A successful brandscape strategy requires careful planning and expertise to identify the best paths for positioning and market mapping. The importance of having a professional brand strategist with experience leading C-suites through this intricate process cannot be overstated. Having an objective third party in the room is essential, guiding decisions and offering insight in a way only such an experienced expert can. It is advantageous, however, to prepare beforehand – knowing where the business currently stands, what research has been done regarding target markets and current trends, and being willing to ask questions while engaging with the facilitator are all key elements ensuring success during the workshop. With this information, a brandscape workshop can produce a robust plan to set businesses up for success. Before beginning a brandscape workshop with a professional strategist, it is essential to search for specific objectives and ideas on how the organization may wish to position itself within its market. Reviewing what competitors are doing and noting how the organization can stand out in differentiation is constructive. It is also essential to correctly identify target customers and understand how they view the market. Of course, this homework takes time and resources, but it is worth it; preparing information can go a long way in ensuring C-suite executives get the most beneficial guidance from an objective third-party brand strategist during the workshop. When done right, listening carefully, and making thoughtful observations, a well-rounded brandscape strategy will be ready for execution.
Use Brandscape While Others Fall Behind
By utilizing brandscape, businesses can identify growth opportunities while providing valuable insights into customer preferences, leading to improved sales revenue, higher customer satisfaction levels, and increased loyalty over time. Brandscape strategy is an effective way for companies to plan for the future, but surprisingly many brands are not utilizing this tool. What are the best uses of brandscape strategy? Most commonly, it is to map out business expansion, such as new physical locations. A great example of this is in healthcare – what areas are owned by competitors, and what services do they hold at this location? Leveraging brandscape, a healthcare brand can determine the differentiator brought to a specific area that other competitors do not present to the market. Aside from new locations, brandscape is valuable for new service offerings, product launches (especially on a widely available product), and decisions on acquisitions and mergers, among other examples. Knowledge of the competition and how they are positioning themselves in the marketplace is critical: it's invaluable information that lets your business plan ahead and makes strategic decisions. Utilizing this strategy can highlight areas of potential success or weakness, giving you a significant edge in staying ahead of other companies in your field.
If your brand or business is looking for options to incorporate public relations into a marketing strategy, please follow Adam on Twitter, LinkedIn, Instagram, Facebook, and visit his agency’s website: Pinnacle Public Relations Agency
Adam G. Horlock, Executive Contributor Brainz Magazine
Adam Horlock is the Founder and Principal Strategist of Pinnacle Public Relations Agency, helping brands find and amplify their voice through public relations campaigns, helping develop a public message and find winning strategies to get that message heard. In these efforts, he has made multiple national television appearances, published articles and content on some of the world’s leading business and news platforms, and helped smart brands grow through effective messaging and strategy.
