The pandemic caused rapid and sudden changes to the way we live, work and shop. As a result, businesses have been forced to adapt to new market trends in GCC countries at lightning speed.
With the heightened demand for e-commerce solutions from consumers across the Gulf, the sudden move to remote working, and a multitude of Government-led economic initiatives – there has never been a better time for businesses to reconsider their brand positioning. Businesses that can enhance their digital presence and meet new consumer expectations will be the ones that thrive in today’s hybrid economic era.
How Business Is Changing In The Gulf
The disruptive nature of the pandemic has changed the way we do business forever. Online shopping became the norm in 2020, but this hasn’t been the only change. In Saudi Arabia in particular, the digital industry is rapidly evolving. As part of Vision 2030, the government announced their new Digital Economy Policy, outlining how the nation would leverage the digital world in its mission to become a more prosperous and diverse economy.
Previously a pain point for many businesses, high-speed Internet access is on a path to becoming the norm in the Kingdom. The government aims to remove the impedance of unreliable connectivity by rapidly developing the country’s telecommunications and broadband infrastructure.
In the UAE, leadership has committed to doubling the size of its digital economy over the next ten years. AI-powered e-commerce has been identified as a key sector of development. This form of tech is being used to enhance the customer experience and create new predictive models that can provide insight into human shopping behaviours.
But as pandemic restrictions are gradually lifted, brick and mortar stores are also likely to experience a resurgence in popularity. In the context of GCC nations, the mall is more than just a place to shop. It exists as a family-oriented hub of activity, that provides entertainment facilities for children and a comfortable environment for families, youth, and women to meet and socialise. The future of shopping in the Gulf region will see brick and mortar commerce working in tandem with digital commerce.
Why is Brand Positioning Important?
Your positioning needs to create a compelling image of your brand in the mind of the consumer. It must communicate what they should expect from your business. When you reposition your brand, you can adjust consumer expectations and breathe new life into your marketing strategy.
Your target market must make the right associations in their mind when they encounter your brand. Brand repositioning can help you reach new markets that may not have considered your brand before, such as a younger generation of consumers. If your sales are trending downwards, repositioning the brand is one way enough to try and revitalise the business.
How To Reposition Your Brand in a Hybrid Economy
If you’re trying to reposition your brand, it can be difficult to know where to begin. Changing your marketing strategy can sometimes be hit and miss, but here are a few tips that can help you get it right.
Diversify your products and services. Find the gaps in the market and fill them. This is a great way to tap into new markets and find customers who haven’t considered your brand before.
Improve your digital presence. A strong online presence will help you seize opportunities as they arise. It will open new channels of communication with both existing as well as potential customers.
Direct more resources towards digital marketing. The future of business in the Gulf is a hybrid of digital commerce and brick and mortar stores. If your business has been neglecting the digital side of things, it’s time to focus some of your marketing budgets on revamping your online presence. Optimise your website for search engines and take advantage of social media advertising.
Invest in tech. In a digital world, you need to invest in new technologies that can help your business grow. Rethink your supply chain management, explore new payment methods, and find innovative ways to improve the customer experience. Brands that invest in new technologies are better equipped to meet evolving consumer expectations.
Brand positioning is more important than ever in the digital era. Repositioning your brand will not only help you appeal to new customers, but it can breathe new life into your business and help you drive sustainable growth sales long into the future.