Rebranding may seem a daunting task in the beginning, but in reality is one challenge that comes with many benefits. While it may require many plans and efforts, a business refresh will make it relevant again for a large target audience. So, here are the five signs that will signal you to make a bold and successful move.
1. Your Business is Inconsistent
In life, nothing is certain except three things: taxes, death, and change. Nothing is built to last forever, especially a business. Since day one of your entrepreneurial adventure, you and your teams have learned a lot about your field and your customers. This is why it is normal to not have the same vision today as you did when you first started.
So, when it becomes obvious that your marketing campaigns are trying to meet both the old and the modern trends, it is definitely time for a refresh. While loyalty to an idea is admirable, your business needs to grow together with its target audience. Try to find the right approach for your business audience and you will soon be presented with incredible results.
2. Your Business is Indistinguishable
Either you started your business from an already existing idea or your competitors have caught up with your originality, your brand seems common on the market. There is nothing left for it to sparkle in the heavily competitive world of the market.
While old customers have remained loyal to your brand, you might lose new leads on grounds of an average performance and looks. This is certainly a sign that you should pursue a rebrand to make your business stand out from the crowd. Take into account the features of every target audience and try to create a strategy that incorporates all kinds of possible requests and reactions.
A wonderful way of differentiating your product image from that of others is by engaging in outreach marketing, which focuses more on connecting with customers as people. Instead of simplistic product placement or promotional ads, outreach marketing incorporates SEO, rank, social presence and a community of customers into a system of relevance and efficiency.
3. The Market Changes
While it is not good for your business to become a copycat, you should nonetheless stay updated with the latest trends in your field. It is immeasurably effective to have your own distinct voice and personality, but you should also listen to your audience and answer their latest interests. In the free market, demand leads and supply must follow. As such, it is natural for your company to mold its activity onto the wants of its customers.
Keeping up with the latest trends is one of the best pieces of advice when it comes to refreshing your own business so try to always create the improved version of your business. Old clients will naturally be curious about novelty, be it in product, service or presentation, and will respond appropriately. If your customers want to know how to get a PayPal prepaid card, you should present that to them. Change and modernization are a sign of conscious efforts toward progress and even your faithful clients will appreciate it.
At the same time, changing your style and following the market trends will also widen the pool of potential customers for your business. Instead of remaining bogged down in the past, you will be showing variation and adaptability, perhaps even attracting potential investors.
4. Your Website is not as Performant as it Could Be
The official website can be seen as a digital representative for your business. It usually supports the latest updates, the story behind your brand, products, services, and everything that is meaningful for your company. However, if the bounce rate (the percentage of people who leave your website after viewing just one page) has recently reached higher points than usual, it is time for a refresh.
Analyze all the aspects of your website and try to figure out what would make the customers stay longer on one page. Is it the website template, or maybe the content? You can even ask your customers to answer a survey related to this matter. Then you will certainly know what aspects need a refresh and what needs to be kept.
One of the prime strategies of keeping website customers and converting them into customers is to establish a relationship. Like any such venture, building a relationship with your clients takes a lot of time and for you to follow a few steps.
Step 1 – Be Honest
A few tips and tricks at the early stage is to be honest. Nowadays, people are used to being promised the moon and the starts by various promotional campaigns. A company that is aware of its image and of the image of its product can go a long way with a few simple ads by just being honest.
Step 2 – Promote Your Image with Efficiency
A second stage in establishing a relationship with clients pertains to staff conduct. A rude clerk can make you lose clients forever. The same goes for your online storefront, except the clerk is replaced by loading speed and the degree of responsiveness and interactivity that your site has.
A slow, poorly made website will distance visitors, not to mention clients, from your business. Conversely, an efficient website creates the impression of an efficient company, prompting others to hold your company in high regard.
Step 3 – Engage in B2B
Many companies do the mistake of addressing solely individual visitors and potential customers, viewing other companies as either irrelevant or as merciless competition. Conversely, numerus businesses exist only to cater exclusively to other companies, working as subcontractors or suppliers.
In both situations, a large part of the market is eliminated from the start. If your business is already oriented toward customers, a business-to-business (B2B) in the approach can reveal several possibilities that were not taken into account before. Like any client, other businesses consider your company’s image and efficiency, starting with the quality of the online and marketing presence to that of the product.
Step 4 – Relationships
Moreover, as people are more likely to trust third parties rather than the one who is selling the product, a partnership with another company can be mutually beneficial. “Recommending” another company’s product as integrating well with yours – while they do the same – can greatly expand your general customer base. Social media can be a great platform for doing this sort of exchange.
As people tend to anthropomorphize brands, attributing them stances, values and opinions, even the ability to hold a grudge against another competitor, establishing such a “B2B friendship” can help improve your company’s image.
Step 5 – Actively ask for Feedback
Building a long-lasting relationship with either other companies or individual clients can prove almost impossible if you do not have data to work with. As such, your website desperately needs a feedback form through which your services and products can be rated and commented.
This can provide invaluable data regarding what to change and what to keep when making the transition to a new image for your business. The only thing worse than remaining stuck in the old ways of operating is to change chaotically and without a clear direction. This only works to confuse commercial partners, not to mention the customers, and can prove to be a quick path toward bankruptcy.
5. Lack of Initial Investment
When you started your business, chances are that there were many projects that couldn’t be completed because of lack of a generous initial investment. This means that your business today is far from your ambitious vision. If you have a large budget today thanks to lots of efforts and sales, you should resume your mission.
In the beginning, many entrepreneurs are compromising on quality and don’t afford professional help. Now that your business is mature and scores a handsome ROI, you should spare no expenses to finish what you started. Hire the best professionals who know what is best for your business and who will advise you what to do next. Invest in those changes and the results will not cease to appear.
Marketing a new image of your company is perhaps the best direction of investment as it can lead to a direct increase in income and the overall growth of the company. Focused on individuals and establishing relationships rather than promoting a product, outreach marketing can also prove more expensive. However, the long-term effects of such a campaign cannot be denied.
Not unlike a living organism, a business never stays the same. Even without you noticing directly, the perception of its products changes perpetually, together with the market and the customers themselves. While a preference toward stability and proven methods is not always bad, the refusal to evolve is a sure path toward demise.
To survive and even thrive, a company must adapt to the new conditions of its environment – the market and the demand. If it does so, it will attain a resilience in image and reputation that is sure to remain even as time passes.