When sales are down, and business is slow, you might have contemplated the massive step of rebranding your company and changing its colors completely. After several months of tumbling downhill, it can even feel like an inevitable course of action; your brand is your baby, but nobody seems to love it as much as you.
Sometimes, it’s not necessary to tear your company up from the ground and build up a new concept – not just because it involves major changes and the potential loss of your loyal clients, but also because the fault may not be with your brand at all.
Image via: Pexels
If you’re starting to sense a glimmer of hope already, read on, and get to know the most common reasons that your products are not selling – and exactly how you can make business bloom yet again.
Insufficient reasons to rebrand
Any business owner may feel a bit bored from time to time. If you’re disappointed with how your products have performed and expected more out of them than you’ve received so far, you might want to look at your marketing campaign or pre-launch planning before you consider a complete rebrand.
It’s important to remember that changing your image and telling your customers a different story is a long-term commitment; one does not simply rebrand overnight.
When you’re thoroughly bored with the response from your market, the chances are high that you will be just as bored with the tedious process of rebranding your business. Take a long and hard look at your marketing campaign, increase your current brand recognition, and improve your current communication collateral.
It costs a lot less than rebranding, you’ll notice the change within no time, and you don’t have to kill your baby.
Tap into a new market
Marketing is complicated stuff, that’s for sure, and any business owner knows the value of an exceptional marketing campaign as well as data gathering to find the right people to target. When business is slow, it could have more to do with the ones you’ve been targeting rather than the actual campaign – or you could have targeted the right people all along but with the wrong campaign. Again, it’s a complicated job.
Figure out where it all went wrong by investing in a visual visitor system to map out who your current visitors are, what makes them buy, and how you can use this to target more of their kind. Next, hire a professional to launch a new campaign and sweep them off their feet. It’s more cost-effective than rebranding and can seriously boost your business power.
Update your vision instead
A major change can easily be called upon without going through the process of changing your brand. Your vision laid the foundation of your company culture; it contributes to the story you tell your customers and plays, ultimately, one of the biggest roles in shaping your business.
Think about how your vision helps to develop your brand; if you want to change its looks, start by incorporating a different vision and attempt to tap into new markets when you’ve done the dirty work. Make sure you don’t scare away your current fans by changing your vision, though, and if you decide to make any changes to your logo, try to evaluate what makes your loyal customers love your business.
By changing what’s already working, you risk losing the ones who have helped you so far – and by the time you’ve unleashed these massive changes, you’re left with even fewer customers than you had in the first place.
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