Is rebranding a four-letter word at your office? Like many well-established businesses, you are not alone. Rebranding can be a large undertaking but sometimes it’s the only option. Therefore, if your business is no longer generating sales or meeting expectations, it may be time for a change.
Rebranding isn’t just a new logo design or catchy slogan. A successful rebranding campaign can turn a company around and make even the least profitable businesses, successful—but not without a significant investment.
Thus, whether you’re looking for a complete transformation or just a few minor tweaks, here are five tips to successful rebranding:
1. Be open to change. We all feel our past tactics were successful. However, when you’re no longer seeing results, you are stagnant. Life and business are all about evolution.
2. Expand your horizon. Consider targeting people outside of your niche market or try targeting a new audience all together. Your previous audience may have evolved and so should you.
3. Ask for help. Consult your friends and family about your business. What do they think about your current marketing strategy? Don’t be afraid to call in the pros, they know what they’re talking about.
4. Adjust your approach. Try new tactics, like social media, mobile marketing, and Google Adwords. It’s time to join the digital revolution—you’re competitors already have!
5. Rebranding is an investment. Rebranding may include all new corporate messaging, product packaging, website design, and much more. Commit to the financial investment in order to receive the financial gains.
Rebranding your business will take time—but you can do it. The difference between a great business and a mediocre one is the ability to be versatile. Evolve your approaches and don’t be afraid to ask for help. Remember, Rome wasn’t built in a day. Celebrate the small gains and you will rebrand like a champion.