There are a host of different reasons why you may have decided that it is time to revamp your business. Some may feel that their brand message is outdated, while others may feel their current direction is not cut out to carry them towards their potential. Many are undertaking this process today in response to the challenges brought by Covid-19. Whatever the motive, brand reinvention requires a well-considered and tactical approach. Here, we will explore what to take into account as you move towards a refreshed and renewed business model – loaded with potential!
1. Identify Your ‘Why?’ & Your Goals
The better you understand your motives in repositioning your brand, the better able you will be to cut a clear path forward. Begin by identifying the whys: Have your sales taken a huge hit thanks to the pandemic? Do you want to align yourself with a more modern market? Are you driven to take your career off on a new tangent? With the whys in clear focus, you can lay out your goals: Perhaps you want to take your business online, having been a brick and mortar brand in the past. Maybe you wish to target a new audience because the market opportunities have shifted. Figure out the details and get them down – go and find a pen and paper!
2. Research, Research, Research
Whether reinventing through ambition or necessity, many businesses make the mistake of running with what seems like a great idea, without putting in the groundwork. Even if it seems like you have hit on the perfect innovation, don’t be tempted to dally on market research. Identify your potential audience, your would-be competition, market trends, and so on – to ensure that your efforts do not fall short.
3. Leverage Your Background
Your change of course can be a burden to carry, or a spring-board advantage – you simply need to identify how to use it. Consider how your background might contribute to a unique market proposition for your fresh direction. Does it provide you with unusual insight? Are there skills that can be leveraged in creative ways?
4. Create A Cross-Over Narrative
Your existing audience – especially if your brand was fairly well established – are going to experience confusion without a narrative to guide them through the change. This might come in the form of your own personal growth, a chance to connect with more people, or an untapped passion. By creating a narrative, you can steer how people interpret your reinvention.
5. Reintroduce Yourself
After a brand revamp, new customers will take your offering at face value. Those who knew your brand as it was before, however, will benefit from personal connection. Be sure to reach out to your original customer base over the transition and bring them into the fold of your relaunched initiative.
6. Show Your Capability
If dipping your toe into un-swum waters, you need to demonstrate that you are bringing something of value to the pool. Hit the water in style by building a nice cache of relevant content on your website and social media pages. Demonstrate that you understand your product and are going to play a meaningful role to your audience.
7. Re-Evaluate Your Processes
Many businesses are running on a tighter budget than usual these days, which can make reinvention an extra challenge. Use this pivotal moment in your offering and exterior presentation to reassess the inner workings of your business. Streamline processes and roles and maximise efficiency in readiness of your fresh start.
8. Utilise Automation
If you have not been aboard the tech-bandwagon in the past, now is the time to jump right on! You are going to be communicating a lot as you relaunch your brand, and using automation tools for social media and email marketing can be an extremely cost effective and efficient way to connect with your audience, while minimising your workload.
9. Get Aesthetic
Your brand reinvention needs to be visual as well as practical. If visitors find that your branding looks exactly as it always did, but your offering has totally changed, they are going to be confused at best, and frustrated at worst. A strong new colour scheme, a website overhaul, or even a new logo can really add some force to your revamp. Your choices should depend on your budget, and the extent of your change in direction.
10. Testing The Waters
Just as launching into a new idea without research is a fool’s game, a little care in how you go about raising anchor on your new idea is wise. Making sure that you’re on the right track is best achieved by bringing your audience along for the ride and seeing what they think.
Split testing with landing pages and email marketing can allow you to assess your reinvention message. As you wind up the momentum, pay close attention to the feedback available – both in person, and through online analytics. Once you can see that you have hit the right note, you will know that it is time to rev the engines!