5 Tips for Overcoming Brand Mistakes
Businesses in every industry are experiencing a shift. Large companies that used to dominate their industry are losing ground to younger, market savvy start-ups. While intrusive markets are nothing new to large corporations, something is different about these new companies; they’re simply…cooler.
Today’s start-up has mastered the art of designing a brand. An idea that embodies the companies principles and products that can easily be shared across communication channels. Many companies today are realizing that their brand is outdated, and in some cases, embarrassing.
Overcoming brand mistakes is a difficult process. It is time consuming and costly, but when re-branding means saving your business, you’ll agree that it is worth it.
Revise your position in the marketplace
When facing greater competition, sometimes all a failing business needs is a new angle. Wrigley’s soap is a great example. You’ve never heard of Wrigley’s soap? That’s because their gum sold better than their soap ever did.
To promote their soap, they would give away packs of gum with every purchase. Sales soared, but not because people were after the soap, they really just liked the gum. Wrigley’s discovered their true position in the market place and became the successful chewing gum company we know today.
Rename your company
What’s in a name? Well, Backrub.com may not be the technology giant it is today had they not renamed themselves “Google” back in 1998.
Design a new logo
Reebok is probably not the first brand you think of when it comes to athletic attire, but after redesigning their logo, they were chosen as the first official sponsor of the UFC.
Having a strong online presence is everything in today’s market, and this is the area where younger companies are gaining the greatest advantage over the corporations. Thanks to sites like Instagram, Twitter and Facebook, start-ups can amass a loyal following before they’ve even released a product.
If your company doesn’t have a website, blog or social media channels, then hire an expert to help you catch up.
Improve customer service
Older companies are often perceived as callous, heartless entities that only care about the bottom line; and this perception ultimately reduces profits.
Fresher companies attract new business everyday because their brand is friendly, welcoming and customer oriented.
It’s never to late to start all over again. If you need help overcoming your brand mistakes give us a call at 801-224-8666 or contact us below.