Every brand needs revitalization from time to time, even if it’s doing well. Brand revitalization is a strategic process to improve existing products, processes, or brands, to meet the ever-growing demands of consumers in a fast-paced market.
Brand revitalization is also crucial during the decline phase when a company experiences a downfall in customer turnover, sales, profitability, or any symptoms that point towards adopting a new brand revival strategy.
Companies conduct revitalization strategies to attain overall business growth. You can also revitalize your brand before introducing your products or services to the international market, upgrade with the evolving technology, attract a new audience, or help you handle situations such as cost inefficiency and product complexity. But how can you achieve all these benefits of revitalization? Here are strategies to help you.
1. Acknowledge it
The first step towards brand revitalization is acknowledging the areas that need change. Find out if there are problems with the processes that would have led to customers complaining about poor product quality or lousy customer service. Has increased costs, cost, and resource wastage led to low profitability? Or has the loss of employee morale led to missed deadlines and frustrations?
As your brand grows, there will be instances where you’ll experience lagging sales or slowdowns due to the expansion itself. Therefore, if your brand is becoming obscure due to development and growth, a revitalization strategy can get you back on track and save you from diminishing brand recognition and falling sales.
2. Engage with the Community
Reaching out to the community is similar to appealing to your customers to become a community. Becoming a community-based brand can revitalize your image and foster word-of-mouth marketing, which is any brand’s most powerful marketing strategy. Engage with the community to also learn about their experiences with the brand and accept suggestions they may give you.
Engaging the community can leave your brand open for more significant potential and is one of the ways to build your business. It also ensures that you keep their attention and increase engagement and loyalty to the products and services. Community engagement strengthens the relationships and encourages more advocates to share their love for the brand and entice others to join.
3. Redesign
Regardless of how successful your brand is, there comes a time when you need to re-evaluate it to remain relevant and keep up with the market demands and changing trends.
Your website is a crucial aspect of the revitalization process. A poorly designed website can damage your credibility and make it difficult to measure the amount of money you could lose through disgruntled website visitors. Talk to a creative design agency in NYC to give your website a better design and optimize it for greater search engine ranks.
Another strategy to consider when conducting brand revitalization is redesigning your logo. A logo helps you make a great first impression on your audience, and since it’s the foundation of your brand identity, you would want it to match your new revitalization energy.
Redesigning your logo will show that you are evolving and keeping up with the contemporary business world, as consumers want to be associated with a brand that is up to date.
4. Try New Things
Brand revitalization is an excellent chance to take risks and try new things. Don’t be afraid to expand your brand by coming up with new stuff. New product development and innovation can increase your customer base and place you ahead of the competition.
New product development might involve creating a new product, upgrading an existing product, or enhancing the production process. A new product development strategy is ideal in cases where you would have experienced slow growth, competition, change in customer demand, and pressure to lower prices or competitors’ exit from the market.
5. Promote
Promoting your brand educates your audience about your products and services. It can save you time and effort to convince customers to make purchasing decisions and can create customer loyalty.
You can conduct brand promotion through social media or influencer marketing. Influencer marketing is slightly different from traditional marketing as it focuses on a highly relevant audience. Influencer marketing increases brand awareness, hence driving traffic to your website.
Why Brand Revitalization is Important
A brand is how a company, product, or business is perceived by those who experience it. It is more than a name as it represents the whole company’s identity. Brand revitalization can cause transformation in the way people perceive your company and its products. Therefore, you need to plan it carefully to retain the essence of your company even if the products are modernized.
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