Reviving your brand to save your business

A brand is a company message: it conveys to customers what a company stands for. It needs to be inspiring, recognizable and reassuring so that new customers are drawn to it, so that it stands out from the rest, and so that existing customers feel confident about you. Although your brand may have worked in the past, it may be time to make the decision to give it a complete overhaul. It could be exactly what is needed to give your company a new lease of life and bring in new business.

How do you know the time has come to revive your brand?

  • Your marketing tactics are failing to bring in new sales and it’s time to try something new
  • You have merged with another business and need a new brand.
  • Your existing motif or logo doesn’t seem as effective as it once was; it is pointless or meaningless, or it just gives out the wrong message.
  • You are not attracting the right target customer group, and time and resources are being wasted.
  • You need to change in-line with your competitors – and to stand out from them.
  • You want a uniform match between all your marketing tools.
  • Your product has changed, developed or expanded, and your brand is no longer relevant.
  • You have decided to target a new demographic with your product or services.
Do not be afraid of making radical changes – it will bring in new customers. A strong brand is essential if your business is to stand out from the rest. Stephen A Wynn made his initial mark on the business world by buying the Golden Nugget in Las Vegas and totally transforming it from a tired and shabby gaming hall into a multi-million dollar hotel and entertainment complex. This was hugely successful, attracting new, upscale clientele, and shows how the right rebranding can attract a whole new demographic to an existing concern. You can follow Stephen Wynn news online for more tips from a luxury marketing expert.

How to revive your brand

Once you have made the decision to revive your brand for the good of your business, you should start by assessing your strengths and weaknesses – focus on what makes you better than your competitors. Reevaluate your target market and look at how you can better reach them; find out more about them, and look at different ways of communicating with them; get your employees involved. If your business is stagnating, getting advice on reviving your brand could be the best decision you make.