Is It Time To Re-brand or Re-market?
Every business owner faces this question at one point or another. Should I re-brand myself or invest more into marketing? Usually this dilemma surfaces when there is a sudden drop in leads or sales for an unexplained reason or you can’t seem to get your feet of the ground. The tendency is to think that you need to create a new product or company image to save face. However, that can be very detrimental to your brand and very time consuming especially if your trying to get your feet off the ground in the first place. The answer is in asking the right questions. These questions should help you determine if you need to re brand or simply invest more in online marketing.
Q: Are my services or products in demand?
This should be an obvious question but it often gets overlooked by overambitious folks trying to start a business. Sit back for a moment and think about what your trying to sell. Is this something that people need? Does it help them solve a problem or move forward in life? Do they see it that way? If you answered no to those questions then you should probably rethink your business model and re-brand completely. Harsh but true. I’ve gone through several re-brands as many entrepreneurs do in order to find a niche product that is in demand.
Q: Is my website effective at generating leads?
Many start-ups have a website but have no idea how or why it is supposed to work for them. A good web design will be a place of education and guidance that helps solve your clients problems. In return it will help bring you qualified leads by the followers who find value on your page. If your not getting leads through your website but you can still make sales through word of mouth then its probably not a case of re-branding but re-marketing. The solution is then reorganizing the website to appeal to your target audience. If your website is turning over a few leads that your making sales off of but not really worth your time in an annual perspective then it may be set up well but needs something more to help drive more cold traffic to convert. The solution in this case is re-marketing.
Q: Is my social media presence well branded and organized?
If your not on social media, that’s the problem. If you are, then check out how your pages are branded. Does it match your website? Does it match your marketing message? If it doesn’t then some minor re-branding needs to occur. Yet, the greatest issue here is really in the usage of the social platform. Many businesses post often and may throw a few dollars at ads but aren’t getting the return they desire. The reason for this is that they don’t have a written effective strategy for engaging followers, targeting new prospects, and nurturing leads. Social media has the power to do all three if you organize it right. If your social platform is not performing well, come up with a strategy for posting engaging content on a consistent basis, writing up targeted ads and allocating the proper funds, and tracking visitors and conversions from your website for followups and re-marketing campaigns.
Q: Are my leads converting?
I am blown away by the amount of business owners who are still buying leads and email lists only to be frustrated by low quality, poor converting leads. Cold calling software and mass list buying are outdated. The public is self aware and through the power of the internet they are educated enough to stay away from those types of outlets. We call it interruption marketing. We use a list and interrupt them in their daily routine to present to them an offer. It doesn’t work and people usually leave with a bad experience even if it was something they were interested in. With online marketing you need to take a much softer approach and meet people alongside their everyday struggles. This means telling a story and providing information to answer their questions. Nobody is looking for a hero to save them from their problems. They are looking for a guide to help them solve their problems and they begin their buying journey way before they arrive at your website or phone number for answers. To fix the problem of low quality leads implement an email marketing strategy to offer valuable content and to build a relationship before they even reach out to contact you. You’ll find a little more time invested up front will result in more conversions down the road by happy customers.
In most cases you need not consider re-branding. unless you had a major flop and need to dissolve an entity to fix public relations or a bad product, there is no need to re-brand completely. a light design refresher and a better marketing strategy should be all that is necessary to get your sales out of the gutter an on to the road to success. Everyone is looking for answers. will you have them? and will you build the relationships necessary to win their hearts and the sale?