Business Brand Checkup
Due to the changing economic climate, many companies have experienced either no growth, or worse, a decline in revenues from previous years. There is nothing quite like a loss in revenues to prompt a company to take a hard look at their branding. Branding is the process of creating an identity in the marketplace, one that is a reflection of your company, not just what you want your company to be. Once your brand is identified and you build the marketing messages and sensory package that supports your brand - you need to ensure your company can live up to it. The experience you provide your customers must equal or surpass the expectations your brand creates.
Rebranding to position your business to new markets or to reposition your business in the same market can be a risky strategy. A dramatic rebranding may result in some loss of current customers. For example, if you currently attract upscale professionals approaching retirement and you change your brand to appeal to young value minded families, you may lose the appeal you have to your current customers.
