The marketing landscape is forever changing. One day a topic could be trending, and by the next day, society is interested in something new. Learning to survive the changing environment comes from mimicking your target audience. We’ve all heard the new words and catchphrases younger generations always seem to invent, iterations of older definitions to make them more appealing or more applicable to the world today. Inherently, this modification of something old and turning it into something new is what your company needs to maintain a strong position among an adaptive audience.
Low Brand Awareness
If you aren’t where new customers can find you, your audience won’t grow to its full potential. Various things like placement, appeal, and language can attract or detract from your overall brand presence. When you don’t see the results you want, and you’re already in places where people can find you, like social media, various websites, and blogs, it’s time to reassess your overall brand. Maybe your company would fit better in another area, or it needs to adapt to stay in its current community. You’ll be able to restructure your look, name, and voice to connect better with your audience with a brand refresh.
Ageing Demographics
Often, as the customer base grows and ages, businesses struggle to evolve alongside them. Their customers develop different needs or outgrow the company’s style if they feel it’s no longer helpful. Sometimes this is unavoidable, but for the entire customer base, you can learn to fulfill what they are looking for in a company and hold the attention of your current audience. If your customer size is diminishing, it’s time to think about a rebrand. Your business needs to uncover the reasons for a customer’s departure and fix the leak!
KPIs
KPIs or Key Performance Indicators are a great way to focus on your company’s growth. If they’re constantly underperforming, it’s an easy sign that something could be wrong with your branding. In sales, some standard KPIs can include customer satisfaction, growth in revenue, and loyal customer retention. All you need to develop effective brand representation is a strategic plan for refreshing your brand, like the MC Greenprint.
There are many reasons your brand could be suffering. A rebrand can maintain and gain a sturdier audience if you discover that parts of your brand are not retaining customers or hurting your KPIs after careful analysis. Without a new representation, your audience may continue to diminish, and your return on investment will suffer as well. Michigan Creative is more than happy to help give your brand the transformation it needs. Contact us today or subscribe to our monthly newsletter, The Creative, for more information.