Drive sales and maintain market share in an evolving market by updating your brand.
Business leaders must recognize the importance of tending to their brand in an ever-evolving marketplace. It is all too easy to lose track of how we are perceived by our customers and industry peers.
As time goes on, any brand can become tired or irrelevant to its target audience. As demographics, technology, and consumer behaviors change, we are presented with new opportunities in the market. With these changes comes a demand that brands must take advantage of to achieve or maintain a solid position in their market. If you haven’t evolved your brand with these market changes, revitalization becomes a necessity.
This is where Cazarin Interactive has found itself today. As we have worked hard to keep our clients at the forefront of their opportunities, we have neglected our own brand’s digital footprint. It’s a common story and, in the end, it can hurt our business. Luckily, our clients have seen the outcomes of where we’ve set our sights when we haven’t watched how our own brand and our position in our industry has persisted. But it is time to look inward and evolve.
As we have evaluated our own brand, we’ve learned some lessons we’d like to share with you. They were—and still are—hard lessons to take in. Maybe it will help to know you are not alone as you embark on your reflection of your own brand.
- Be open, and grateful
It’s easy to be defensive. Feel that defensiveness inside. But then listen. You have invested so much in your company. The identity you have strived for and developed during that time may not even reflect itself in your brand assets anymore. If you receive negative feedback about your brand, it’s likely that your brand assets don’t even represent who you as a company have become. Take the opportunity to ask questions and listen to a different perspective. You may learn some valuable information about your brand perception, which will help you update your brand assets to who you really are today (and it’s likely stronger than you were when you first branded your company).
- Re-acquaint yourself with your market
Once you have dealt with your own ego, turn your gaze to the most important person in the room—your customer. Your market is always changing. Continually strive to understand your market as demographics, technology, and consumer behaviors change. This is not only your responsibility as a business, but it’s your obligation to your customers. But don’t just meet that obligation—surpass it! This is how your audience stays loyal. They will see the lengths to which you are loyal to them.
- It is up to you to ensure your brand accurately reflects who you are as a company, and stays relevant to your target market.