All businesses change over time, but this year Covid has meant businesses have been changing more rapidly than ever before.
Many businesses have had to pivot what they offer, how they provide their products and services and even who they provide them to. Change like this is essential in business, but in order for that change to be successful the business will also need to change how it markets itself. With money tight and times difficult for everyone how do you know where to spend your valuable marketing budget?
Your logo is your first communication tool and therefore needs to clearly communicate what you do and connect with your target audience. Don’t assume that a re-brand is required just because you are doing something slightly different. If you are delivering the same services, but now online instead of in person then your existing logo might be absolutely fine. However, if you have materially altered what you sell or who you sell it to then a rebrand could very well be an essential investment.
Whatever change you have made your website is definitely going to need some work. If you have just added new products or services then this could be quite a simple and low cost change (especially if you have a content management system and know how to use it). However, if your business change is significant or your target audience has changed then ‘bodging it’ into your existing website could be a real risk. Your website is a major marketing tool and if it doesn’t communicate effectively you could lose prospective customers.
If your business name has changed then you will have to change your social media profile names and graphics. Your new products or services may require a new social media strategy. The main problem with social media comes if your audience changes. The success of your social media content is determined by an algorithm. The social media channel wants to see people engaging with your content, so if you were selling roller skates to teenagers and you switch to selling ice skates to adults then you will need to create new social profiles and start building a new audience. It may feel like you are abandoning all your hard work in building your original audience, but if you just change your profile name and start trying to sell your product to the wrong audience then your engagement will drop and the social media platform will stop showing your content to your followers.
Some businesses create a lot of print marketing materials and others hardly any. If your product, service or target audience has changed this may change whether you use print marketing in your business. Don’t automatically assume that you’ll need the same things as before as you could be wasting your money. Obviously any print items you do need will need redesigning and reprinting if you are changing your logo or business name.
The most important thing in any change of direction in your business is to really look at your strategy before you start. Check out the opportunity and the competition. Really plan what needs to change and what can stay the same. Price everything up so you are clear on what your change will cost and when you can expect to see a return on your investment.
If your business is changing and you need help knowing what to change and what to keep get in touch for a chat.