Looking for brand reinvention tips for your business? This process is so involved that it can sometimes be overwhelming. You can look to your competition to ease some of this stress, though. Exploring how your competition promotes their brand effectively can help to steer you in the right direction.
Brand Reinvention Tips to Consider
Here are some tips to ensure that you get the most out of this experience:
Look at Everything They Do
It’s easy to shortcut the process of examining how your competition handles their brand. After all, there’s no way to perfectly measure how much this process will benefit you monetarily. It will greatly benefit your business but you’ll need to take a thorough look at your competition for it to work.
If you only see a third or half of their brand collateral, that will limit your success. You won’t be able to see the full picture.
Leave no stone unturned while gathering info. Look at:
- Twitter, Facebook, Pinterest, Instagram, etc.
- Web videos
- Magazine and newspaper ads
- Online ads
- Promotional offers
- Anything else that you can find
Decades ago, companies could get away with one-dimensional brand development. Nowadays, businesses need something three dimensional. Social media platforms are becoming increasingly vital to grow your audience.
Without careful attention to them, your business could very well dry up.
It’s all about relationship building.
Dig Deeper than Just Appearances
Just glancing at your competition’s brand in all the categories isn’t enough either. It’s wise to come up with a detailed report that shares about your findings.
Take note of what social media outlets your competition uses.
Another interest point is frequency of interaction on these platforms such as:
- How often they post
- What they talk about
- How they interact with their customers
Take great care to gauge the quality of their branding by asking yourself:
- How well is their content written?
- Are their colors effective?
- Is the way they interact with their customers relevant?
You can use a spreadsheet report to rate overall effectiveness on a scale of 1 to 10 as well as track posting frequency this way. Also, observe how different forms of brand collateral work together to promote the company.
You may find that your competition gets more mileage out of one form of brand collateral. For instance, they may promote a blog article on Facebook or use part of that article in an online press release.
The “repurposing” of content can save time and money... if it’s done carefully.
Ideally, you’ll benefit from examining at least three businesses that are on the cutting edge of branding in your field. Once you’ve studied your competition, use your report to help springboard your business and brand to where you want to go.
Don’t be a CopyCat
Although it is extremely helpful to investigate how your competition handles branding, you don’t want to create something that looks like your competition.
Reinvent something truly unique.
It may take time to build up to the level of brand effectiveness that other companies enjoy but don’t let that stop you. Every business goes through growing pains on their way to the top.
It’s ok to run next to your competition for a little while but find a way to pass them. If you’ve thoroughly done your research, you’ll be able to identify weak spots in the brands of your competition.
Figure out ways to make your branding even better.
After all, your customers aren’t looking for a copy-cat business. They want to go to you because you’re the best.