REPOSITIONING YOUR BUSINESS TO GIVE YOU AN EDGE

No business in these times has the luxury of rest. This is because we live in a world where complexity is growing in the face of a depleting economic growth. Any wise business owner is constantly thinking of new ways of repositioning their brand in order to gain more visibility. This is driven by the simple fact that the more people that know about your business services, the more likely they are to contact you when they require such services.

Repositioning your business can be a good thing if done right. This article will provide you with an insight on positively and effectively repositioning your brand.

  1. Rebranding

brand repositioning

Photo credit: graphics-design.com

This is a marketing strategy in which the corporate image i.e.name, term, symbol, design etc. of a company or an organization is changed. It is usually the first thing a lot of business owners think about when trying to reposition their business. However, rebranding is a slippery slope, mainly because most companies end up swapping bad for bad (or worse) in the course of rebranding.

Key things to note when rebranding are:

  • Keep it simple and memorable.
  • Give your brand a story.
  • Don’t compromise your brand equity.
  • If it isn’t broke, don’t fix it.
  • The aim is to make your brand more appealing.
  • Streamline your identity.
  • Don’t be reckless.

Even when done right, all the fun logo in the world makes no difference if other core factors are not put in place.

 

  1. Innovation

branding repositioning

Photo credit: google.com

This mainly involves creative thinking, coming up with new ideas and methods to achieve a set goal(s).  However, this definition does not seem to cut it in recent times. According to the adviser of Fortune 500 companies and lecturer at Northwestern University, Andrew Razeghi “You need to approach it holistically, embed it in the organization and make it someone’s job”.

 

  1. Transparency

Brand repositioning

Photo credit: google.com

Transparency is a huge contributor to the success of any business especially in an era where everyone is equipped with intelligence and access to information has never been easier. Furthermore, transparency is generally appealing due to cultural trends and human behavior. Transparency is not so easy to achieve in the day-to-day grind of business, however, customers often crave deeper information, so they naturally gravitate to businesses with that culture.

 

  1. Invest in talent

talent repositioning

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Talent refers to a special ability that enables a person to do something well.

It is a common practice for business owners to hire semi-skilled persons in a bid to save cost. The effect of this is that your business becomes trial and error for these employees. Unfortunately, customers are not as forgiving with such errors as they expect a high level of expertise and professionalism when they approach your business.

 

  1. Encourage Networking

network repositioning

Brigham Young university

“Change is so quick that exchanging information and knowledge is critical”- Devon Gundry

Updating an organizations’ information database and networking outside of the organization are vital to the growth of any organization.

It is, therefore, important to encourage employees to participate in networking activities and seminars as much as possible.

 

  1. Maintain a learning culture

culture repositioning

Photo credit: weebly.com

A learning culture is a set of organizational values, conventions, processes, and practices.

Every organization on startup creates its vision and mission statements. Question is, how many of them actually live by those principles?

People want to be associated with organizations that resonate with their values, therefore it is imperative that old and new employees learn, understand and practice the organizational culture.

 

3INVEST Real Estate Media Management

Real Estate Media Management (RMM) is a combined service provided by leveraging on 3invest resources for brand optimization, product promotion and digital marketing for brands looking to be active in the real estate space. RMM service is bridging the gap of low transparency and poor perception of established and upcoming real estate brands by advocating for brand development in the built sector.

To know more about RMM contact Tracy Thomas

 

 

 

3 replies
  1. Anslem Ozor
    Anslem Ozor says:

    Often times, start-up’s and co-founders venture into businesses without preparing their minds for unforeseen contingencies.This write up is highly recommended for entrepreneurs and aspiring entrepreneurs getting set to launch into a personal business.
    I think points six and four should be a strong point of reference.

    Reply
  2. Dr. Chukwudumebi Ozor
    Dr. Chukwudumebi Ozor says:

    As an entrepreneur how is it possible to get some deals without cutting corners? I think ethics and transparency go hand in hand. A friend of mine told the truth about her business, she was denied access to funds meant for folks like her. She applied the second time,”tweaked” details about her business plans and voila! got the grant.I think transparency is an issue yet to be taken seriously in this part of the world.

    Reply
  3. Olumuyiwa George
    Olumuyiwa George says:

    I used to listen to your radio program back in the day but discovered your website after reading an article about Co-work on Tech Cabal’s radar. Will drop by soon for possible business collaborations. Great job 3 invest team.

    Reply

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