You have a foothold in the market, but you want the lion’s share. After all, growth is the goal of any entrepreneurial endeavor. So, how do you expand your clientele? How do you capture new audiences? Well, there’s no cut and dry answer to that question. However, with research, trial and error, and analysis, you may be able to forge a relationship with a wider audience, expanding your bottom line.
Here at Leapin’ Lizard Labels, we’re constantly working with business owners, from businesses both large and small. And we’re in the business of growing our business ourselves. We find that successful business owners constantly shift, pivot, and refine their brand to direct themselves at the audience they desire. And the most successful businesses keep a keen eye on the results of these changes. So, if you’re asking yourself, what can I do to grow my business, then we have a few ideas and tactics that you can employ. Now let’s dig in.
Rebranding
Your brand should speak to your audience. If you want to appeal to a younger generation, you need a youthful brand image. If you want to appeal to everyone, strive to build a brand that appeals to everyone. Take a fresh look at your brand, from the product labels you use to the font of your business name, to the name of your business itself. If you’re in a position to rebrand, consider A/B testing the changes you’d like to implement, to see if you’re making progress as you make shifts (you can read more about A/B testing in our recent article, How To A/B Test Your Product Packaging). Not sure where to start? Take a step back from your brand and business as it is, and ask yourself: If I could create a new business to target this new audience, what would be the best way to go about it? While you don’t have to start from scratch (thankfully), going back to the chalkboard can help you to brainstorm ideas, or at least it may unveil the right direction to take your new brand image.
Bear in mind, your long-term gains should outweigh the short-term costs of rebranding. If you suspect that rebranding could have too high of short-term costs, then now may not be the right time (or it may not be a good idea altogether).
Audience-Directed Advertising
Once you’ve rebranded, you should seek audience-directed advertising routes that place your new image in front of the eyes of your new audience. For example, if you’re striving to earn the attention of college students, then you may want to buy an ad slot during a college football game or basketball game. Consider the types of media that your audience “consumes,” whether that’s social media, internet television, radio, or even articles in the newspaper. A new brand won’t have an impact without properly directed advertising, so select the right media channels to make an impact with the audience you seek. Again, A/B testing is a good idea to prove the impact of various media channels, if you’re using more than one.
Analytics
Monitoring your results is wise. Rebranding and advertising will be costly, and it’s essential to analyze the results of your efforts to determine their value. If you’re not reaching your desired audience, then it’s time to backpedal or change directions. If a certain media outlet is working while others are less successful, lean into that type of media, and continually update your advertising. If your brand is working, consider more advertising to concretize your new image.
Get Started With a New Label
Shifting the image of your business can be tricky. But, with Leapin’ Lizard Labels, printing new labels to transform your brand couldn’t be easier. We’re here for you to print off product labels, bar codes, stickers — you name it. We have all of the labels you need to make your brand stick. Getting started is easy, just send us your artwork and we’d be happy to provide you with a free proof. Call today to learn more!
