Should Tech Firms Consider Re-Branding to Drive New Demand?
When we work with TechCEO of established mid-sized businesses on demand generation issues, we have come across another key area that has often been neglected – rebranding your business to sound relevant to your customers.
For example, we are working with a large payroll outsourcing company that has been stuck in a transactional position far too long. In a crowded and competitive payroll outsourcing space, which is a tired category, clarifying your message and value proposition to customers become stale.
The HCM category itself is morphing itself to other areas such as smart automation, payroll intelligence, workplace culture, integration and collaboration and the rise of AI and data oriented decision making.
Now how can a TechCEO reposition his business in fast changing tech business, shift narrative, sound relevant, focus your message and drive new demand?
These days we are working a bunch of TechCEOs who have built stable businesses in a particular category, say payroll outsourcing, industrial automation or application development.
Most of these firms were founded by practitioners, so they usually follow a familiar formula of offering similar services to similar audiences. Buyers have a hard time telling them apart. Meanwhile, conventional demand drive initiatives don’t yield much result.
Do you know why? Let’s dig a little deep.
When the company is preparing for expanded growth, particularly international markets, it might struggle to position itself against competition and sound impactful to new audiences. Same old messaging that worked in home turf won’t work.
Second, TechCEOs soon realize that competitors are looking and sounding just like them. In such cases, it is possible that the company is losing relevance in consumer’s minds. TechCEOs can feel this trend. Your brand no longer reflects who you are. It’s time to re-position your firm (against competition) to grab mindshare from your customer.
If implemented properly, a change to the position and brand of a company has major consequences for the organization. Everything is adapted in line with the organization’s new strategy and promise, its products or services, HR policy, customer contact, corporate identity, and so on. Rebranding makes this change visible for all stakeholders.
Third, when a company enters into a new line of business, want to compete at a higher level or enter a new market – existing brand identity might not resonate with new buyers. A rebranding might be in order.
Finally, when a company wants to appeal to a new audience representing new category of solutions, say ML/AI led problem solving to a particular market segment, a rebranding might be necessary.
Now, all of these weaknesses can be turned into strength when you launch a re-branding activity to position your business for new wave of demand. It’s time to organise your thoughts, establish clarity, focus and engage the right people who know how to do it.
That’s exactly what we have done in putting together TechCelerate, Revenue Acceleration program for TechCEOs to re-position, re-brand and drive demand generation for your business.
You see, the only way to grow your tech business in fast changing technology market, be it product oriented, an IT services business, is by following proven revenue growth frameworks. Without a proven framework, you are operating from guess work and guesslogy. You will be transactional and engage clients as if you are still in 2010.
Being clear about your strategy, key goals, getting your messaging right, aligning go to market and deploying sales and marketing framework are very critical to achieve results. That’s the only way to expand your tech business 5X in the next 12-24 months.
So here is a crucial question for you?
In 2019, does your brand identity clearly:
- Clarify your brand’s message and ethos?
- Identify your audience and clientele?
- Make the services you offer clear?
- Reach and engage your audience?
P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business :
1. Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.
4 Ways to Position Your Tech Business to Attract More Clients Click here.
3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.
2. Schedule a 15 Minute assessment call with us – Click here.
We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.
3. Join our Techcelerate Implementation Program and be a Case Study
I’m putting together a new coaching case study group at Techcelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.
Life is short. Take action now and grow. Best Wishes.