Day 4, 2016 – REBRANDING EXISTING PRODUCT/SERVICE

Another factor that can boost your end of the year sales is “Rebranding Of Your Existing Product/Service”. If you are yet to come up with a new product/service, you can as well rebrand your existing product/service.

If there are no changes in your sales turnover for long; you need to engage in this so that you can have the share of the market that has been taken over from you by other competitors. Rebranding is expedient when you are having down sales moment in a period like this, rebranding wouldn’t be a taboo. 

Rebranding is working more, better on your existing brand for improving result. Rebranding is a must when you realize that you have exhausted the benefit from your existing brand, when you are convinced that there is need for you to cause a wave in the market for better and renewed recognition.

Rebranding Medium

Name: This is not a good rebranding means except in the case of merger or necessary instruction by governing body of such industry. Just like the case of what happened in the banking industry recently, there was need for every banking industry that has stockbroking and microfinance to get a new name due to some pertinent reasons. 

If you think you have better reasons of changing your product name that will help to boost your sales, then, go ahead and ensure it last longer. 

Logo: You can also rebrand by changing your logo with better meaning and attraction of your existing and new customers. Consult or work on tracing new logo that will spell out who you truly are and you vision to the world at large. 

Colour: You are free to change the color as well for distraction that will prompt attraction. Ensure that all your rebranding medium has a good connote that will convince your customer that new things are happening that can sustain them. 

Restructure: Only a fool will maintain the same method and expect different result. Restructuring to solidify your business and boost your sales wouldn’t be a bad idea. 

Merge: Merging doesn’t connote failure; it shows a thirst for better and improving result. Don’t be too pompous to merge with business and company owners to deliver enviable result after documenting all legality. 

Recapitalization: Boost your capital to boost your sales turnover as well. Realize this through every legal medium. You can invite investors, directors who can pool their finance together to make your business thrive and soar higher than you ever imagined. 

Value Addition: As a business man or woman, you can boost your sales this end of the year by adding value to your product/service without price increment. What people are paying for is value and if they can place their hands on value addition in any product, they are ready to patronize. What people do in advert or marketing is to reveal the value that can be derived from the product/service being introduced. 

Change Of Face: Companies are leverage on this timely. Companies are ready to spend fortune to have the face of someone who is pulling crowd presently to be the face of their company likewise; you also need to change the face of your business at your level. 

Changing of the face will cause an attraction that will boost cause people to throng your office or line to seal deals. It is what you call AMBASSADOR, someone who can promote your product/service. 

Repackage: Always think at all time to get ideas to help your sales, among which is repackaging of your product/service. Churches also have good package for new comers, companies repackage their products to give their costumers confidence that they are progressing at all time. Repackaging doesn’t necessarily mean that you spend more to get more; you can even spend less to get more sales. 

Some banks have repackaged by not spending more on the deposit slip, which use to be in triplicate but ensures a small nice print out with a clear detail of your deposit through a small machine that has been bought once and for all.

Branded Shirt, Polo, Tie, Wristband: You can rebrand your staffs by making them put on the listed so that your business or company can be rebranded and wherever they are, they are speaking about your product/service at any point in time.

Dapo Olaleye, an Associate Pastor in Balance Gospel Ministries International Headquarters. He is the President of Business Xploit Group with Nine Subsidiaries through which lives are blessed around the globe. Chancellor of Business Xploit institute, Facilitator in School Of Discovery (Gospel Dominion Prayer Ministries), author of seven books (Unlocking Your Potentials To Profits, Uncommon Sense Guide To Making Money, Woman! You Are A Blessing Not A Burden, Ladies Of Dignity, More Than Money, A-Z Secrets Of Academic Excellence, Becoming An Academic High Flier and Generating God’s Ideas For Business, Ministry, Career (CD)). He is an alumnus of Daystar Leadership Academy and Daystar Business Academy and Student of Word Of Faith Bible Institute. He can be reached via: bizxploit@gmail.com, 08122927079.