- Your target market has changed a lot
Your current brand message, design and package is perfect, but they are not at all relevant to big shot companies that are now your ideal clientele or you may have expanded on the demographics.
- The main advantages or propositions have now changed too
You may have launched your business to provide specific products for people, but now there are more benefits available in your business on the basis of the market trend or customer feedback. Collaborate or hire an advertising agency in Singapore to make the most of this change.
- The offerings or the prices have changed
This is not related to expanding your product or service line. It is more about a computer seller adding consulting services. When there is a shift in the value you offer, you impact the customer you are offering your services to as well. This can be done in two ways: you can either rebrand your company or spin off an entirely new brand.
- The competitive landscape has changed
When you launched your business, maybe no one was doing what you do or serving that very certain market. But as the competition change, the brand needs to adapt. Check if your competitors are giving something different entirely or telling a different story, check if the industry has commoditized and everyone is interacting in the same way. Maybe you need to go right when they go left.