The six most expensive words in business are, “We’ve always done it this way.” If your company is operating the same way today as it did when it started, then you’re not evolving, which means you’re missing out on dozens of opportunities and sales.
Change is nothing to fear. It’s necessary for brands that want to remain viable. When assessing brands that did not transform and are now extinct, Blockbuster comes to mind.Â When Netflix began sending DVD’s through the mail, Comcast began offering on-demand videos and Redbox started selling $1 videos at kiosks, Blockbuster became reactive which eventually lead to them closing their doors. Whether it’s an absolute overhaul, or a few minor adjustments, every brand stands to benefit from a bit of improvement. Here, BlackEnterprise.com highlights tips to reinventing your brand via social media:
Revamping involves taking inventory of your brand’s strengths and weaknesses. Ask yourself: What’s the long-term goal? What will it take to get you there?
“You must be objective and sincere about your brand and its practices. If you have business, marketing and sales plans, carefully review them, again, and then conduct an online SWOT [Strengths, Weaknesses, Opportunities, and Threats] analysis using Creately,” advises Maria S. Harper, chief executive officer of Real Divas.
Social media is an excellent way to keep up with competition and trends in your industry. Social media analysis should be done along with your normal competitive analysis, and on a regular basis once your social media program has launched.
“Take the time to review your competitor’s content posts; monitor hashtags, and identify those who follow them online, says Maisha B. Hoye, managing member of Customer 1st Marketing. “The takeaway here is that you, by looking at your competitors social media platforms, you have metrics for your branding and messaging effectiveness and can take steps to reignite your engagement with your market.”
Connect With Your Network
If you want to be seen as a go-to brand, you’ll need to ensure that you provide valuable information and assistance to your network.Â Â “Effective connections involve reaching out to people on a regular basis, monitoring (politely eavesdropping) their social media discussions; engaging them with relevant content and an approachable online personality,” adds Shannon Henderson, owner of ImShannon.com.