Expand And Grow: Tips To Evolve Your Brand Into New Markets

Mar 27, 2022
3 min read
Expand And Grow: Tips To Evolve Your Brand Into New Markets Image
Dots SVG Image

Years have gone by, and things have changed. Perhaps you only had one or two employees in the beginning, but now you have 20. While you may have been scraping pennies together back in the day, your marketing needs and budget have now grown substantially. And it’s not just your company that has changed. Things are going on in the world. Your audience’s needs have shifted as well. You see new opportunities in new markets. You know it’s time to take the next step in your business, but is your brand actually ready?

Evolving your brand for growth is a lot of work, but it can be a bit easier if you know where to focus your attention. Brand evolution is a process of shaping a brand around changing consumer and market behaviors based on feedback. It takes time, but it’s worth it. Expanding into a new vertical—taking your existing product or service into a new market with an untapped customer base—can be a viable path to increasing revenues and meeting top-line growth objectives. Use these tips to focus your attention to know how to evolve your brand for growth: 

Use Customer Feedback As A Guide 

There’s no need to guess. Customers are usually more than happy to let you know what they like and especially dislike. Customer feedback can come in structured online reviews, but you can also find valuable feedback in online forums, social media comments, phone calls, and emails to your support department. All of this is qualitative data that you can use to guide what you do and don’t do next. Think about your company’s expertise and whether the opportunity to expand into a new vertical builds off of your core strengths. Does the opportunity leverage your past experiences and what you do best, or does it require a new competency? 

Keep Your Audience Informed 

One way for your company to grow is by expanding your service or product offerings. This can include brand new products and services or adjustments and improvements to what you already offer. Either way, it is critical to make sure that both your current and potential customers are in the know about the additions or changes you have made. There are audience members who choose to support companies based on branding and online content. 79% of consumers say brands have to actually demonstrate they understand and care about them before they consider purchasing. Keeping your audience informed can help with this. Consistent communication shows that you care about the relationship between you and your audience. Unfortunately, as many companies grow, many neglect to keep their branding up to date. Customers know your brand, they support your values, and you are immediately recognizable through your identity. By evolving your brand, you will find it easier to keep in touch with your existing client base and retain your brand equity while still having the ability to reach out to new customers who may not have engaged with your original brand. 

Learn From Your Competitors 

Next, you should conduct a deep analysis of the competitive landscape. How competitive is the space? Who are the players? Are there any winners? What types of new competitors are likely to emerge? What are the barriers to entry? Most markets don’t change overnight. They follow a slower evolution. Smaller, subtle developments to your brand can allow you to remain relevant in the marketplace without suddenly making costly changes because you remained stagnant. Pay attention to what your competitors do. What worked and what didn’t? Analyze this information to determine how you can offer a greater value proposition. Sometimes, your customers’ attention may be caught by a new player in the market. They look new and fresh, and in contrast, you may look slightly more old school. Choosing to evolve your brand allows you to keep your aesthetic fresh and competitive while keeping your audience engaged. 

Even small changes can impact your audience and sales and positively affect your company’s growth. Letting your brand evolve over time makes it easier to stay true to your original values and retain your audience because they understand that you are listening to them and keeping up with their needs. 

If you have an established brand that needs evolution to remain relevant to your customers’ needs and the everchanging marketplace, contact us to discuss your challenges and how we can help.

In this article
Get FieldRoutes updates in your inbox

FieldRoutes needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, please review our Privacy Policy.

Wanting more? Check out some of our other tips and tools!

FAQ: Making The Transition To FieldRoutes As Your Software Provider

FAQ: Making The Transition To FieldRoutes As Your Software Provider

Knowing the technical steps of making a transition from one software provider to FieldRoutes is important. But you might have other questions.

The Secret To Keeping Customers Happy Throughout Busy Season

The Secret To Keeping Customers Happy Throughout Busy Season

Exemplary customer service is king in the field service industry. It can be easy to let things slip when things get busy, but don’t forget that customer retention is good business. Customer acquisition can cost up to five times more than customer retention, so it’s worth investing in strategies that will prevent your customers from melting away when things heat up. So when the weather gets warmer and the calls flood in, ensure you and your team have the tools to make hay this summer.

Preparing Your Field Service Business For A Natural Disaster

Preparing Your Field Service Business For A Natural Disaster

Expect the unexpected. In this Checklist, we’ll go over a few actions you can take to help maintain operations during emergency situations.

Top 6 Automation Hacks To Get Your Time Back

Top 6 Automation Hacks To Get Your Time Back

Growing your business shouldn’t be this hard. Do a great job, sign up more customers, then kick back and watch the money roll in.

3 Ways You Can Attract And Retain Millennial Customers

3 Ways You Can Attract And Retain Millennial Customers

Finding software that meets your operational and marketing needs can be tricky. That’s where FieldRoutes comes in. Our fully integrated Marketing and Operations Suites give you the tools you need to appeal to millennials and grow your business.

How To Get Rid Of Late Payments Pests

How To Get Rid Of Late Payments Pests

If you need help improving your collections process with cutting-edge technology, contact FieldRoutes. Our experts can help you identify the solutions you need to protect your bottom line.

FieldRoutes helps field service companies simplify, scale, and grow.

Graphic Conversion Panel