Our company just went through some tough times. We ran out of funds, laid off 90% of staff, and lost a large portion of market share to new competitors. We feel that we have bad public sentiment amongst key stakeholders and we'd like to turn that around. We just received more funding, and our plans include re-branding and re-launching the app, doing a little bit of damage control, and fully pivoting our business model.
We are looking for guidance into how to go about doing this in a strategic and planned out manner. Also, we are looking for an expert in the field who we could work with.
First of all I want to give you a lot of credit for what you are doing. One of the great things about being a business owner is that the successes are truly your own, but the downside is that the failures are too. Going through the tough times can be emotionally and physically exhausting.
To get started with, well, getting started, you need to first deal with the past crud and work to rebuild the business' reputation and trust. Too often businesses attempt to start fresh under a new identity without addressing the baggage and ultimately they are not successful because the air has not been cleared. Think about any major company that has had a PR nightmare whether it be tainted food, tampered packaging or a mechanical error. What do they do? They publicly admit they messed up and expressed their plan to ensure it doesn't happen again.
Now for you, I am not saying to alert the media. Simply start with your stakeholders. Reach out to those you feel you have wronged. Invite them to coffee or lunch, talk through the problems and get their input as to what and how you can improve during this next phase. As you build up trust, your network expands organically, and as you clear that air, those former foes now feel that they are playing a part in your new endeavor. Once you start to rebuild that reputation the re-branding and re-launching is easy.
Everyone makes mistakes. It is how they are dealt with that makes the lasting impression, and frankly, people in business want to help others with their business.
Too many businesses give up so it's great to hear that you are up and going again.
I recommend spending a lot of time on comms. Reach out to existing/current customers and stakeholders and be as transparent (about the past & future plans) as you can to help build trust and hopefully mend relationships.
The best example of that in the marketplace to date is Buffer. They are a little crazy as they are a fully open startup but I admire what they are doing and even taking 10% of their approach can prove wonders for any venture (new or old).
Next, I would focus on surveying those customers to really show that you listening and want to build something even better than before.
Following on from that work with your team to incorporate customer feedback. Then look at your persona's and marketing channels for early exposure.
Be careful not to go overboard here - Good marketing and exposure can be achieved without having high acquisition costs. Testing is your friend and allows you to double down on what works and to drop what doesn't.
If you have any questions please don't hesitate to reach out.
Hello!
Hope all is well.
I would create Eye-Catching Graphics! Something simple but noticeable. Something that people will remember when they hear your name.
Would love to talk with you more,
Please give me a call if interested.
Best,
William
I have been coordinating succesful rebranding launches for the last 30 years, from 500s to small size brands.
After though times, your team morale should be very low. This is te moment to create a charismatic brand, that will motivate your internal and external stakeholders. The launche needs content, and leverage results. Let's transform your potential into real call to action.
I am quite excited to have a call on this pressing matter.
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