The beverage industry is an ever-changing one. What was popular yesterday may be out of style today, and what may have been well-received five years ago could now be a disaster. That’s not always easy for companies that have invested vast amounts of time and money into their product lines only to find that they are no longer relevant – but it’s just something a business has to deal with if it wants to be successful. We’re going to look at some creative solutions businesses are using when faced with these problems!
This may not be an option for everyone, but it can be a great way to breathe new life into your company if you have the opportunity. The whole point of rebranding is to create something fresh and exciting so people will immediately pay attention – which means getting rid of things that are outdated or don’t work well anymore.
Changing the Product Line
Sometimes a company is so heavily invested in their current product line that they can’t afford to rebrand – or it isn’t even an option. In those cases, you have to change the product! This could mean changing flavors and ingredients on existing products and going beyond this by creating new products. By expanding into other markets, you open yourself up to a whole new customer base who will hopefully stick around for years to come.
Working with a New Vendor
As we’ve mentioned before, the beverage industry is constantly changing, and there’s no way to stop it. You can’t force people to keep buying your products if they don’t want them anymore – but you may be able to do some convincing by working with a new vendor! By using different bottles or cans from your current ones, even just slightly altered versions of what you’re currently using, you could attract customers who are looking for change while still staying loyal to their old favorite brand.
Updating the Brand
There are many ways to update your brand without completely changing it. If you’re looking for a way to save money and still make people excited about what you have, this is the perfect solution! You can change colors or fonts – even logos if they aren’t trademarked by someone else. By simply refreshing some of the elements that your customers see every time they buy from you, you could breathe new life into an otherwise tired product line (and company) with very few changes at all!
Article originally published on HowardDavner.com