3 Signs Your Business Is In Need Of A Relaunch

Written by Chloe Harwood

It’s an event that draws attention, brings customers, opens the eyes of the world to a business. However, there’s no doubt the concept is somewhat odd. When a business is first born, it goes through a launch, and then that’s it. Or it should be.

There are times in business, however, when you need to capture lightning in a bottle – twice. A launch event offers a chance for a little razzle-dazzle; a natural way of capturing attention. When you have been in business for a few years, the dizzy first days when your company was shiny and new can seem a long time ago.

However, they don’t have to be. A relaunch can be a perfect way of manufacturing an exciting new era of your business, even if nothing but superficial aspects of your company have changed. For every new logo or product launch, you have a chance to relaunch your business as a whole. Here are a few key signs that your company could do with a relaunch on a grand scale, to help bring a little excitement back into your enterprise.

  1. You’ve Been In Business For More Than Five Years

After five years, a business is doing well. You’re stable; you’re making a profit; everything should be perfect.

However, it can be around this point in the life of a business when the gloss is beginning to wear off. If you’ve not done anything new and exciting recently, then you can quickly fall into bad habits and easy solutions. By injecting new life into your business with the focus point of a relaunch, you can help to be sure you’ll still be in business in another five years time.

  1. You’re Not Drawing In New Customers

Existing customers are essential to the health of your business. The ones that keep coming back help to ensure your business manages to stay afloat, so they are not to be taken for granted.

However, for any business to grow, existing customers aren’t going to be enough. You need new customers; new money that can flow through your business. If you’re not getting new customers on a regular basis, then relaunching can be the perfect way to draw attention to your business. Using event planning software, you can compile a perfect guest list that offers something new to existing customers but ensures you leave space for potential new clients.

  1. Your Marketing Strategy Isn’t Working

It’s tough to acknowledge when a marketing or advertising strategy isn’t working. You’ve spent a lot of money, so you want to see results – and you’re willing to wait for them. Unfortunately, this can leave you falling victim to the sunk cost fallacy.

If you’ve spent money trying to draw attention to your business, and no such attention has been forthcoming, then you need to do something different. Relaunching a business draws attention from various quarters, such as the press, other businesses, and customers who are attracted to the chance of shiny new things. Surely it’s worth giving it a go, if what you’re doing presently isn’t bringing forth results?

So the next time you have anything – anything – new about your business, it might be worth considering a relaunch.

About the author

Chloe Harwood