Innovation

Brand Repositioning

Live up to customers' perceptions of the company's significant role in their businesses.

Written by John Lorinc

F

reshBooks

Online accounting services firm, Toronto

The Challenge:

Live up to customers’ perceptions of the company’s significant role in their businesses.

The Reinvention:

After co-founder Mike Mcderment realized that FreshBooks’ small-business clients had taken to referring to his firm as their accounting system, he hustled to launch additional services, such as an iPhone app, an improved financial dashboard and expense-management categories geared to the tax code to match their expectations. He also had to sell the reinvention to the skeptics on staff who didn’t see a need for a big change.

There’s this healthy paranoia you have to have in your back pocket. You need a fear of being disrupted by something

The Outcome:

A broader suite of services has given the firm a potent marketing edge.

For more inspirational ideas on how to reinvent your business, read How To Cut Through The Clutter, Lose All The Baggage & Rethink Your Business Like It’s Brand New

Originally appeared on PROFITguide.com