Updated: Jan 2, 2019
From my experience, both as a marketer and as a designer, when revenues are not as expected or sales are down, most times the branding is wrong, and usually it's the last thing managers think of. "It's the sales reps" they would say, "it's bad leads, the CMO is not doing his/hers job.." and so on. This all can be true, but why don't you first look at the core and see if everything is set right there?
The foundation of every company is the brand, and if it is not solid it will eventually catch up with the business.
So don't wait, take your managers, sit down and think. Usually, the first thing you will think about is your business, company, your frustration. But you need to understand - it's not about you, it's about them - your customers.
Who is your customer? Is this the right customer that you need in order to reach your business goals? Maybe it’s just the customer you’d wish you have but in order to get to him you first need to focus and cater to another segment?
Sometimes you find that the customer you were trying to sell to is not the right one, and sometimes if you want to focus on specific customer segment you will need to change your value proposition, your brand’s personality, the tone you use in your marketing... There must be correlation between who the brand is, what value it brings and the customers the brand caters to. Otherwise it’ll not work.
It doesn't mean you need to rebrand, it doesn't necessarily say that your logo is wrong. Think why would the customer will buy your product or pay for your service? What customer needs you answer? What are their pain points and how do your product or service benefits them.
Here is a short and quick paper that might help you understand the two most important things you need to define when working on your brand. Click here to read it.