Posted: March 15, 2016
Is It Time For You To Rebrand?

 

You’re busy. We get it.  In fact, we’re grateful you’re taking the time to read this!

But, even in the middle of your hectic schedule, you really need to think about your brand.
Because every company has one, whether they know it or not. What do your customers, prospects and competitors think about your business? What kind of reputation have you built? Are you the #1 choice in your community?

What should your brand be doing in the first place?

Before we get into the “how’s” and “why’s” of rebranding, ask yourself if your current brand does these things:

Make a good impression. What’s a person’s first impression of your business? If you have a physical location, is it clean, attractive and staffed with friendly experts? Is your website updated and easy to navigate? Are your marketing materials well-designed and interesting to read? All of these things contribute to your “getting the sale” — or not.

Communicate your Unique Selling Proposition (USP). There needs to be something — at least one big thing — that you do better or different than your competition. (Otherwise, why choose you?) Maybe you have the very best product/service, excellent customer service, or something else unique that nobody else offers. When you’ve identified your USP, make sure you communicate it in everything you do.

Connect with your target audience. Do you truly understand the people you need the most? One of the most important things you can do is listen. Talk to your customers and engage with them to get their feedback. Compliments are great, but you can only learn and grow from honest, constructive criticism. After you make adjustments, reward their loyalty. It’s also important to reach out to your local community and be a good corporate citizen — which usually pays off with a better reputation and increased sales.

Define your business’ personality and image. Step into your prospective customer’s shoes for a moment. When you see the business, do you think “they’re friendly professionals who will help me with my needs?” Everything about your company should be a consistent representation of who you are. Customers want to feel good about their purchase decisions and do business with people they like. So work from there!

The bottom line is that your brand should demonstrate what’s special about your business and show you in a positive light. If your current brand doesn’t do those things, it’s definitely time for a rebrand. (Of course, if you’ve been around for 30 years and never updated/changed your brand, it’s also time to get moving!)

How do you know when it’s time for a rebrand?

Companies of all sizes rebrand — and some older companies have been through multiple rebrands over the years. If you think about it, a rebrand can be a sign of long-term success; you must be doing something right to stay in business long enough to need one!

There are many reasons to rebrand, but here are four common ones:

• Leadership changes. Whether it’s a new CEO or CMO, companies with new leadership often do a rebrand. Sometimes it’s just because those new leaders want to “put their stamp” on the company, but many times it’s a change for the better. (There’s always room for improvement!) A new brand identity or a refresh represents a new direction for the company — or a new way of representing what made it successful in the first place.

• Mergers and acquisitions. This can be tricky, since we’re talking about two distinctive companies coming together. With a merger, you have two brands to consider and one big decision: Does one company’s brand “go away” while the other takes over? Or, do you merge them together to create a brand-new identity altogether? It’s a little easier with an acquisition, in that usually the acquiring company’s brand remains intact and incorporates the other brand. Whichever strategy you choose, any changes in your company’s brand identity — and the reasons for them — need to be clearly communicated to keep customers informed and avoid confusion that could result in losing them.

• Customer changes/evolution. Just as your company grows and evolves, so does your customer base. They grow up, they move, their budgets change; there’s a lot that can happen, even from year to year. You can demonstrate that you’re changing with them by rebranding, and remind them — in a new way — of the reasons they chose you in the first place. You might even win back some old customers with a fresh, new look!

• Repositioning. As your business grows, your brand changes — and may begin to stand for something different than it originally did. You need to evolve the brand to reach new audiences and connect with them. Make your brand work for you, and update/refresh it to reflect a smart, dynamic business that is dependable and relevant. It might even be a whole re-do from the ground up, changing the basic elements of your brand (logo, colors, fonts, taglines, etc.).

You’ve committed at least a few minutes to read this. (Thanks, by the way!) We urge you to spend a few more minutes thinking about the questions we’ve asked — and consider where your brand is right now. If you’re super-successful, keep up the great work.

But if you think a rebrand is in order, you have the building blocks here to start planning. And of course, you can always call on us for help!