Is it time for a change? If your company has seen slumps in sales or new business, increased competition or internal changes - it may be time for a full or partial rebrand. It’s important to identify the reasoning behind your rebrand in order to set goals that will guide the rebrand strategy. While mergers, acquisitions and other larger changes are typically the reasons you hear that guide people towards a rebrand strategy - small businesses need to consider rebranding as well. Here are 3 ways you can tell if your business needs to sit down and think about a rebranding strategy for success!
Does Your Business Need A Rebrand Strategy?
1. Do you want to target a new audience?
If you are looking to move into a new market, age group, location or any audience you have not previously marketed to - it may be time for a partial or full rebrand. The decision to go after a new audience is not an easy one and will take some work in order to make your business more attractive to that target. You may decide you want target a new audience in order to boost sales, adjust for your evolving business or change up your clientele. Many businesses realize that they have been attracting the wrong audience and getting clients who are not loyal or leads that are not closing. This can be because your brand messaging isn’t lining up with what you offer or the value you provide. Misaligned or off-brand messaging or tone on your website may cause people to try and negotiate pricing and/or cause you to lose prospects because they feel you are not worth what you charge.
2. Is competition is heating up?
Is your brand too generic? You may have trouble differentiating yourself against your competitors without a unique, targeted brand image. On the other side of things, maybe your logo, messaging or imagery is too confusing for your target audience. You may notice competitors using simplified ways to explain what you do and market to your same audience. If competition is heating up, it’s time for a rebrand. Simply updating your logo and working on your brand messaging and tone can help tremendously to differentiate your busy from competition.
3. Have your company’s mission or core values changed?
As your company grows and evolves, it’s natural to change values and mission statements. A rebrand can help refocus your team together in the direction you want your company to evolve. Freshen up your brand in order to make most of the changes you’ve made in your mission or values and attract the top talent that will fit into your culture. If anything internal changes are happening at your company, your website and online marketing should most definitely reflect that.
Is it time for a rebrand?
Branding strategy is not only for big companies and brands, small and medium size businesses benefit from a solid brand strategy and implementation plan as well. Identify new target markets and ways to market to them, update your website to differentiate yourself from competitors, and more! In today's market, all size businesses in every industry need to step up their game in order to increase presence and revenue from online. Let's talk about how your business can get started!