One of the most important aspects of any business, big or small, is the brand; if you’re Steve Forbes, it’s THE single most important investment for any business. That’s a lot of weight to carry for something that might seem like a minute detail in the wake of so many other business decisions.
To solve this issue, many companies undergo a rebrand, which can help your products reach new audiences, improve a company’s reputation, or help a company when multiple brands merge into one. Let’s examine some questions to consider when thinking about rebranding and three ways to make sure your rebranding efforts are successful.
Is it Time for Your Company to Rebrand?
Take a moment to review your target audience. Here are a few questions to consider:
- Are they still the same as when your company first started? Chances are, your clientele base and prospective customers are of a younger generation and want the latest and greatest products to satisfy the instant gratification driving culture of today.
- Does your brand reflect its currency with today’s evolving trends and is it relevant?
- Does your brand reflect the mission of the company and are you accurately reaching your intended audience?
- How does your company match up to the competition? Are you a leader in the industry and dominating the market?
If the answer to these questions is no, rebranding may be the help your company needs. Your company brand is a reflection of your business and what it can provide to your customers. It must be engaging, reflect company values, and be current. Without an up-to-date brand, a company may fail to bring in new clients and lose existing ones to competitors.
These helpful tips will get you started on the rebranding road to success.
Research, Research, Research!
Make sure you understand your current customer and what their wants and needs are from a business. Gain as much insight as possible from customers, prospects, employees, and lost prospects about your company and its reputation and be open to what they have to say. Asking for honest feedback may be a little unpleasant at times, but keep the end goal in mind and know that this advice will help your company grow.
Review your company’s values and mission and make sure they are current, and that they accurately represent your company and where you fit in the market. Think about what you want to achieve through rebranding, and your goals for the project.
Strategize
Making sure you have a sound plan in place for your rebrand is crucial to assure that the project is a success. Many companies try to rush the rebranding process and don’t lay out a clear strategy for moving forward. The result can have negative effects, including confusing and frustrating audiences who may have been loyal customers but have now lost their trust in the brand.
Remain as transparent as possible about the process, using various modes of communication to spread the word to your audience so nobody is caught off guard. Be sure to get internal employees on board with the project, and make sure to educate them properly.
Market Your Brand
No rebranding would be complete or successful without a strong website to help drive your presence online. Our age of technology has everyone on their smartphones, computers, and laptops more than ever, making a website your most valuable communication and business growth tool. A custom website that can be used to easily and quickly communicate via email and social media will help spread the word of your new brand, and help bring new clients to your business.
Rebranding may seem like a large endeavor, but by focusing on research, strategy, and marketing you can refresh your brand and attract the clients that matter.
