Is It Time to Rebrand Your Business? Take Our Quiz to Find Out!
Sometimes rebranding for financial advising practices is a no-brainer, and sometimes it may not seem so obvious. But as your business’s identity, it is crucial to make sure your brand is in tip-top shape.
So when should you as a financial advisor rebrand your firm? We’ve prepared a four question quiz to help you find out.
1. Are you still reaching the audiences you would like to be?
A brand is a constantly evolving entity and chances are, throughout your years in the financial planning industry you have started to attract a different audience than you sought out when starting in the industry. Good or bad, if this is the case it may be time for a rebrand.
Think about the next five or ten years at your firm. Who would you like to be working with? What services do you offer now that you would like to discontinue, if any? Or, on the flip side, what services would you as a financial advisor like to ramp up and offer more of? These are all questions to consider when thinking about whether or not now’s the time for a rebrand.
2. Have you outgrown your current brand?
Like the question above, this consideration refers to where you were when you started your financial planning firm and where you are today. If we were to guess, we would say that you’ve taken on a few more associates, grown your service offerings, and increased your book of business. In the growth of a business, these are all good things. But it’s important to make sure your brand is growing, as well.
Outgrowing your brand doesn’t mean it’s bad, it just means you and your financial advising business are on to bigger and better things! Is your brand keeping up?
3. What do your analytics say?
As a financial advisor, you likely identify with hard and fast analytics, which is a good thing when considering rebranding. You can make as many guesses as you would like of who your content is reaching, but thanks to technology like Google Analytics and social media you can see what works and what doesn’t. Analytics are a great way for business owners, including independent financial advisors, to tell who is receiving their content and how well it is being disseminated.
Our whitepaper on Google Analytics is all about how inbound marketing strategies are driven by data.
4. Do you have a developed brand?
Lastly, and likely most obviously, you need to look at your current brand and how developed it is. For some financial advisors, their “brand” is simply a DBA and logo. In this case, rebranding will be as easy as building these assets out and creating a strategy around them. If you don’t have a fully developed brand yet, then now is the perfect time to consider a rebrand. Starting from scratch may be the best option, or you can build out your already existing marketing materials.
If the answers to these questions prompted you to consider a rebrand, check out our article on some first steps to take.