When many people think about the term “branding” in terms of business, they think it’s simply a logo or a slogan. In reality, branding is so much more than that — it’s a significant part of your business that could be the difference between whether or not a customer chooses you or your competitor. Can someone look at your website and immediately tell what you do, and how you can help them or make their life better? If not, chances are good that you need to rebrand your business.
Your brand is your company culture. It’s who you are and what type of experience you promise to offer your consumers. Rebranding is a good way for any business to grow and scale, increase revenue and stand out from the competition.
The goal of rebranding is to identify your X-factor — the one thing that makes you stand out from your competition — and create a new identity with your employees, consumers and the general public.
Here are six reasons why companies we’ve worked with needed to rebrand:
- They no longer loved their logo, or they felt like their branding no longer spoke to their company’s values and products.
- They’re entering a new market or offering new services, and their name no longer reflects who they are.
- Their brand looks too much like everyone else and doesn’t stand out from the competition.
- They need to compete at a higher level. Often when they first launch their company, they’re thinking small and local and didn’t invest in professional marketing, so their brand looks small.
- They need to outgrow their poor reputation.
- They are ready for a newer, more modern look.
If any of these reasons apply to you and your business, it’s probably time for a rebrand. Here’s how you should go about rebranding your business.
- Define who your current customers are as well as the new audience you want to go after. Do you want to break into a new market? Or do you need to be more focused on pursuing your current customers?
- Define what your current brand identity is. What do people think or feel when they come in contact with your brand? Do this by talking to your employees and surveying current customers. An easy way to do this is to send out an e-newsletter using software like Survey Monkey to get questions answered. Pro tip: It’s always a good idea to throw in an incentive for them to fill it out. Maybe their name goes into a drawing for a giveaway, or they get a discount if they complete your survey.
- Decide if your company needs a new name. Does your current name reflect who you are? Does it stand out from the competition? Even if you keep the name, you can update your brand look with a new logo and graphics to give it a more modern feel.
- Come up with your irresistible offer. What do you do that separates you from everyone else in your space? Does your tagline reflect this? Don’t try to get fancy here — use words that everyone can understand. An example of this would be my coaching program. My tagline is: “I help female CEOs and entrepreneurs create a personal brand online so they can achieve time freedom and financial freedom.” It’s simple and straightforward.
- Create your brand-building plan by identifying what isn’t working, how you’ll fix it and a timeline for when these changes will occur. This plan will likely include editing your name, logo, website, social media messaging, digital marketing strategy, business cards, and more.
- Roll out your new branding to your employees first, then create an external marketing plan to share it with the world. It’s important that your employees buy into the new branding.
If you look at your company’s logo, website, or social media pages and it doesn’t reflect who you are today, it’s time to rebrand. If you’re ready to take that next step, click the ‘Get A Quote’ button on our home page to connect with D2 Branding!