In business there are moments when this is more obvious than others and the effects are tangible as we struggle to create new leads, retain customers and see our profits begin to take a nosedive.
When this happens we need to sit down and ask ourselves if our brand is working out or if it’s time to consider a do-over and starting your brand up again from scratch. Well not quite scratch, you’ll be able to build on the work you’ve done previously but instead think of it as giving your tired old look a makeover and grasping the opportunity to shift position in the market.
If you find that you are simply blending into the wall of companies offering a similar product or service to you, then it’s time to do something to make yourself stand out. Ask yourself how you are unique from everyone else and what selling point you have that no one else out there can lay claim on. Use this as your springboard to start making some changes in your branding and online identity.
Perhaps the customers you were connecting with just aren’t out there any longer. Their needs may have changed but either you haven’t noticed or you’ve been too slow to affect real change within your organisation, change that could have helped you retain your customer base. Now is the time to get your market research up to speed and see who is buying your products and services and how you can connect better with them
It might be that the reason you’re struggling is that your old brand no longer inspires confidence in people. Perhaps you had some bad publicity for whatever reason and your brand is no longer as trusted as it once was. A rebrand is the perfect opportunity to start again, sweep out the old and bring in the new.
If you feel your reputation needs a little extra help then do some research into top reputation management companies who might be able to help you through this blip.
Another perfectly valid reason for a rebrand is when you want to make some significant changes to the way you do business. Under your old banner it might have been hard to offer the same products at higher prices but with a new look and approach you’ll find it slightly easier to introduce an increase in the price of your services.
Perhaps too, what you’re offering needs to change. You might have found that what you were selling has tailed off in popularity and you want to shift your offer just slightly. This can again be hard to do if you’ve long been associated with the same products or services but a new identity will allow you to create more scope for your business.
Behind the times
The last reason is perhaps the hardest to pinpoint but you feel that perhaps you’re just a little out of step with what’s on offer. Your competition has grown, you feel that you’re out of date and behind the times and that you just need a shake-up.
You’ve noticed that your recruitment drives haven’t attracted the top talent that you wanted and that your rivals are becoming increasingly more innovative. You know you need to reposition yourself if you want your brand to last long into the future and be an adaptive, competitive concern.
Rebranding can feel like it’s going to go on forever and there are certainly a lot of factors to consider. Before anything can happen you need to gain the support of any staff that you have, ensuring that they will act as brand ambassadors for your campaign and are fully behind the transition. It can be tough changing over and a negative workforce will only make this process all the more hard for everyone.
Business experts say that you need to start your rebranding exercise from the inside out, begin by changing over all your policy documents and logos, including stationery and then get started on your external campaign. Make sure your marketing is on point when it comes to selling your new brand, talk to existing customers, target new customers and launch with a fanfare.
Make the most of any opportunity you get to talk about your new brand, across social media, through press releases and of course on your own website. Create a new brand and see the difference.