Why Rebranding Your Business Could Be A Smart Move for 2020 and beyond
By Mila Jones
Change is the only constant. Things change over time, and so do companies. Great businesses like yours, expand their services and product list over some time, and the change in the company profile and what it has to offer. As your business continuously expands by exploring the different market and potential customers, your business will definitely need a rebranding to reach the new targeted audience and make the previous one stick with you.
Time to Rebrand Your Business
Now that we have mentioned rebranding, you ought to know when is the right time to rebrand your business. We can share with you some relatable situation which will urge you to rebrand your business, go check them below :
When you’re in a rat race
A rat race is not a good place to be, you need to get out of it as soon as possible. Over time, businesses often tend to make an emulsion of their brands and motives. If you use stock arts – photos and other digital visuals, it can take a toll on your generic business as people easily recognize the photo they saw the other day on a free stock photos’ website.
To escape this situation you should rebrand your business for the sake of its identity and originality. This is the perfect time to rebrand your business and regain your uniqueness. It’s past time to quit the rat race and rebrand the generic out of your business and make it stand out from your competitors.
Your present branding is outdated
If in the present day, your business is hosting a flash-based website, with strongly contrasting colors from the late ’90s and the same old fonts, then your branding is definitely going to look outdated. Excellency in branding can take your business to a different level of success. Almost all multi-billion companies believe in rebranding after a certain time, you should too. Make your website and its interface catch up with today’s mobile and digital time.
Bad reputation?
Businesses are often to have both good and bad reputation over the years. So if some serious bad reputation is taking a toll on your business due to some silly mistakes you made a couple of years ago, there’s no better chance to right the wrongs. Start with rebranding your business as soon as possible. Give your business the divine light of rebranding which it deserves and sees it blooming like a fresh garden.
Evolving exponentially?
You started your business delivering fresh iced lattes and hot coffee to your clients at home, and now you’re into delivering snacks like churros, sandwiches and other stuff for munching. That means, your business empire is growing rapidly and positively, and you’re adding new things on the list of what you have to offer to your customers. But how will your customers come to know that you deliver mid-day snacks too, rather than just delivering freshly brewed coffee?
Your old branding is still tied neatly around delivering coffee. This is the time to rebrand your business and it’s model. By rebranding, your audience will become aware of the changes you have incorporated and will seek advantages of those changes. All of this will lead to great sales and greater revenues. Do your homework well and rebrand accordingly.
Rebrand Without Losing Your Audience
Now that you’ll be rebranding and attracting a new audience for your evolved business, would you like to lose your current audience? Definitely no. Yes, you want to expand your business and reach out to a new market, but losing an existing one is a dumb thing to do. So how can you not lose your audience and still rebrand? Well, the best way to rebrand and not lose your audience is by giving them the best service you have to offer and take their mind off rebranding. Yes, they need to know about the rebranding and evolution of the company, but they need not worry about it. Your rebranding should minimally affect your current customers.
Also, you should have a rock-solid strategy to start with rebranding before you actually start rebranding which will include seeking public reviews and informing your core customers.
Rebranding Checklist
Despite all the issues which might come along with rebranding your business, you should think about the end result – a major hike in your resources and income, if you plan your rebrand correctly. To help you do this, we here have an up to the minute Rebranding checklist.
- Think out clearly if your business needs rebranding? Have concrete reasons that support the rebranding of your business.
- Start by informing your stakeholders and loyal customers that you will be making changes in the brand appearance and exploring new territories.
- Look upon and group the things your rebranding will include – website theme, product profile, services offered, name changes, etc.
- If renaming will be a part of your rebranding strategy, you need to brainstorm some top names with your inner circle.
- If you will include renaming in your rebranding than search for brand names for sale on some of the best online platforms which offer this service.
- Create legitimate and creative USPs and taglines for attracting a new audience.
- Don’t use generic images and visuals.
- Personalize your stationery, websites and email addresses as per your businesses’ rebranding.
- Update your company’s motives online after you have successfully figured out what you will be rebranding for.
- With the help of graphic designers and some creative heads, invent a new logo for your business.
- This time make sure that none of your brandings is generic.
- Don’t take part in the rat race again.
- Update your brand continually as your services expand.
- Stay hungry for success and work with full honesty.
Author’s Bio:
Mila Jones is a Senior Business Consultant, with rich experience in the domains of technology consulting and strategy, she works with both established technology brands and market entrants to offer research inputs and insights on leveraging technology as a source of strategic competitive advantage. She is a prolific author and shares her expertise with tech enthusiasts on popular digital publishing platforms. She loves not only to write about several topics but also loves to explore new ideas about Lifestyle, relationship, travel blogs and many more.
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