6 reasons why you should rebrand
There are a number of reasons that might prompt a rebrand, here are the top 6 in our opinion.
1. To grow your business
In at number one is the affect that a well built brand can have on a business. Growth! A sound product / service, wrapped around a clearly articulated brand story, with a banging brand identity, delivered by highly engaged team will build nothing but trust with your customer base. If customers trust your brand they are far less likely to shop elsewhere…and I dare say….even if you’re a tad more expensive!
If your team is lead by a crystal clear brand story, giving each of them no doubt as to the purpose of your business and how they are contributing to its success, they move as one. With everyone pulling in the same direction, there is a hell of a lot less wasted time, effort and expense.
In our experience the signal of change from a rebrand works wonders internally in an organisation. Take your teams on the journey with you and give them something to get behind, a common purpose that they feel part of. This, in turn drives energy back into a business. More energy and enthusiasm equals more engagement and productivity. Win win!
• 82% of brand led businesses out perform their competitors*
• On average brand led businesses have profit margins nearly twice the industry standard*
*Booz Allen Hamilton and Wolff Olins.
2. Image vs quality
You wouldn’t spend your hard earned cash on a sports car with a clipart brand on the badge would you? Pretty sure you’d question the validity of that car and walk away. Unfortunately your brand will be looked at with those same judging eyes by customers!
That logo you bought for your business when you set up was great at the time as money was probably scarce. But now business is doing well, that logo might be doing more harm than good. If your product/service is sound, but business profits growth has slowed and you’re not landing those big clients you’re chasing, this could be a sign that your brand doesn’t match up to the quality of your product.
If a branded product looks cheap, you generally assume it is of a lower quality….right? And vice versa, if it looks great quality, you‘re more likely to invest in something you think will last. Logos, packaging, websites etc are the ‘face’ to your products. Ensure they look appealing and match the value proposition of your products and it will pay dividends. Don’t be a clipart brand, with customers walking away to your competition!
3. Outdated design
Do you want to be that guy on the ski slope wearing the all-in-one neon Campri onesie made in 1985? Or do you want to be that lady at the dinner party with the Dynasty-esque shoulder pads? No? Well your branding is no different…
If it was designed in the 90’s, your customers might just have the impression that you’re behind the times and not forward thinking. Most companies will update their branding every 7-10 years, to keep it looking fresh and in line with their up-to-date products and services. You don’t always need to reinvent the wheel…..just refresh your look. Google have rebranded 4 times since 1998…you don’t see them wearing sweaty hyperglow t-shirts now do you!
4. Your target customer has changed
So perhaps you set up your business 5 years ago, invested in some good branding amongst other things and well…business boomed. Suddenly you found that your Product/ Service was gaining interest from businesses rather than just consumers. Your products remain the same but now you make the decision to go after the B2B business in ernest rather than B2C. But…..don’t forget your branding and communications. Different customers have different needs, don’t assume your brand speaks to them all in the same way. ‘Jack of all trades, master of none’; we all know that saying. Don’t be Jack. Be laser targeted with whom your brand is talking too and make sure all of your communications address them directly.
5. The market has changed
There has never been greater shifts in consumer behaviours than we’ve seen in the past decade. “Print is Dead, it’s all digital now”. “Bricks and mortar businesses are doomed, online is where it’s at”. Not sure I’m on board with those damning comments, but no doubt things have changed…..a lot. Regardless of what the cause is for the change of behaviour in your market is, businesses need to roll with the punches and adapt to survive. Sometimes a rebrand is the perfect outward signal of change to your customers to let them know you are not a dinosaur, you are a mover and shaker. Ensure that your existing customers can see a difference and that you are adapting to their needs and values.
Consumers learn what to expect from a business and only a consistently delivery against those expectations will build a relationship of trust. As a business owner, if you meet a client face to face you have a lot of control over how they perceive your brand. The words you use with them, the tone you deliver it in, hell….even what you wear will be ‘on brand’. But, what about when you’re not there? These days nearly every customer will have researched your product/service before they arrive with you for purchase. It is absolutely essential that all of your customer touchpoints are in tune. Everything from the language your sales staff use to your website, packaging, brochures, social advertising, emails, uniforms etc. need to ooze your purpose and values. If all of these things aren’t aligned behind a crystal clear brand story, it’s almost impossible to remain consistent. And if you’re not consistent, distrust creeps into customers minds…sometimes with catastrophic results.
You could have the best, most qualified staff in your team of skydivers, but my guess is that if you don’t consistently look like the real deal, then you might struggle to get customers in the first place willing to trust you with their lives!