Rebranding your business can, at first, sound like a costly endeavour that does nothing more than put a coat of paint on an already well-maintained house. However, many businesses are coming to realise just how powerful a marketing tool their brand can be and why it is so important to refresh how their business appears to the consumer.
WHY REBRAND?
You have a successful business and loyal customers who come to you over many other competitors. Your business has a good reputation in the community and name recognition. So why take the effort and financial burden of rebranding?
Rebranding your businesses isn’t just about avoiding embarrassment about your product (as Kentucky Fried Chicken did by rebranding as KFC in 1991). Nor is it just for businesses struggling to stay afloat (even though it certainly helped save Old Spice when they rebranded in 2010). Marketing and Business experts today believe that it is the healthy and successful company that often has the most to gain from rebranding themselves.
REBRAND TO SHOW HOW YOUR BUSINESS HAS CHANGED
Twenty years ago, ABC Plumbing received almost all its business from people with leaky faucets or clogged drains. However, over recent years they find themselves being contacted more and more by people who are renovating their kitchen or bathroom. This has been very beneficial financially, and they’d love more of this sort of work. After speaking to a marketing expert, they decide to rebrand as ABC Kitchen Specialists. While they do see a small drop in basic plumbing jobs, they have seen a three-fold increase in kitchen work, and have even started to partner with a carpentry company to offer full renovations.
REBRAND TO BETTER REACH YOUR MARKET
John Smith Accounting has seen a number of laws change over the years when it comes to business, investments and taxes, and by being on top of all the constant changes, have always been able to give his clients the best advice when it comes to their money. While he is maintaining his current clients, he has noticed a drop in new clients within his community. With the help of a graphic designer, he runs a number of advertisements in his local paper and sponsors the junior football team. The local community loves that he is a personal and friendly person, and soon becomes “the local accountant” recommended to all his neighbours.
REBRAND TO KEEP RELEVANT
XYZ Computing services has been working with technology since before Facebook, and have always kept up with the latest hardware and software, but they haven’t had time to look at their own brand, and their website doesn't look like a company that has kept up with the latest trends. They hire a graphic designer to establish modern brand guidelines and a copywriter to help them direct traffic to their new website through blogging about tech issues.
WHAT DOES REBRANDING ENTAIL?
Rebranding a company is a holistic process, which involves evaluating everything that currently represents your product and services. This can include your name, uniforms, letterheads, websites and marketing choice.
KNOW WHY YOU ARE REBRANDING
The first step in rebranding is to look at what your primary goals are:
Are you looking for new customers within your existing market?
Are you looking at attracting a new market?
Are you wanting to emphasise different products or services?
Are you wanting to brand yourself in a more contemporary way?
Are you wanting to celebrate a new change in your company?
How you answer these questions will make a large difference on the decisions made by both your own company and people you hire to help you through the rebranding process. This is also a good time to reflect on the strengths and weaknesses of your company in general, and many find they recognise new opportunities that have little to do with their brand.
KNOW WHAT YOU ARE WILLING TO DO
There are a lot of options for a company marketing themselves today, and it is good to think over some of them even before you speak to an expert. While these answers may change as you realise the costs, opportunities and long-term changes these ideas may bring, it is good to think about them straight away:
How did your original clients and customers find the business? What do they like about it? (Often, customer surveys can help in this regard).
Are you willing to change the name of the business? How much does the business name reflect the work?
What Social Media Marketing does the business have?
What budget does the rebranding have? What long-term costs are you willing to accept? How much time will you want to put in?
Do you have ideas already about possible paths to take?
FIND THE RIGHT HELP
Successful rebranding does not have to be an expensive process. While it is possible to do this yourself, for the best results it is always better to get an expert. Whether you are hiring a single freelancer who can work with you every step of the way, or a giant company that can take it all off your hands for you, you’ll find the investment is worth the good skills and knowledge these people bring.
A Graphic Designer
One of the few experts you cannot do without, a good graphic designer has their finger on the pulse of the market, and knows what designs have the most success in different industries and different markets. Colours, lines, fonts and other design elements all go in and out of fashion without most people ever noticing. A graphic designer knows these trends and how best to use them for your company. Intelligent graphic design leads to a brand that best reflects your business goals and values and provides a higher level of brand recognition. A graphic designer is often the first port of call when it comes to establishing strong brand guidelines.
A Web Developer
It is true that almost anyone today can make their own website, especially with wonderful tools like WordPress or Wix. Like the graphic designer, however, the web developer is aware of trends in websites and user accessibility. Discussing your plans with a web developer can also lead to discussions about e-commerce strategies you may consider in the future.
A Social Media Expert
Taking care of your own social media is not time-consuming and having a Twitter account or Facebook page is a cheap and effective way to market your new brand. However, there are pitfalls in working with Social Media and sometimes it is easier to have someone else handle it for you.
A Marketing and Personal Relations Company
The most expensive but sometimes most effective option, a marketing company has experts in all of the above areas as well as strategy consultants. The biggest appeal in using a company such as this is that they take most of the work from you, while you can save money by finding your own personal freelancers (that are often outsourced by the company anyway).
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