A New Year, a new you?
Looking ahead into 2020: Focus on Re-branding
We’re in the season of New Year resolutions and programs which recap the year just gone. While we’re enjoying the Christmas break, it can be a great time to sit down and think about the business and the direction it’s heading in. One question which may arise is whether you need to rebrand? Is it worth the hassle? And how a strong brand can help you and your business grow?
‘A change is as good as rest.’
There are several reasons why a rebrand may be required; your company look is dated, not reflecting what you do, change in structure or management or need of improved information on your website for any new prospects.
It doesn’t mean stepping away from old values and beliefs but looking at them in a changing economy and having actual time to think if they are still relevant. Looking at the business and the market and seeing if they resonate with current audiences.
Did you know that 45% of your potential customers expect great design across marketing and sales collateral? (Lucidpress)
A rebrand is not just about changing your logo; it is about finding the right image for your business.
Have you changed the strategy or business model? Adding services or going through a merger?
These are the real reasons to review your brand, no point having a brand name or image which no longer represents your business.
If your business offer is confusing, then how can you expect your audience to buy from you when they don’t know what they are buying?
How much market share do you have? Has this begun to decrease? Do you want more?
When your competitors begin to improve their market presence, it can have a real effect on your business.
Increasing your market presence would mean a rebrand or launch of a new product or service, in which case it would allow you to refine your message, speak directly to your market and improve the response.
Using your competitors as a benchmark is all good as long as you’re out to do it bigger and better.
Adapt and change
Successful businesses change and adapt all the time, for example: did you know that Amazon changed their logo six times before they stuck with it! Sometimes it’s a journey before you find it, sometimes it is finding the right designers to do it and sometimes it is just business Evolution itself.
You can have a look at the Amazon brand evolved here.
Fine-tuning your brand is entirely acceptable, again reacting to the market is imperative to survive in a fast-paced economy. Not one brand is the same as it was, even the most significant organisations have tweaked and changed whether it an evolution or revolution approach.
There is a fear that change will alienate an existing customer base; if done correctly, this should have the opposite effect. What a great conversation starter to contact your previous or existing customers to say, ‘we’re updating our offer to serve you best’.
Benefits of a strong brand
A strong brand that represents your company values and speaks to your clients does have some great advantages. 77% of B2B marketing leaders said branding is critical for business growth (Circle Research).
The current market is so saturated with the same or similar products and services; it makes decision making twice as hard. The sheer volume of products and services out there can be debilitating; therefore, it is vital to differentiate yourself.
Think about what makes your business different and concentrate on that one aspect. If you are at the centre of your business, then why not make your traits bespoke to your brand’s core values. A strong brand will also allow you to present yourself as an expert in your field; it will get you noticed; it will empower customer loyalty too. As a result, a strong brand will give your business heaps of confidence and will help with attracting new clients also. It is like buying a new suit for your business.
If you are thinking of improving your brand, but you are not quite sure where to start or how to progress, we offer a brand workshop. It can be carried out as 1 to 1 of a few hours’ of consultancy. It could be a group involvement where decision-makers have time to discuss the fact of changing and improving their brand.
The workshop becomes a great time where you stop for a moment, think about your business as it is and where you want to take it, where you want to be and what this new brand needs to reflect your business in the future.
We will also ask some hard questions that you may not have the answers to, but they will make you think about the challenges you are facing.
The market, economy, the world is always changing, so we must change and adapt too.