Is Rebranding Essential?
Imagine a situation when you need to present your business without using words. You are asked to show your company to the world but you cannot say anything. Instead, branding will do it for you.
We have already discussed the importance of branding and we still proudly believe in the power behind it. Since your brand looks and speaks for your business, it needs to represent its values, premises and qualities. It is a visual representation of your company in the eyes of your customers. Probably the most common misconception assumes that branding simply refers to a logo. And maybe a short slogan. Doubtlessly, these elements are crucial but branding goes far beyond it. It includes every single symbol and action concerning your business, from your logo to social media presence. In summary, it is a tool that allows for creating the image you want your company to be associated with.
Great. But what if your current image does not fit your company’s profile? What if you send a wrong message to your customers and, therefore, risk a business opportunity?
Find out why and when you should think of rebranding your business.
1. Your company has grown.
The company has expanded over the years. Offering a broad portfolio of services is a truly impressive achievement but it also can lead to unwanted confusion. Let’s look at the example below. There is a company that emerged as a bicycle selling point. Their logo presents a funky bike. The company has grown and now sells tennis rackets and ski goggles. Can you notice this deceiving clutter? Following this (highly simplified!) example, you need to think of how to adjust the image of your company accordingly to its current profile. And it does not refer to your logo only but the entire branding. Reassess your current position, name your main business focus and begin the transition. Remember, clear goals and even clearer deliverables will make this process significantly easier.
2. The needs of your customers have changed.
There will be a situation where your customers can turn out to be the key driver for your rebranding. Since they are the receivers of what your business has to offer, your company has to evolve accordingly to their needs and expectations. Again, let’s think of the simplest example. Why selling apples if your customers want oranges? Both you and your customers take a painful shot since neither of your needs is met. They do not find what they are looking for and they leave. Then, you lose your precious clients. Yes, rebranding might not resolve your all business issues but it certainly will (re)direct your approach toward your goals. It is your chance to avoid misunderstanding of your business. Remember, your brand is not a package of superficial colours and symbols but rather all the experiences that your customers get. Make sure these are highly satisfying.
3. Your business stands out from competitors.
It is good to be different. And it is good to show others how different (slash better!) you are. Rebranding can serve as a reminder to those who already know you but it can also be an invitation to your new potential clients. It is a chance of showing what your company stands for, what your main focus is and in what ways you achieve your goals. If you are good at what you do, why not let others know about it? No, do not go and scream how amazing your company is. This kind of marketing does not work. Just be honest and real, if you really are amazing people will certainly notice it. In case you are still not convinced, check out these examples of incredibly successful rebranding that prove it right.
Great, we have gone through the key points of your rebranding strategy so it is time for a summary. We have pointed out certain scenarios that should inspire you to rebrand your company. But what could possibly happen if you do it wrong? What if you fall for a temptation of creating a fancy logo that, in theory, should solve all the problems and forget what this process really is about?
Let’s see what you are risking when deciding on a totally unplanned and purposeless rebranding strategy:
Simple as that. Without having a coherent plan and goals behind your decision of business rebranding, you just become another company trying to sell whatever they have. No leads guaranteed.
- Brand recognition
If you do not tell others your story, you will be a stranger in the eyes of your potential customers. Avoid confusion, disappointment and low retention by being open about who you are and what you do. Let others trust you and remember you.
- The right target audience
When you send a wrong signal to your customers, you will surely get wrong responses, too. In order to reach the right clientele, your branding message needs to be clear and cohesive, so your audience knows what to expect once they become your customers.
The moral of this story is as follows – do not count on luck and accident, count on your strengths and make the best out of what your company has to offer. In case you needed some inspirations, here are some examples of Think’s branding works. Bearing in mind that “the new” does not necessarily mean “the better”, we used the potential the companies have already had. We have simply emphasised the nature, vision and values of every each of them in order to make sure the branding sends the right message. Let us know if you struggle with rebranding your business, we will be happy to help you out.