Do you have a business that is not living up to its potential? Do you have a small business that needs expansion? Do you have a business that has suffered a dent to its reputation or an economic meltdown? Then, you have a business ripe for re-branding.
Rebranding generally involves changing, recreating or altering the things that have formed the image of your company.
The world is moving forward and evolving. Look around you and into the history of brands from long ago who are still relevant today, so much has changed about them. Some of them are not even recognizable compared to their old images. These companies understand the importance of keeping step with the ever-changing world.
Growth is key. Your business may have started out as a small or medium scale enterprise. You may be able to build on the solid brand that you have created. However, if upon careful observation, you see that your current branding efforts would only be able to reach a small market, then it is time for you to rebrand. Similarly, the fact that you are a big business is also no excuse to plateau and rest your efforts. Big businesses lose relevance when they stop thinking of new ways to expand and remain relevant to their world.
You may have a market that is being overcrowded with competition. What makes any business a success is that it gives the market something that the others don’t or cannot. When your niche is being crowded, rebranding may be necessary to carve a new one for yourself.
When you have suffered an image-damaging event or your business has experienced a period of financial failure you may need to change your whole outlook. Generally, human psychology does not permit potential clients to be willing to interact with failure. However when everything is all new, compelling and attractive the failure will quickly be forgotten. Also, where the problem is a financial meltdown, the rebranding may be a change in tactic to avoid the practices that resulted in the failure.
Rebranding is great but only when it is done right.
When considering rebranding your business, you must look into the story of your company. Why did you start the business? What are the core values of your business? You need to keep these answers in front of you. If a Hair company starts to advertise food. That is not rebranding, that is a new venture. However if the company’s core value was beauty and you see that so much of the world is into hair and makeup, expanding your business to make it hair and makeup, tweaking your logo, changing advertising focus would work to appeal to a whole new potential market. That is re-branding.
You must be definite about why you are rebranding. This is so that you can focus all your efforts in the right direction. This is so that you don’t pile too much into your branding efforts and confuse your potential market or lose them entirely. If, for example, you want to give your business a facelift and make it more modern, what you need may be a new more sophisticated logo, new business cards, new business souvenirs, more refined website, new and improved e-commerce efforts etc. If is to separate yourself from a past failure, this is where a whole revamping process is necessary.
Finally, you must be attentive to the result your re-branding efforts are producing. Make sure they are well received and at least not counterproductive. If this is not the case, you may have to revert back or consider a new direction.
Rebranding is good and will be necessary at one point or the other in every business. Don’t be afraid to take risks. Step out and hold fast to your company’s relevance in this fast-paced world.
The place of stationery cannot be understated in rebranding. You may need to alter or change your company logo, the look of your business cards and other memorabilia. A good printing company with expert designers to properly interpret your brand aspirations would be invaluable.