5 Reasons to Rebrand Your Business

 

Successful companies rebrand quite often. In fact, Dunkin Donuts, Energizer, Mastercard, and Android have received major attention in the last couple of years.

Business executives rebrand for a several reasons. It may be to introduce new products or services, change the company’s vision, seek to attract new talent, expand the targeted audience or enhance differentiation from the competition.

However, before deciding if it’s the right time to rebrand your business, there are some important questions to consider. For there’s more to it than simply changing the logo, design, or style. You need to ask yourself “What does my current brand say about my business?” “What message do we want to send with the new brand?” “How will the new brand differentiate us in the industry or marketplace?” “Is rebranding even necessary to achieve our goals?” “What are our goals?”

How to build a brand

Our Own Rebranding Journey

As many of you know, I started my web design business in 2016. My goal was to build WordPress websites for service businesses in my area. I was very content with this market. There were so many small businesses that needed websites built on an easy-to-manage content management system (CMS). My company name Creative Idea Web Design was perfect and well described my services. So, what changed?

For starters, clients began to ask for other digital marketing services that would pro-actively drive leads to their site. They also wanted us to assist in off-site search engine optimization (SEO) and build email marketing and social media campaigns. Since I didn’t offer these services, I searched for local partners to refer them to. But there seemed to be a gap in the market. Many marketing agencies were focused on large companies and were too expensive for my clients. Other agencies were hyper-focused on a particular industry and didn’t understand my clients’ marketing needs.

Clearly, there was a need for a digital marketing agency for small to mid-sized companies that needed a full digital package – website design and development, branding, inbound marketing, and inbound sales!

My partner, Deborah, and I asked ourselves all the questions above and ended up embarking on a rebranding adventure of our own! We felt it was the perfect time to rebrand our business, add new staff and bravely meet the multi-dimensional needs of our clients. Now we’ve changed our name, our vision, our services and expanded our target audience.

So, where should you start? Consider these five scenarios to see if rebranding makes sense for you.

You Need to Differentiate Yourself from the Competition

Differentiation is what sets you apart from other businesses in your industry. It begins with your ‘why,’ your story. Have you noticed how you are drawn to a company with a compelling story? We all love a great story that we can get behind and support.

Dove is a great example of a company that changed its brand story to increase differentiation from its competitors. Originally, in the 1950s, Dove’s story centered on being milder than other soaps because it contained face cream. Then, beginning in 2004, its story slowly started to evolve into one centered on “real beauty.” This focus on women’s self-esteem resonated deeply with its audience. In Dove’s new branding, beauty is not defined by shape, size, or color. Instead, its marketing demonstrated that Dove can make everyone feel beautiful. And using this messaging in all their advertising increased their sales dramatically over the last 15 years.

You Want to Introduce New Products and Services

If you’ve recently added a new product or service, you may want to consider changing your brand, logo and perhaps even your company name. We did just that.

As we began to offer inbound marketing, inbound sales, and services from HubSpot, we discovered that Creative Idea Web Design no longer described what we did. We didn’t just build websites. We also created unique data-driven strategies for 360-degree marketing campaigns. And more! So, our team met to discuss possible names, whether we should change our colors, and what our new logo would look like.

After a few iterations, we decided that “Creative Idea” was unique enough to keep in our brand. But what words captured all that we now do? Our new name, Creative Idea Digital Solutions, encompasses all that we offer as a full-service digital marketing agency.

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You Need to Make Your Brand More Contemporary

You may think your logo and brand are fine just the way they are. But what do your customers think? What about your staff?

The most successful companies tend to rebrand every five to eight years to breathe life into their business. This makes sense because styles change and perceptions do, too. NBC is just one example of a company that has rebranded many times over the years. From the peacock to colorful dots, the NBC brand has morphed with the times. Notice, however, that NBC did not change their brand identity. It is important to understand the difference. The logo style may have changed, but we still know that each logo represents NBC.

You Want to Attract Top Talent and Clients

Whether you’re looking to hire new talent or to develop a new target audience, it’s important to do your due diligence. Start with your competition. Discover what makes them unique in your marketplace and how you differ from them. Research job posting boards to see what companies are attracting top talent in your area. Research their brands and reputations and incorporate your findings in your brand strategy.

Remember that top talent draws top customers. If you can attract high level hires to your company then you have a better chance of breaking into a new marketplace or rising to the top of your current market.

You Want to Demonstrate that Your Company Has a New Vision

It’s not unusual for a company’s vision to evolve over the years. Do you have a written vision statement? If not, create one before you start the rebranding process. Also, review your mission statement and decide if both need to be updated. 

What Next?

No matter your reasons, rebranding your business may seem a little daunting at first. But we can assure you that with the right resources, it’s well worth the effort!

Our team can help you find answers to all your questions and plot a course for a successful rebranding experience. We’d be delighted to collaborate with you on a detailed brand strategy including well-researched buyer personas, an appropriate brand voice and imagery, colors and font styles to define and visualize your new brand. Because, if our own experience is any indication, we’re sure you’ll wish that you had rebranded sooner!

How to build a brand

 

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