If you’ve been in business for a while, you may have given some thought to rebranding. However, you may not have thought much about the benefits of rebranding your business. Read on to learn some of the powerful results you can expect from a rebrand.
A while back I did a podcast episode outlining why you might be ready for a rebrand. Here are a few of the reasons you might be considering rebranding that I mentioned in that episode:
- Your logo is outdated
- Your website is outdated or it’s no longer working for you
- You’re offering something different in the way of products or services
- You want to reach a new target market
- You’re not different enough from your competition
- Your business has evolved
Whatever the reasons to go through the rebranding process, there are some very powerful benefits that you can achieve if you do it right.
And by doing it right I mean you should probably work with a branding expert. It’s difficult to do this kind of work by yourself, you really need that outsider’s perspective of your business. An expert will guide you through the rebranding process and keep you pointed in the right direction.
The process doesn’t have to be painful, lengthy, or even expensive. I’ve helped scores of small business owners create beautiful, effective new brands; it only takes a few weeks and it won’t break your budget. Let’s talk about it.
The benefits of rebranding should more than pay for the cost of working with a branding consultant.
The Powerful Benefits of Rebranding Your Business
Rebranding creates consistency
One of the benefits of rebranding is creating an overall more consistent look and feel for your brand. Whether it’s consistency in your marketing messages or across your social media profiles, when people see a more unified look and hear the same messages, your brand becomes more easily ingrained into their memory banks.
Your brand will be the one they remember the next time they’re in need of a product or service like yours.
Some areas to consider when creating brand consistency:
- Marketing materials. Consistency in your marketing materials includes things like business cards, your website, brochures, product packaging, direct mailings.
- Marketing messages. A consistent message is a powerful thing! Be sure your messaging is consistent across all of your platforms.
- Social media. Rebranding is a great time to build more consistency in your social media profiles, posts, and ad campaigns.
- Brand personality. Make sure your rebranding project includes creating a consistent look, feel, and tone of voice for your brand.
Rebranding breathes new life into your business
Over time, your brand can start to feel outdated and a little boring. You might have the same logo, website, and business cards since you first started your business. You may be using the same stock images, the same marketing messages, and it’s all starting to feel a little ‘blah’.
Rebranding can breathe new life into your business by giving you a whole new look and feel.
Something as simple as updating your logo and website can get you excited about your business again. When you’re excited about your business, it shows.
Your customers will see it and they’ll feel it. They’ll be more likely to engage with your brand. They’ll want to learn more, they’ll feel more connected to you and your brand.
Rebranding doesn’t mean you need to change your logo every year. I actually wouldn’t recommend this. But you could revisit your foundational brand-building work and make the changes needed to get consistency.
Start by updating the images on your website and clarify your marketing messages. Suddenly everything will feel fresh, new, and exciting again.
Rebranding makes you stand out from your competition
There’s a lot more to the process of rebranding that getting a new logo designed. Another one of the benefits of rebranding is it’s the perfect time to find ways to differentiate yourself from your competitors.
It’s probably been a while since you did any kind of competitive analysis for your business. This is where you do a little research on your competition to discover their strengths and weaknesses so you can identify opportunities to differentiate.
Researching your competition should be a key component of every rebranding project. Maybe your competition has changed since you first started your business. What new opportunities can you identify? What can you do better today? What new gaps can you fill?
Rebranding is the perfect time for you to take another look at your competition and find new and better ways of standing out.
Rebranding helps you reach a new (and better) target market
Another one of the powerful benefits of rebranding is being able to reach and serve a new target market.
The work of rebranding should include a detailed in-depth look at your ideal client or customer and the target market your business is currently serving.
Again, it’s probably been a long time since you put much thought into your target market, but you may find this part of your rebranding particularly eye-opening.
When you go through the process of rebranding, spend some quality time figuring out if your current target market is working for you or not.
For example, you may be currently serving a market and you’re suddenly realizing that it’s just too big. This is typically what most small businesses do, they choose too broad of a target market.
A better idea is to find the perfect MVM – Minimum Viable Market to serve. This is the smallest group of people that you can serve exceptionally well. This is an audience where you are the only game in town.
Rebranding will help you get laser-focused on the right target market to serve, which leads to deeper connections, more engagement, and more of the right people taking action.
Rebranding allows you to charge more for your products and services
One of the not-so-common benefits of rebranding is the ability for you to start charging more for your products and services.
Your rebranding should also include a repositioning of your brand in the market. This just means that you are creating your own place in the market. You’re essentially separating your business from everyone else doing something similar.
This is the perfect time to increase your prices.
If you do a good job of rebranding, of finding the right target market and then setting yourself apart from the competition, you should be able to charge whatever you want.
Rebranding means your brand is more consistent, it’s more exciting, you’ll be seen as different, and you’ll be connecting with the right audience. These are huge advantages for you and your business. You’ll start to be seen as the better choice, and then you can definitely charge more for what you do.
Rebranding helps grow your business
The idea behind rebranding your business is not just to give your brand a facelift or to get you excited about your business again.
The goal of rebranding is to grow your business.
When you take the time to go through the entire rebranding process you should start to see an uptick in sales.
All of the benefits of rebranding I’ve mentioned above – creating consistency, breathing new life into your business, standing out from your competition, connecting with a better target market, even charging more for what you do – all of these results lead to more sales and more growth.
Rebranding is a very powerful exercise to go through for any type of business. Take the time to go through this process every few years and you’ll see your business consistently grow.
Have I missed anything? Have you ever gone through a rebranding? What results have you experienced? If you’re ready for a rebrand we can do it together!