Rebrand your business
The aim of any rebranding exercise is to present your
business/products/services in a new and more positive light.
It can reinvigorate a business but it's an exercise that carries
high risks. This guide helps you decide what level of rebrand your
business might need and offers a checklist of issues to bear in
mind:
- What to consider before rebranding
- Evolution or revolution?
- What to bear in mind
1) What to consider before rebranding
The value of a brand can be reduced by new competition or by
changes in the market, so it's important that you revisit your
brand periodically to keep it fresh. Research is your friend here
and you need to investigate both your customers and their
perception of your business and the market situation. This will
help you judge how dramatic your rebranding task needs to be.
- Keep your brand fresh - review it regularly
- Research your customers' opinions
- Judge how dramatic your rebrand needs to be
2) Evolution or revolution?
Before you start any rebranding process, work out whether smaller
incremental changes will work best or if you need a complete brand
overhaul. If you're in a strong market position and have a solid
customer base then it's advisable to only make small changes. If
the number of customers is dropping and the market has changed
dramatically, look at more dramatic changes, as you may be losing
your competitive edge.
- Keep change subtle if you're in a strong market position
- Be more radical if you're losing custom
3) What to bear in mind
To be a success, brand changes need to be credible and easily
understood by the market and by customers. Don't
overcomplicate. Also, focus on creating clear differentiation
between you and your competition. Any changes need to be sensitive
to customers and employees, who have built up an emotional
attachment to your existing brand. Keep employees involved with
good internal communications and training sessions. Make sure
you have enough committed employees and infrastructure in place to
deliver on new brand promises.
- Keep it clear and simple
- Differentiate yourself from the competition
- Respect the emotional attachment your employees and customers
have to your existing brand
- Make sure you can deliver on brand promises
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