Branding is one of the most important aspects of any business, large or small, retail or B2B. Your brand is the message and promise your company sends to its customers. It tells them what they can expect from your products and services, while differentiating your offerings from your competitors. Your brand is derived from who you are, who you want to be, and who people perceive you to be. If you’re considering rebranding your business, there are many things you need to think about. Mainly, think about how rebranding will affect your customers, make sure you aren’t trying to fix what isn’t broken.
Branding is a strategy that is intended to strengthen, stimulate growth, and expand your business by giving you an edge in an increasingly competitive market. If you think your brand is not doing this for you, it’s time to rebrand.
Here are a few quick tips to keep in mind when thinking about rebranding.
Determine your current brand
In order to determine your company’s current identity you need to go back to the basics. Remind yourself of your business’s mission statement, is this still the mission of your business? If so, is your business, your employees, and your customers in line with this statement? It’s ok if your company has swayed away a little from its original objective, most time this comes from changes in the industry, however it is important to take notice of whether or not your mission statement is still working for you.
Think about how the market has changed since you first started your company, think about how your company has changed, and if there is a current brand that could better fit your business.
Decide what changes need to be made
The majority of the time the company knows they need to change, but may not know where to start. The first step is to make a list of what is working for you and what is not. Take a look at your competition and put yourself in the mindset of a consumer, what about your competition do you like? What about them do you not like? From there you can compare your evaluation to your own company, what matches up and what doesn’t.
While researching your competitors you should take notice of their social media accounts, their logo, and their website and compare it to yours. Building your social media presence is essential when trying to reach consumers, and gives both you and the consumer a platform to create a dialog. Conversing with your customers will help give you a better idea of what their expectations are and how to reach them.
Determine your audience
You might think you know who your target audience is, but after doing an analysis of their current brand many companies learn that their audience might be different from who they originally thought. Learning who your audience is will help you better target them. In addition, rebranding can also help you appeal to a new demographic, bringing in new customers and changing the overall vibe of your business to match the audience you want will help your company expand in the direction you desire.
Turn your employees into brand ambassadors
Make sure to involve your employees in the rebranding process. They should be well versed in your mission statement and should be familiar with your target consumers. Not only is it important for your employees to be knowledgeable about your new brand, but they should inhabit the practices and values you want to be representing. If this is something currently lacking in your business, rebranding will help get your employees more enthused and involved.
Live your new brand
You made it! You have identified your mission statement and analyzed what’s working and what isn’t, you have determined your audience and implemented your new brand into your employees. It is now time for you to live your new brand, this means show it off, put your logo everywhere, let people quickly identify you that way. Be available and accessible, now that you have made yourself known don’t go away! Make sure your customers can reach you easily. Be true to your brand, remember actions speak louder than words; now that you’ve said your reliable, be reliable. Lastly, be consistent, when making changes to your entire company you must commit to them, it is the only way your brand contains value.
Now that you know these quick tips on how to rebrand, its time to build your business.
Call Nicklaus Marketing & PR today and lets get started building your business together. 973.538.0450