Before we start to talk about rebranding and what are reasons you might consider doing it - it is first important to understand what we mean by branding. If you ask 10 people what branding is, you will most likely get 10 different answers from our company logo, our company colours, our messaging, connecting to our target market. All of these are true, but are just components of your brand. Your brand is how you portray and differentiate yourself to your prospects and customers, so can include everything from your look, your messaging, your values, and anything related to how you portray yourself in the market.
There can be many reasons to consider rebranding of your business which could include:
Repositioning of your business
Stagnate growth of your business due to your target market not understanding your brand and messaging
Current brand is resonating with the wrong target market
Your brand is portraying the wrong image to your prospects and customers
Your business was purchased or you purchased another business and need to merge the Corporate branding
Want to a refresh of your business to make it more current
Rebranding of your business is not something that should be taken lightly. It is something that needs to be planned as it can be a very time consuming exercise. Before you think about rebranding of your business, you need to know why you are doing it and how you are going to roll out your new branding. This exercise is very near and dear to my heart as we went through this after a couple years in business. It is time consuming and you need to understand the costs as you need to redo all your online and offline marketing.
Why Branding is Important
Branding is how a potential customer perceives your brand and your business. Branding is one of the first things a prospect sees. Whether they go to your website and see your logo and other graphic elements or read your messaging, or they see your marketing materials at a tradeshow, or see an advertisement on or offline, they are making a determination about your business even before they call or contact you. Branding helps distinguish you from your competition and helps clarify why you should be chosen. Your brand represents who you are as a business and how you wish to be perceived.
Our Reasons For Rebranding Our target market was small businesses which is defined as any business under 100 employees. Our look and feel, our messaging, our content, and even our SEO we felt was targeting this demographic. What we found is that a business that is 15 employees and has been in business over 10 years, though they may only be less than 2M in sales does not call themselves