No matter how big or small your business might be, you are probably spending a great deal of time and energy thinking about how it is presented to the public. At some point in their existence, many businesses decide to invest in rebranding campaigns to enhance or reinvent their image, as keeping a brand current is vital to its longevity. However, before you dive in and make a total overhaul, you should first ask yourself these five questions to decide whether rebranding is even worth your business’ investment of time and money:
Is rebranding really necessary for your business?
Believe it or not, this basic question is one that is often overlooked by businesses during the rebranding process. Too often, businesses will launch a rebranding campaign just to do something, rather than taking the time to ask whether or not it’s even necessary. Many companies have already established brands that draw in the customer base that they set out to attract but simply feel that it is time for change.
Will rebranding turn off your old customers?
More often than not, business rebranding efforts are done with the goal of gaining more customers. This can be an excellent move, so long as you don’t alienate the customers that you already have. So be sure that you truly know and understand what your customer base wants before reinventing the very thing that keeps your business alive.
Can you build a story around your new image?
The good news about rebranding in this day and age is that it is easier than ever to build a story around a new brand thanks to the power of the Internet. Successful rebranding is about more than picking the right colors, logo or mascot; it’s about how you choose to tell your business’ story. You’ll want to build your social presence with blog posts, podcasts, videos and any other content that may help align your message with your new brand.
Are you overthinking your rebranding campaign?
While you may think it clever to meticulously analyze your competition, public and market when searching for a new sophisticated brand that will be easily recognized, the fact is, sometimes when you try to outsmart people, you just end up confusing them. For example, when choosing Campbell soup’s iconic red and white label, it was decided upon simply because they were the colors of the founder’s alma matter. It was a simple and easy decision that wasn’t based on studies and analytics.
Will rebranding make your business money?
Too often, marketing professionals get wrapped up in the minor details of campaign reinvention, rebranding and realignment, forgetting the whole point of launching such a drastic measure – to drive more business. If you find that at any point in your marketing campaign that branding efforts don’t aim to bring in more customers and revenue, then you need to rethink your tactics immediately. The last thing that you want is to scare customers off from spending and investing in your business.
Of course, businesses want to keep growing and bringing in more customers, but rebranding isn’t always the best solution. If you figure this out before investing great amounts of money and time reinventing your image, then you won’t dig yourself into a hole.
Interested in learning more about what it takes to build, revamp, and/or maintain a powerful brand? Contact a member of the Flair Interactive team to learn more!