I recently took part in a #contenthour Twitter Chat hosted by Janet Murray all around the topic of “How important is branding in your business?” One of the key discussions was around the risks of not rebranding and why you should when it’s required. Could you be doing more danger not rebranding if you need to?
- What’s holding you back from rebranding?
- The negatives of not rebranding?
- The positive impact of rebranding?
Q5: What do you think are the potential consequences of not rebranding your business? #contenthour
— Janet Murray – #Inbound18 speaker (@jan_murray) August 6, 2018
What’s holding you back?
If you’re considering a rebrand there will usually be something that has prompted you. If you’re unsure whether it is the right time to rebrand your business, have a read of “When is the right time to rebrand?” which will help you understand where your brand is at the moment and the signs you should look out for.
I’ve had many conversations with business owners who are at the stage that they know they need to rebrand, but there is something holding them back from going ahead with the process. This could be for a number of reasons, a few of the most common I’ve covered below.
You’d be correct in thinking a rebrand isn’t something that happens overnight. You need to plan what needs to be done, how it’s going to be done and when. This is an important step. In larger businesses the rebrand could take months to roll out across all assets and touchpoints. It’s also worth considering at how the rebrand fits in with your business and marketing strategy too. There could be a perfect time for roll out.
All in all, if the process is planned out properly, then the time is well invested, and it will have a huge impact on how successful the project goes.
Hiring a branding expert to help you with a rebrand is highly recommended and this will come at a cost. You will however be paying them for their years of expertise and knowledge to create a perfect rebrand that reflects your business. They will ensure the final rebrand is rolled out correctly too across all your touchpoints, providing advice and insight along the way. It is an investment, but a very well chosen one which could have a huge impact on your business growth.
Lack of skills and understanding
These two I’ve put together as they both refer back to the two reasons above. Usually when people mention these they are either considering or trying to DIY a rebrand or they don’t understand about the process enough to invest. In this case I would highly recommend speaking to a branding expert and discussing with them how they can help and what is involved in the process. They will be able to answer your questions and worries, which will help you move onto the next stage.
The negatives of not rebranding?
So, you know you need to rebrand, but perhaps one of the reasons above or something else means you haven’t yet. There can be a negative impact if you don’t rebrand when it’s necessary. These could be due to the reason you needed to rebrand in first place but could potentially result in a more urgent need to rebrand.
- You could be sending out confusing messages to your audience or attracting the wrong audience
- A loss of potential new customer attraction and engagement with your brand
- Loss of current customers
- No or loss of loyalty with customers
The positive impact of rebranding
On the other hand, you’ve decided to find the time to plan, to invest and have found your branding expert to help you through the process. Great! A successful rebrand can result in many huge positive impacts. A few of which are below:
- Sales have grown due to targeting the correct audience with the right message
- You’re messaging is now correct which means there’s no longer any confusion or misleading communications
- You’re now targeting the right audience and building up your following
- Your brand awareness has built through brand consistency
- All your communication is now aligned with your brand values
- You have less of the wrong customer coming to you, resulting in more time and focus on the ideal buyers
If you do know you are in need in a rebrand I would recommend first speaking to a branding expert in order to help answer questions about the process, the investment, your needs and how to begin. The positives of rebranding show that the impact can be huge on your business growth and longevity. It’s an exciting journey to begin, but not one to jump into lightheartedly.
If you want to know more about the rebranding process or how to go about working with a designer to rebrand your own business, get in touch for a free #brandpowerhour consultation or book here.