Your branding is a very critical part of your business image, the same way your appearance is a critical part of your personal image. Rebranding is becoming a very big part of the online marketing process, and entrepreneurs are rebranding themselves for all sorts of reasons.
But does rebranding really make a big difference? Sometimes it can. If your business is having serious problems with customer perception, then changing its image might help to clear up some of those problems.
If your business had a branding problem from the beginning, it can also help. Just remember, if you dramatically alter your current branding, you might lose some of your current customers.
For example, if you’re currently branded as a marketer who caters to newbies with a limited budget, and you raise your prices in order to appeal to advanced marketers with a bigger wallet, then you may lose a lot of that original customer base who came to you for your low prices.
This is one reason why it is vital that you make sure it’s really your branding that needs to be changed, rather than some other key component. Rather than change your branding entirely, you might consider just modifying it.
Bring your logo up to date. Change a few minor elements such as the colors you use or the fonts you write in, but try keeping the overall theme. This can help you keep your current customers, as well as hopefully attracting new ones.
If your logo was poorly designed while your company was young, or your website was put together for $50 by your second cousin’s eighth grade son, you might just need a bit of a redesign to your current theme.
Now, If you are trying to take your company in an entirely new direction, then you might want to consider a more drastic makeover. If you are launching a major product line, or you have decided to move into a very different segment of your market, then rebranding might make sense in order to better appeal to your new target audience.
When you set out to rebrand your company, you should do thorough market research to find out what appeals to your new target audience. Have everything rebranded at one time so it all matches well.
This should include everything from your logo to your website to your packaging. Even brochures and business cards should be redesigned. Don’t forget your signs and your telephone book ad – whatever you are using to promote your business.
You might even decide to change your business name. If you do, choose something that is allencompassing. It might be tempting to take the name of your company’s flagship product, but that can be extremely limiting. You might want to expand to offer new types of products or services later, and you don’t want to limit yourself by naming the company after something specific.
If you are currently selling pet care eBooks, you might not want to call yourself Pet Publishers, Inc., especially if you have future plans to branch out and sell other tangible pet products. Or, if you wanted to expand to offer gardening books later, this could be problematic.
Whatever you do, make sure you do enough research to determine whether this change could be a good thing for your company. Not everyone can benefit from rebranding. You need to do thorough research to determine what problems your company is facing, and whether or not they have anything to do with your branding. In case your research shows that your customers currently respond well to your branding, then you might look at other reasons why your company is experiencing difficulties, rather than hastily deciding to rebrand in a panicked state.