Rebranding: Could It Be Beneficial For Your Business?

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Rebranding: Could It Be Beneficial For Your Business?

Rebranding

As an entrepreneur, you know the benefit in sticking with what you know will work. At some point, however, even the best ideas and clever branding schemes can wear thin and wear out, meaning you are no longer reaching potential new customers and clients. When your current branding is no longer effective or you believe it is time to try something new for the sake of recreating your image, an entire rebranding effort may be beneficial.

A brand is about much more than a logo — it includes the logo used for your company, but also pertains to everything else that communicates to the customer about the personality, tone and culture of your business. Strong branding carries over to everything from your company letterhead to how your company interacts with people on social media. It’s crucial that branding be visually appealing and consistent in the tone it sends about your business. If it is time to rebrand, the following questions can help you narrow your focus and choose the approach that will work best:

  • What problems am I hoping to solve by rebranding?
  • What story am I hoping to tell by rebranding?
  • Who are we trying to reach and attract?
  • How can we connect meaning and importance to our new branding?

Many major companies that have rebranded unsuccessfully have learned that it is crucial to be thoughtful and careful when taking this step. In some cases, a company has had to backtrack from its campaign and revert back to the old branding, and it can take a long time for customers and clients to move past it.

Rebranding is a big step. If your customers are changing, your business has changed significantly or fierce competition has necessitated the move, rebranding, if done the right way, can boost sales and garner the attention of potential clients. In fact, it is such a big decision that many companies invest in extensive research and development before launching a rebrand. Before you make the choice to move forward with this, take the time to carefully weigh the benefits and drawbacks of presenting a new “face” to your company.

By Meagan Kerlin for Vertu Marketing LLC