Following small brands on social media, it can seem common that someone debuts a new logo or even just new colors on their feed with regularity. Having a fresh look can be invigorating for a business owner, but what effect does it have on potential clients?
The convenience of digital marketing leads some brands to believe nothing has to be permanent. Programs like Canva make it easy to switch up the look of your brand in just a few minutes. But is it a good idea? Your brand is your business’s identity, so making changes should be done so with caution.
What is Rebranding?
We’ve mentioned changing up your logo, but that’s just the surface of rebranding. Your brand is also what you promise to deliver to customers via your product or service. Altering your business’s purpose is a big commitment, and should only be undertaken after thorough market research.
Reasons to Rebrand
There are myriad reasons why a company might feel the need to rebrand. But which ones are worth the time and expense? Gravitate One is a Utah marketing firm that can help you decide if your reasons for rebranding carry enough weight.
Your business has evolved
This could be referring to different types of growth, but an evolving business may need to rebrand. Perhaps you’ve been using a name or a logo that is not culturally appropriate. Or, you may have bigger goals than when you started your business, so it’s time that your branding reflects that.
You need to reach a new audience
If you’ve added new products to your brand, your current client base may not be the only target anymore. Rebranding may help you reach new potential customers whose problems can be solved by your product.
Loss of brand identity
Is your current name, logo, or color palette too generic? Has your brand gotten lost among others with a similar purpose? If that’s the case, rebranding may help you stand out against the competition. Or, maybe your current identity doesn’t tell potential customers enough about you, so you’re overlooked for brands with stronger personalities.
Changing Your Business Strategy
Maybe your logo, your mission, and your products are perfection. You have brand recognition, but you’re not getting the employees and/or the sales you want. Maybe it’s time to revisit your business strategy and consider a pivot. What does that process entail? Ask yourself the following questions.
What are your goals?
Are your goals as a company the same as when you started? If not, your strategy for success should change. For example, let’s say you had the goal to hit $1,000 in sales in one quarter. Once you reached or exceeded that goal, does your business have the infrastructure to handle higher sale volumes? If not, it could be time to invest in software or more employees that can handle processing more sales.
How happy are your customers?
What are you currently doing to ensure customer satisfaction? What’s your policy on returns, or what warranties do you offer to back up your product or service? Making it easier for customers to resolve issues may involve changing your business strategy. Or, changes to policies may protect your company from excessive losses. For example. Retailer L.L. Bean used to offer a lifetime return policy. This meant the famous duck boats your great-grandpa purchased in 1911 when the store opened could be exchanged for a new pair after decades of use if the customer expressed dissatisfaction regarding the wear on the boots. Because this generous policy was regularly abused, L.L. Bean made the decision to switch to a one-year window for accepting returns.
How are your employees?
When considering the satisfaction of your employees, don’t forget about yourself! If you or your employees are dissatisfied with the work, it’s probably time to change how you run things. Whether it’s a new office space, working remotely, implementing more user-friendly and intuitive software, or simply finding ways to build community, explore ways to create a better working environment for your staff.
Are you keeping up with technology?
Does your business offer a user-friendly experience for customers? If you’re solely a brick-and-mortar business, you’re probably losing a lot of potential customers! Or, if your site performs great on computers but terribly on mobile, it’s time to rethink your strategy. A digital marketing company like Gravitate can ensure your business reaches customers no matter how they prefer to shop.
Are you making changes just for the sake of change?
Before you do anything to change your marketing or operation strategies, ask yourself if you’re doing it simply because you want a change. Remember the old adage, “if it ain’t broke, don’t fix it”! While change can revitalize your business or your employees, too much of it can derail your progress, or leave you with disgruntled customers and staff.
Whether you’re starting a digital marketing campaign from scratch or thinking of taking your brand in a new direction, it’s important to turn to experts in the field. If you have questions about how to create the right identity for your business, we’re here to help.
