When to Rebrand your Business?
Before we get in to ReBranding, let’s start by establishing what BRANDING is and what makes it different from Brand Identity.
Tuh-mato – Tamato you say! Nope, Not quite.
A BRAND refers to the face of your company which includes elements such as name, design, market research, setting target audience and marketing strategies. It is an Icon or logo or a set of colours that defines what your business is and who it should appeal to.
A BRAND IDENTITY on the other hand is the placement of all of the above on various different medias to create recall value, consistency and …An identity. So if you are a café and you have a logo (ie. a branding) that is not going to be as effective if you don’t have packaging, signage, a van with the branding to deliver etc. (ie. Brand Identity).
Both are pieces of the puzzle that create your position in the market and if any one of them is missing, your business is bound to suffer.
Now rebranding is a scary term for most business owners. Not only is it time consuming but depending on your business can be very expensive too! There are businesses that have been running for over 30 years that don’t want to change their branding because they feel that it’s their goodwill – But then these also are the businesses who are suffering with many new competitors coming in the market.
SO WHEN IS IT A GOOD TIME TO REBRAND YOURSELF?
You don’t have a brand identity.
God help us for the number of curly font “branding” we have seen lately!!
Think it’s expensive to hire a professional?..
Wait till you hire an amateur!!
Not investing in the branding for your business can cost you daily sales, lack of returning customers and getting lost in the crowd of many large scale businesses. If you are serious about what you are doing – you need to look the part. So if you acquired a business that doesn’t have a branding or you started off with no branding – then thats a good place to start thinking about rebranding!
You’re not getting any customers:
Now this is a true story – we have a client that has been in the FnB business from over 30 years. His restaurant is on the high street of a very sought after location and has won many awards and recognitions in the past. But lately the sales have dropped hugely. The food still rocks, the service is spot on, but guess what? – there never was and there still isn’t a branding. This didn’t matter 30 years ago, but two generations later with larger chains like Subway and Nando’s down the street, you’re toast!
Whatever your reasons might be, if there’s no one walking in – the first and most economical step you can take is to change the branding and make it so that it appeals your target audience.
Not targeting your audience
Speaking of target audience, do you have the right people coming in?
If you are a tattoo shop with pink logo and interiors, you might have ladies walking in for a pedicure. Just because you like pink doesn’t mean it suits your business. Rebrand yourself when you are not getting the right customer because chances are that your branding doesn’t speak for your business. It is important to understand the psychology of colour when branding so that you appeal in the right way to the right crowd.
You’ve expanded or diversified:
At any time in your business, if you expand or diversify your services or products, it’s worth reviewing your branding and making sure it still conveys what you’re trying to say. It’s a good idea to hold a forum amongst family and friends or current clients to see what they think.
These above logos are an example of rebranding due to diversification. Dunamatic Engineers is a 30 + year old air conditioning company which over the years has diversified into consultation and auditing. So they decided to rebrand themselves into something more subtle and appropriate for the new line of business. We maintained the colours and the over all look and feel of the brand yet changing its icon to better appeal for the right demographic. See both brand identities here> Dunamatic Engineers
You’ve outgrown your brand
As a young entrepreneur you started off an interior design company and now 10 years later you have a big office with 20 employees and top of the line clients. It’s time to give yourself some credit and make your business look like it’s been there!
Remember your good will is not just in the NAME or the SYMBOL you have, it’s in the service you provided your clients too. If you rebrand, it will not take your clients away, it will only excite them to work more with you because you are constantly enhancing their experience. Take them through the Rebranding process and ask them what they think. Include them in your journey – that way they are educated about your rebranding and will happily celebrate with you!
If you are looking to rebrand and would like to learn about what your options are, please feel free to send us an email and we can schedule a call. Alternatively have a look at our portfolio to see some of the branding work we have done.
We are offering a discounted price on rebranding for the month of June 2016, so if it’s been on your mind, now might be a good time to put to action.
Hope this article was of useful to you. If you have more things to add or would like to leave a feedback please do so by commenting below.
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