When Rebranding your Company Might Be a Good Idea
Your company’s brand is a critical aspect of any and all of your marketing efforts. No matter what medium you are marketing in, and no matter what point in their journey a potential buyer may happen to be, your brand and message has to be consistent to everything you are producing. After all, your marketing establishes a personality of sorts that your audience will begin to associate with your company.
Just as the personalities of people tend to change over time, there will come a time that your branding no longer fits your company. Perhaps the framework behind your branding has become outdated or no longer serves as an accurate portrayal of your company and its culture. Maybe your audience has changed, or changed their priorities, or even their sensibilities - whatever the cause, your current branding simply isn’t achieving the level of engagement you need it to. If this is an accurate depiction of your current situation, you should strongly consider implementing a rebranding strategy to rejuvenate the outwards perception of your business to your desired audience.
While a properly timed and implemented rebrand campaign can be very effective in resuming engagement with an estranged audience--or even in attracting a new one--it is a relatively comprehensive process that allows no half-measures. In addition to the new branding that a rebrand inherently requires, it also requires all of your materials and resources to be reproduced to match the new branding as well. Finally, you will need to implement the entire rebrand all at once (for the sake of marketing consistency) and launch a campaign to introduce this new iteration of your company.
However, if these considerations are less intimidating than the prospect of what may happen without implementing a brand change, then you have a pretty good sign that a rebrand is a good direction to take despite the upfront costs. This is not to say, of course, that costs should be ignored entirely during a rebranding process.
Making Some Brief Calculations
Instead, evaluating these costs and constructing a budget can assist you in accounting for the final total of your marketing revamp, informing you of the most cost-efficient avenues to take, which in turn can help you determine the direction to take your rebrand. Is it more economically efficient to shift from “x” brand to ”y” brand than from “x” brand to “z” brand? Will selecting “y” potentially bring in a comparable level of traffic to your site as “z” would, or will “y” bring fewer visitors than the other option for your new brand? These are all preparations that must be made if and when a rebrand is taken into consideration, as it will ultimately have a significant effect on your budget in the short term, as well as your ability to receive a return on your investment in the long term.
While this process seems much more involved and work intensive than many would likely consider a rebrand should be, the benefits to be enjoyed after a rebrand has been successfully carried out and adopted are considerable. On top of the refreshing effect to your marketing that a rebrand can have in regard to public impressions and its ability to attract a new audience of potential customers, it can very possibly have a unifying effect to your company, giving your employees a fresh new objective to reach.
If you have questions about implementing a rebrand, or any other marketing concern, reach out to the professionals at JoomConnect. Go to http://jmct.io/letstalk and let us know what we can do to help.