4 Ways to Know When It's Time to Rebrand Your Business

Many entrepreneurs and business owners believe that a company's "brand" is simply the company's name and logo. That's not true, of course: A brand is more than just its underlying company's name and logo.

Yet, it's also true that that a name and business logo are key ambassadors for a brand, so it's important that both be strong.
Your company's own brand is the sum total of the experiences your customers and prospects have with your company. A good brand communicates what your company does and how it does it. A good brand also establishes trust and credibility with your prospects and customers. And because a brand evolves over time, many companies, including some of the most successful ones, rebrand.

You may have noticed recent rebrands by Dunkin' Donuts, Weight Watchers, Uber, Unilever and others. That's why it's worthwhile to look closely at why companies rebrand and what your own company should know to successfully rebrand your business. When should a company even consider rebranding? Here are ways you can know when the time is right.

Companies should rebrand to better differentiate from the competition.
If your company name is generic and similar to that of other businesses, you’re hurting your brand. A generic logo will similarly hurt your brand. A related problem occurs when you use stock art in your branding or marketing materials: You may be hurting your brand because everyone recognizes stock art when they see it; and those photos may turn up being used by your competitors.

This is where rebranding comes in: It can help your business stand out from your competitors' by showcasing the things that make your company different and better.

Even the best companies change their brand identity. For example, did you know that Google started with the name "Backrub" or that Accenture started out as "Andersen Consulting"? It's not unusual for a company to outgrow its name and look for a fresh, unique business name that can help grow its business. Maybe it's time that your company do the same.


Companies should rebrand to give new life to outdated branding. 

It's possible that your Comic Sans font, flash-based website or 1990s color palette is dragging your brand down and making your business look outdated. What are you going to do? The answer is "rebrand," something even the most successful businesses do, as seen from the various iterations of the Airbnb logo:

Smart companies rebrand because they know that good design can make or break a business, because they know they've outgrown their original mission. Maybe your business started off selling personalized t-shirts, but now you want to add customized coffee mugs. If your branding revolves around t-shirts, customers won't know that they can look to you for mugs, too.

This is a common problem,. and we always advise clients to make sure their business name is not too narrow or literal.


Companies should rebrand to outgrow their poor reputation.
Uber's recent brand overhaul was necessary to break ties with its bad reputation and visibly demonstrate a commitment to a new, improved culture. If your business is struggling to overcome a negative reputation, a rebrand can help consumers see you in a fresh new light.


Companies should rebrand when their business evolves.

Sometimes, a business gets the opportunity to expand or target a new market. When that happens, it's important to ensure that your new customers and prospects can connect with your brand. That's what happened with Pabst Blue Ribbon, a low-price U.S. beer popular with fraternities and hipsters. China’s version of PBR -- the stately sounding Pabst Blue Ribbon 1844 -- sells for $44 a bottle!

This happened because Pabst saw a chance to re-market itself to the Chinese craft beer market -- a market unaware of its budget reputation in the United States. By doing its homework, Pabst expanded into a new demographic and significantly grew its business.

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6 things your company needs to know to rebrand successfully

1. Start by understanding your mission and values. 
Before you rebrand, it's crucial that you clearly understand your company's mission and values. Consider and assess what makes your company special. Why does your company exist, and what values does it have that are essential?


2. Develop a rebranding strategy that works with your existing branding. 

Many companies don't have the luxury of starting from a clean slate. If you're doing a partial rebrand, make sure to take the existing brand assets into account. BrandExtract, a branding firm with over a century of experience, explained why consistent branding is important, saying:
A consistent brand helps increase the overall value of your company by reinforcing your position in the marketplace, attracting better quality customers with higher retention rates and raising the perceived value of your products or services …. In contrast, erratic,
inconsistent behavior quickly leads to confusion and mistrust.

3. Consider the market and your competition. 
Before you rebrand, do your due diligence. Research what your competition does. Determine how you stand apart from your competitors, and what your true value proposition is. It's vital that your new brand be fresh and relevant, but not so of-the-moment that it ends up looking dated too quickly.

4. Collaborate with your team. 
Your brand may be one of your most important company assets, but just as valuable are the people that help grow your business every day. Include voices from across your company: Some of the best ideas and most valuable feedback come from departments you might not expect.


5. Manage the rebrand carefully. 
A rebrand is often a complex and lengthy endeavor. Without a careful plan of attack and a well-managed process, the rebrand can quickly go off the rails. Set deadlines and mitigate going down those pesky rabbit holes with a well thought-out project plan.

6. Launch your rebrand and tell the world. 
Even the most incredible rebrand is wasted if you never actually launch it. Make sure you plan your rebrand launch and be prepared to explain why you rebranded. Minimize the risk of customer confusion through a carefully planned launch that showcases the story behind the rebrand.

A rebrand is a declaration of your company’s commitment to upward growth. Change is never easy, but sometimes, as the song goes, a change will do you good.

Source: www.entrepreneur.com
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8 Old-School Branding Techniques That Will Still Work for You Today

Everything seems so fast-paced these days: You go to bed one night and wake up the next morning to the announcement of an entirely new technology, or a breakthrough on a project that seemed far-fetched until, well, this moment.

If you personally have issues with the speed of change, imagine what companies contend with: To keep up and stay relevant, they have to adapt their branding, marketing and sales efforts at a pace at least as fast as that of the new techologies' debuts.

Gone are the Mad Men days of designing billboards and magazine ads (those jobs still get done, just in a different way and with different tools). In are the days of instant publishing. Despite the changes that the marketing industry has experienced, though, there are still some old-school branding and marketing strategies that work as effectively as before. Just because they seem old-fashioned doesn’t mean they’re out of date.

Here are eight aged but still workable branding and marketing strategies that are as effective in 2018 as they were back in the day.

Business cards. Business cards are less common now that text and email are so prevalent, but they’re still as effective as ever. Rather than simply telling someone what you do and asking them to email you if they’re interested, (though they may not remember your email address), a physical business card is more personal.

Business cards visually represent you and your brand -- they have your logo and contact information, which will visually stand out in your prospect’s mind. Moreover, not only do business cards stand out visually, but because you made a physical, personal connection, the next time that prospect needs your company’s type of services services, he or she will likely contact you first.

Snail mail. Who doesn’t love getting a personal letter? Unfortunately, nowadays, mail most of the time is just bills and advertising disguised as letters or important documents. You on the other hand don’t have to trick consumers into opening your mail, in order to have a successful snail mail campaign. Although impersonal ads are disappointing, coupons and discount notifications are not.

Public talks at events. Speaking at events is a great way to get your company’s name out to people already interested in your industry. You can search out events related to your vertical or let connections know that you’re interested in speaking; then prepare an address that is educational and meaningful and will make a lasting impression.

Think about the last time you attended an event about something you were interested in. Did any of the speakers stand out to you? Why? When you find a speaker to be impressive, take notes, then apply his or her techniques to the next time you have the opportunity to raise awareness about your company. Offer yourself to speak at an event.

Publishing testimonials. Testimonials are as effective today as they’ve ever been. Customers turn to online reviews and testimonials all the time before making online purchasing decisions or deciding which service provider they want to use.

So, asking existing clients for testimonials and then publishing their words on your website and printed marketing materials will help establish trust between your brand and your customers and potential customers.

Sponsorships for community events. One old school but great way to get your company’s name out there is your sponsorship of a community event. Whether it be a local high school football team or a charity walk to raise cancer awareness, an event that gets you involved in your community through your sponsorship will raise awareness of your company and the things you do. It makes for great PR as well.

Cold calls. The term “cold calls” has a negative connotation, but why? Perhaps the reason is that rejection is tough and some people just aren’t cut out for sales. Assigning one of those people to cold calling probably won’t result in much success. Others, though, do their best work when making cold calls.

So, if you're pursuing this strategy, you'll need a plan in place that includes a list of potential customers, a strategy and possibly a script. Once you feel confident in your pitch, call the customers on the list. Don’t be afraid to digress a little bit or indulge in a personal conversation, since it will warm your prospect up and keep the conversation friendly.

A branding redesign. If your brand has been around for some time, it may be time for are design. Although this can be a difficult undertaking, redesigning your brand, logo and the overall look of your company can get you a lot of attention. This is especially true if your branding is outdated. Old customers will enjoy a fresh new look while potential customers will get curious and pay more attention because, let’s face it, sometimes we do judge books by their covers.

Trade shows. Trade shows like CES are still as popular as ever. Whether you attend trade shows in your local area or travel to national and even global events, participating in and presenting at trade shows is a great way to increase brand recognition. Not only can you get your name out there, but you can show potential partners and customers your products, what they do and what else you have been working on.

Alhough these strategies may not be the newest ways to brand and market your business, they have been tried, tested and proven true. Which have you found to be the most effective for you and your business?

Source: https://www.entrepreneur.com

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Westchester Networking for Professionals (WNFP) is a business organization focused on providing our members and guests with an extraordinary networking experience, bringing business professionals together for the sole purpose of generating new relationships and developing new business opportunities. Not a member, learn how you can become a member and join this awesome group of professionals to connect and grow your business.

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5 Steps To Creating An Exceptional Small Business Brand

What do you want people to think of when they hear your company’s name? Of course you want a strong, positive impression to come to mind. But whatever they think of, good or bad, that is your brand.

Branding is vital to all businesses, but to the small business especially because branding is what enables you to stand out from the competition. After all, if you and the guy down the street are selling the same product, what is it that distinguishes your business? The answer is: Your brand. Your brand should communicate to potential customers why they should choose you.

…you need to make sure that your branding is conveying the promise that you think can best fill the needs of your desired customer…

Step 1: Customers choose you and your brand, for the most part, based upon your promise to them. Your job therefore is to think carefully about what your promise is:

Nike promises stylish products that will help you successfully get and stay in shape. Nike often uses big stars to promote its brand, backing up the success message. Nike’s slogan, “Just do it,” introduced back in the 1980s, has proven to be quite enduring. One thing that makes it great is its simplicity. This memorable tagline really does convey the corporate message.

So, what is your promise?

When your promise dovetails with the customer’s needs, they will choose you. Do you want a cool place to hangout and get a great cup of coffee? Then the promise of Starbucks is for you. But if you just want some quick, inexpensive coffee, then maybe driving through McDonald’s is a better fit.

So you need to make sure that your branding is conveying the promise that you think can best fill the needs of your desired customer.

Step 2: Focus on your unique value proposition. What is it that you do that is unique and special?

Say, for example, that you own an architectural firm that uses high-quality, eco-friendly materials. That then must be key to your branding. Of course, your green efforts need to be highlighted on your website, signs, logo, etc., but consider the message as part of the name of your business, such as Eco-Architects or Sustainability Architectural Partners.

Having your unique value proposition be part of the name will create instant branding.

Step 3: Craft a memorable tagline that reflects this message. Here at TheSelfEmployed, the tagline is, “Your gig just got easier.” That is the message we want to convey, and the promise we are making on this site.

Your tagline should be short and sweet. It should immediately let people know how they will benefit from your brand. You want something that will quickly cut to the core.

Step 4: If customers will be visiting a store or physical headquarters, make sure your branding is reflected throughout visual aspects at your location, such as your signage. Of course, printed materials and your online presence also need to showcase your brand through wording and design.

Step 5: Marketing is key. Your brand must be reflected in everything you do, from what you post on social media, to how the phone is answered, to how you treat customers. It all matters.

The way companies like Nike present and promote their brands is not accidental. You can bet that a great deal of thought, time and money was invested into precisely cultivating the intended imagery and messages. You may not be able to invest hundreds of thousands into your branding, but you can be just as precise.

It is up to you to figure out what makes you different and better. Focus on that, come up with a persuasive, compelling message, and then spread it in all you do.

Just do it.

Source: http://www.selfemployed.com
Photo Credit: tse-thestraussgroup.netdna-ssl.com

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