Rebranding is about more than changing up your company logo. It’s about having a consistent brand identity that’s easily identifiable by consumers. It’s that consistency that can lead to additional revenue, simply because consumers will begin to associate it with products or services they like, and in today’s incredibly competitive online environment, it’s more important than ever to have a branding strategy that helps you stand out from your competitors.
We know that most executives and business owners are increasingly concerned about their return on investment of every activity. Marketers know that they will have to justify their activities, and that includes their efforts to build the brand of the company. So, if you’re a business leader, it stands to reason that you’re going to want to know what you’re going to get from a rebranding campaign. To start, we’re going to have to take a look at what rebranding is not…
What rebranding is not
Although rebranding involves a lot of individual activities, if some of these are done on their own, without an effective branding strategy in place, it’s unlikely that you’re going to see an increase in sales. Firstly, rebranding is not about changing the logo – it’s highly unlikely that a consumer is going to convert just because you’ve updated your logo. It’s also not about changing the company name, either – in actual fact, that could end up harming your sales, depending on how strong your brand currently is. Lastly, it’s not about creating a tagline that sums up your USPs. Although these can be helpful as part of a wider branding effort, creating a tagline is not something that’s going to drive sales in the right direction on its own.
When can rebranding increase sales?
Rebranding is about creating the right message and getting it delivered effectively to your audience. If you’re continuously delivering the right message to an engaged audience, you stand a much better chance of having a successful rebrand. Your ultimate aim with a rebrand should be to increase awareness of your brand amongst your target market. It helps if you already know who your key buyers are, but data that you may already have can help you identify who they are if you don’t.
Once you know your audience, a successful rebrand will find a message that will make your product or service stand out from the competition. Not only does it have to stand out in the minds of the consumers, but your message also has to ensure that your products or services are the ones they prefer. It’s all about finding out why people are currently coming to your business, and then shaping your message around the idea that if they come to you, they will get the best product or service available.
A strong brand will take time to build, it won’t happen overnight, but with an effective rebranding strategy, there’s a good chance that your brand will go from strength to strength. Once your customers purchase your service, the experience they have will determine whether or not they buy from you again. If they prefer your experience to your competitors, you are instantly increasing your brand’s value.
Rebranding doesn’t have to be just for large corporations. A good rebranding strategy can help all types of businesses build their customer loyalty, which in turn helps them increase their market share by effectively penetrating their market.
If you’re thinking it’s time for a rebrand within your company, now could be the perfect time to act in order to gain an advantage over your competitors. We’ve helped numerous businesses in the area create a strong brand presence which has seen their sales increase, and we can do the same for you. So, if you want to see just how effective a rebrand could be, please don’t hesitate to get in touch.