Is your company feeling dated and irrelevant? Is your customer base dwindling? Rebranding may be the answer to your problems, but only if it is done correctly. Avoiding these five common pitfalls will help your business stay ahead of the competition even when going through this trying branding process.
Clinging to the Past. One of the main points of rebranding is to make your business more relevant than ever and position you to be more attractive to your target customers. While company history can be an important part of branding, hanging on to aspects that aren’t working will also drag you and your company down. If your old brand hasn’t been working, it is merely dead weight.
Alienating Current Customers. If you have an established customer base, rebranding may be a more tenuous process. This is because you will need to work to retain customers and get them to buy into your new brand with the same fervor that they felt for your old image. At the very least, send out a notice to new customers letting them know that your company is undergoing a branding overhaul and present your new brand as having an even higher value.
Hiring Amateurs. Your brand is possibly the most important aspect of your business, so don’t hand this off to an on staff project manager or another employee who lacks solid experience in branding and marketing. The same way you wouldn’t buy substandard goods or hire rude staff, you must have exacting standards when it comes to hiring consultants. No business can afford to mess up this very important aspect, so hire someone who has experience in creating, fine tuning, and marketing a brand. Then, listen to them and follow their recommendations to the letter.
Focusing on the Wrong Aspects. Branding is not just about choosing fonts and looking over revised logo-although those are definitely important parts of every brand. What’s more important is creating a pleasant and cohesive customer experience that will appeal to your target market. Take the time to cruise your website, and have friends and family visit your physical locations and report back on their experiences. With branding, the little things add up.
Underestimating Your Company. There are several ways that a company can make this fatal error. First, you may underestimate your brand equity by assuming that your existing brand has no value. In fact, many business owners vastly underestimate the power of their current brand, thinking that they need a complete overhaul when in fact a little refining or touching up is the best decision. A good branding consultant should be able to tell you how much rebranding is in order. Another key underestimation is thinking that your company is too small to rebrand. No company is too small for rebranding, or the success that is sure to follow.
As you can see, a branding consultant with experience and knowledge can be a real advantage when it comes to rebranding your business. By avoiding these five rebranding mistakes, you can make sure your new brand is perfect you for you, perfect for your business, and perfect for your customer base.