There comes a time in every entrepreneur’s life when he/she is faced with a familiar question – “Does my business need a rebranding exercise?”
The answer to the above question is not simple. It requires a thorough understanding about what a brand represents. For example, a brand isn’t just your logo and the content present on the website. A brand represents a lot more – it is the core of your business and has 3 primary elements:
- Visual(the logo and other design elements associated with your business)
- Verbal (the messaging that is frequently used by marketers)
iii. Action (the way your business interacts with customers and employees)
What is rebranding?
Rebranding could mean any or both of the following:
- Complete revamp of a brand’s look and feel
- Updation of brand messaging to keep up with competitors
So, does your business need a dose of rebranding? We have compiled some questions below for you to think about before making a rebranding decision.
- “Has my target audience’s priorities changed?”
Here are some more questions to drive the point home:
- “Is your current brand messaging irrelevant?”
- “Has your target audience become more receptive to the marketing efforts of competitors?”
If a lot of customers are opting for competitors over you, it means that your business has failed to continuously capture their attention. It’s time to reinvent the messaging practices opted by your brand and gain the attention of customers once again!
- “Has my value proposition changed?”
As a business evolves, there is every chance the value proposition develops to offer more benefits to the customer. Have you highlighted how your value proposition has changed over the years? If your answer is no, it’s high time you did!
- “Does my messaging capture the right offerings and price points?”
Sometimes, businesses are not able to capture the true essence of their offerings. This is because marketers failed to properly gauge the offerings. They should sit with experts from within the company to ensure that each product is highlighted in the best way possible. Don’t hesitate to highlight each product’s messaging in a better manner!
- “Do my brand’s visual elements pale in comparison to what is owned by competition?”
Sometimes your logo and other visual elements may look jaded – this is a big turn-off and customers are likely to go with visually sophisticated competitors instead. Hire an experienced designer and opt for a revamp of your business’ visual elements.
- “Has the market changed?”
Is your messaging different and backward from what is prevalent in the market? If yes, it’s time to do a bit of soul-searching and come up with more updated messaging!
We hope these questions drive you in the right path towards rebranding! We have helped businesses with their rebranding efforts for close to 25 years – Contact us if you need any branding tips or giveaway ideas!