It’s sadly time to pack away Christmas decorations and as wewave goodbye to the last mince pie, many are thinking about their new year’sresolutions. At Creative Pod, we’ve been thinking about how brands can seizethe new year, with a rebrand.
Consumer behaviour is moving quicker than ever before and theneed to stay current, on trend and desirable to your target audience isessential. Therefore, ensuring your brand is projecting the right image, to theright audience is paramount.
So, what are the benefits of a rebrand? And what should youconsider before rebranding?
First off, let’s start with what you should consider beforerebranding:
1) What is your company objective/goal?
2) Who is your target audience?
3) Is your target audience your existing clientbase or are you trying to attract new customers?
4) Will a rebrand turn off your existing customers?
5) Do you have the time to do this yourself, orshould you hire outside expertise?
So, what are the benefits or a rebrand? Well….
1) Helping you to stay current:
As we mentioned previously,staying current and on trend is essential. Becoming outdated is something toavoid at all costs. So, for example, if you’re changing direction, or yourcompany mission has changed, it is paramount your brand reflects this and is inline with current trends. Your brand plays a major way in how potentialcustomers perceive you, by being proactive in rebranding, you can ensure yourbrand projects the same image, of a proactive and savvy company.
2) Reflect new goals, products, offers or values:
Ifyou’ve launched a new product, it is important that your brand adapts toreflect this (because, how else will people really know?). Many people considera rebrand when they ‘feel it is time for a change’, whereas really, if it isdone strategically and proactively, it should reflect the evolution of yourbrand and your products and services.
3) You need to connect with a new audience:
As mentioned previously, your brand is how your customers perceive you asa company. So, if for example, the needs of your customers have changed, or youare looking to target a new audience, you need to think, does your brandproject the right image? Failing to do this is one of the easiest ways tobecome outdated. One of the biggest advantages of a rebrand is the ability to reacha new audience because if people can see you are promoting new aspects of yourbusiness, people will stand up and take note.
4) Set yourself apart from your competitors:
If you’re in a crowded market, oryou’ve recently grown and you’re now beginning to compete with the big players,a rebrand is one of the most successful ways to set your company apart. In acrowded market, brand differentiation is essential. Rebranding highlights topotential customers why you’re different and what is unique about you. After all,even if you are more expensive than some of your competitors, it is your brandperception that sets you apart and can help you clinch the deal, regardless ofprice.
5) Increase your revenue:
All of the above works together to help reachnew customers, stand apart from your competitors, and highlight the uniqueselling points of your business. This, in turn, helps to drive new enquiriesand eventually new business, which of course means increased revenue!
