When you first start any business, you don’t know how anticipated clients and customers will respond to your new venture. Constant evaluation of what works and what does not should be part of your growth process.
In the beginning weeks and months of your business, you should have a solid idea if what you are doing is resonating with your targeted audience. But how do you know when you should refresh your brand or consider a totally new re-brand of your business?
First, what exactly does it mean to re-brand your brand or business?
Re-branding is the process of giving your product or services an external and internal mini makeover, as I like to call it! But it’s more than re-designing your logo or changing the theme on your website. It’s about re-evaluating your mission and using what you have learned in the past months to ensure that the mission you stand by is being represented throughout your entire brand. Re-branding means taking the time to sit back and look at your brand and your business and really think about if your brand is working for you.
How do you know if your business is ready to be re-branded?
If you are considering if you should re-brand your business, here are some important questions you should ask yourself:
1. What exactly is your mission?
2. Are your clients/customers able to comprehend your brand and message clearly?
3. Does your brand design represent your mission and vision?
4. Has your brand message, services or product line changed from when you first launched your business?
5. Does your brand reach your targeted audience?
6. Is your brand outdated?
How often should you re-brand?
If you spend time on your business and really implement ideas and thoughts that you know will be accepted well by potential customers and clients, you shouldn’t need to re-brand often. Listening to your clients needs are a huge part of maintaining a successful business. You re-brand your business when you are no longer getting the business you once used to. Re-branding comes with adding on or changing your services and products. If your business name is well received and you just have new products/services, you just need to change the marketing strategy to target that specific audience.
Your business is an on-going process. You will come across things that work and things that don’t work. Don’t be afraid to modify processes as you see fit. But be careful that you don’t lose the initial intent of your business. It helps to re-evaluate your business quarterly and ensure that you are meeting your goals. Customers remember brands and companies they see constantly. The more you change your brand or re-brand it, the less trust they have in you as a company as the changes in names dissolves into your competition.
What are my results after the re-brand?
After you have spent the time to re-brand, keep track of changes in your clientele or increase/decrease in sales. Document the changes you have made to see if they are a positive or a negative change. You could learn that what you had in place originally works better than your re-branded method. Monitoring your brand and its changes is important in order to avoid long term damage to your brand.
If you have a strong brand image and a clear mission, you should not have to re-brand yourself frequently. If you find yourself and your business transitioning into a different view, your brand should change to reflect this change. It’s simple – find what works for you and your business and keep at it.
I would love to hear about your re-branding process! It’s always exciting to see a business grow and the changes it goes through until success is at its peak!