Jeff Bezos famously said, “your brand is what people say about you when you are not in the room.” When what people are saying is negative, then it may be time to rebrand your small business. Of course, there are signs that indicate a need for rebranding, and the decision should not be made in a subjective manner. This review is designed to help you make the difficult decision as to whether you should rebrand your small business or not.
Small Business Rebranding Explained
Small business rebranding is the process of changing the way others view your organization. This usually includes revamping your storefront, social media accounts, website, Google My Business listing, and other areas where consumers visually see your brand. Marketing techniques and strategies may also change as a result of rebranding as well.
The Benefits of Rebranding Your Small Business
Rebranding offers a way to revitalize your small business when it faces difficult times. Of course, a rebrand may be a good idea when business is going well also. Whatever the reason may be, here are some of the most notable advantages of rebranding your small business:
- Improve the way your brand is perceived both online and via word-of-mouth
- Establish more trust with your ideal customers
- Achieve more success with social media marketing efforts (i.e. LinkedIn marketing)
- Increase your return on investment with paid advertising campaigns
So, what are the potential drawbacks? Well, a rebrand is certainly a risk for a small business; there is always the possibility that the new branding is not as good as the former one. In this case, you could alienate a large portion of your existing customer base. Therefore, it is strongly recommended to work with rebranding professionals to ensure the proper steps are taken.
When You Should Rebrand Your Small Business
There are many reasons why a small business may need to rebrand. For instance, this may be necessary if the organization’s target audience changes. For example, your restaurant may make the switch from a traditional restaurant to an upscale lounge and bar, in which case your audience changes. A complete list of signs that indicate a need to rebrand your small business include:
- Your target audience changes
- You intend to raise your prices
- The brand does not reflect your vision
- You do not stand out from the competition
- The brand is overly complex
- Your brand is outdated
- You are undergoing a merger or acquisition
- You are changing (or adding) a location
- There is a negative perception of your brand
- You are not attracting top talent
Every organization should conduct regular internal brand assessments to determine the strength of its brand within its industry. Keep in mind, a rebrand does not necessarily mean a complete overhaul, and it could simply refer to small changes such as an updated logo and mission statement.
When You Should Not Rebrand Your Small Business
In simplest terms, you should not rebrand if your organization is meeting its business goals and is not changing or expanding toward a new audience. As discussed, a poorly executed rebrand can (and at times) does more harm than good. In some cases, expanding your goals may involve doubling down on your brand and making it bolder, rather than changing it entirely with rebranding services.
3 Tips for Rebranding Your Small Business
Every rebrand should be entirely personalized, ad there are no (effective) cookie-cutter strategies. However, with that said, these three tips work well for any small business rebranding project.
Research, Research, and More Research
Research is your best friend if you are considering rebranding services. A poorly researched rebranding effort can greatly hinder a small business. The research phase should include a review of these key brand components:
- Brand identity
- Brand image
- Brand culture
- Brand personality
You should have a clear idea of the problem you are fixing through your rebrand and (most importantly) how it will benefit your customers.
Focus on The Customer
Your customers should be the focus of your rebrand. Take time to learn about their pain points. For example, you may find that your company name and branding designs are ambiguous and send the wrong message to consumers. A rebrand could address this issue through a more telling business name and logo. Of course, this is just one example of many possible ways in which a rebrand could benefit the customer.
Analyze Your Competiton and Find Your USP
Your unique selling proposition (USP) is what sets you apart from other small businesses in your area and industry. Through detailed competitor analysis, you can learn more about what makes your organization unique. This should be used as the foundation of your rebranding efforts.
Contact Tunl Agency for More Rebranding Strategy and Advice
Tunl Agency offers rebranding services for small businesses in the hospitality and tourism industries. If your organization is considering rebranding, then contact us today. Our rebranding professionals can assist you in deciding the best path forward for your organization.