welcome to 2018! know what that means? new year, new brand!
Sadly, it’s time to pack away Christmas decorations and Minecraft ornaments as we wave a sweet goodbye to the last mince pie, many are thinking about their new year’s resolutions and “New Year, New Me!” posts on Instagram with silly emojis instead of a New Year, New Brand! post. At Stealth Media Marketing, we’ve been thinking about how brands can seize the new year, with a rebrand.
Consumer behavior is changing quicker than ever before and the need to stay current, on trend and desirable to your target demographic/audience is essential.
So how can you benefit from a rebrand? And what are the factors you should consider before rebranding?
First off, let’s start with the basics:
- What is your company’s objective/goal?
- Who is your target audience?
- Is your target audience your already existing client base or are you trying to attract new customers?
- Will a rebrand scare away your existing customers?
- Do you have the time and resources to do it yourself, or should you hire a third party? (Like us!)
So what are the benefits of a rebrand? Well…
1. Staying Current:
As mentioned previously, it is imperative that your brand stays current in this ever-changing era. Becoming outdates is something to avoid at all times, or it will mean the death of your brand. For example, if you’re changing your target audience, or your company mission has changed, it is necessary that your brand reflects this and is following with current trends, while staying original and unique. Your brand is how your current and future customers will perceive you, so be sure you are taking your brand seriously. By being proactive in branding, you can work to ensure your brand projects a certain image, of a proactive and savvy company of in the modern era.
2. Reflect new products, offers, values:
If you’ve launched a new product or service, it is important that your brand adapts to this change (How else will people know if you don’t show them?). Many people consider a rebrand when they ‘feel it is time for a change’, whereas really, it should reflect the evolution of your brand and the products and services that you offer to your target audience.
3. Connect with your same/new target audience differently:
As mentioned above, your brand is how your customers will perceive you as a company. For example, if you’re looking to target a new audience, or the needs want wants of your customers have changed, you need to ask yourself, does your brand project that image to your customers? Failing to do this is one of the easiest and quickest ways to become outdated and irrelevant. One of the biggest advantages of a rebrand is the ability to reach an entirely new and different audience because if people can see you are promoting new aspects of your business, people will stand up and take you seriously.
4. Stand out from the rest of the crowd:
If you’re in a crowded market, (Which honestly, who isn’t in 2018?) or your brand has recently grown and you’re now beginning to compete with the bigger, well-known players, a rebrand is one of the best ways to set your company apart from your competitors. In a crowded market, brand differentiation is key. Rebranding highlights to potential customers why you are different and what is unique about your business, and why they should purchase your product or service instead of the other guy’s. Even if your products or services are more expensive than those of your competitors, the way you brand and market yourself will change the way your target audience will perceive you and make your customers want to buy from you, regardless of the price.
5. Increase in revenue:
All of the above is all fine and dandy but together, it will help you reach new customers, make you stand out from your competitors, and highlight unique selling points of your brand. This, in turn, helps to drive new lead and eventually new business, which of course means increased revenue! *Heart-Eyes Emoji* Let us know what your New Year, New Brand! resolutions are by filling out our form here
Rebranding is an important component for the evolution and future of your brand. It is important to find whether you have the time to research, plan, and execute a branding strategy properly. If you are looking to rebrand, tweak certain aspects, or just say hello, shoot us an email at email@example.com for a chat!