The Des Moines Business Record recently printed an article on the right time to rebrand your business. The article explored branding and how (and when) companies need to take a look at their products and services and how they are perceived by customers.
I had the opportunity to contribute to the article, “Gaining Clarity: Evolving your Brand,” offering my experiences and insights related to rebranding. Strategic America has helped scores of companies over the years get to the essence and true effectiveness of their branding. We’ve worked with them to plan and research what sets them apart and what resonates and draws s their customers come back repeatedly.
In the article, I offered some critical questions to help determine whether your company is in need of a change:
- What’s happened in terms of sales for a product line or business unit or company as a whole?
- What’s happened in terms of market share?
- Is the market engaging properly or are you losing some engagement opportunities, and if you are, what’s it look like?
- Are there key performance indicators that seem to be moving in the wrong direction?
Why is on-target branding so critical?
You either connect with your audience, or you don’t. A consumer turned off or confused by your brand is less likely to be receptive to marketing initiatives and social media engagement, and any type of disconnect may prevent them from seeking out your product or service. To achieve effective branding, you need to understand who your target customers are and how they feel and think about your company.
It’s okay to move on
We become connected with brands, especially our own. And that can make it difficult, even intimidating, to revise, refresh or re-position your brand to your markets. Ask yourself the questions noted above and determine whether status quo, and the bottom line, can be enhanced.
If it does, it’s time to rebrand.
Have you made the leap to rebrand your company? What kind of impact have you seen?
My Recommended Reads:
- The Right Time To Rebrand by Mike Wicks, Douglas Business Magazine
- Rebranding 101 by Nick Nanton and J.W. Dicks, FastCompany
- Re-Branding: Three Steps for a Successful Team Transition by Nancy Belmont, Sustainable Brands