Why Rebranding Your Business Can Be the Jumpstart You Need

It can be tough to turn on a dime and just pivot.

During this challenging time for small business owners, changing the way you think about or conduct business may be the last thing you want to tackle. However, for business owners looking to remain sustainable and continue to grow, a rebrand may be exactly what you need to reach the right audience, increase your income, and receive the recognition your business deserves. 

What is a rebrand?

A brand is the way your business is perceived in the minds of your customers. A rebrand involves changing the way your current brand is understood to accurately and effectively represent your business to the right audience. 

A brand is made up of both visual and non-visual elements. The visual elements are items people typically think of, such as your business’s logo, color palette, typography, imagery, and graphic style, as well as functional extensions of your brand such as your website and marketing collateral. 

Whereas your brand’s strategy, positioning, values, and tone of voice make up the non-visual elements. These elements are just as essential to building a solid brand, if not even more so, but are often neglected. They’re the elements you can’t necessarily see, but always perceive. Is your business positioned as a high-end, luxury retail store? Or, as a bargain-hunters dream? The differences in audiences are huge, and so is the way in which your brand is thought of by your customers.

Your brand’s strategy and positioning needs to address three big questions: who are you, what do you do, and why should I care? Having the answers to these three questions are crucial to developing your business’s brand on a foundation built on substance, rather than style alone.

It takes just 10 seconds for people to form an impression of your brand.

Why would a rebrand be the right choice for your business?

As business owners doing whatever it takes to survive and thrive in 2020, you don’t want to waste your time investing in something that isn’t going to deliver results. Read further to discover if a rebrand is the right fit for you:

You’ve outgrown your current brand.

Perhaps you’ve been in business for a while, and the way you’re presenting your business to the world no longer accurately reflects your audience or the quality of your services or products, it’s time to level up your brand. What might have functioned well when you first began, may no longer cut it in terms of who you are as a business now. Your products or services may have changed, your audience might be different or more niche, or you may be headed in a different direction entirely. 

In working with clients who have been in business for over 20 years, we know that what worked then, won’t work forever. Rather than sticking with the same brand you started with, a rebrand can help you reach new audiences and demonstrate the skills, products, and services you’ve refined overtime. 

Your current brand never represented your business well in the first place.

We all know what it was like to start your business with a dream and a shoestring budget. You have to do what you need to to make it happen, and happen quickly. However, as a business, adaptability is key. You need to stand out from the crowd and be an active challenge to your competition. If your sales are stagnant, your look is outdated, or you’re not aligned with your target audience, you could benefit from a rebrand.

You’re ready to invest the time and resources into building a brand with substance—one that lasts.

As entrepreneurs and small business owners, we wear so many hats and have the passion to take on every challenge. However, ask yourself what is truly the best use of your time and resources? When do you reach your limits and ask for outside help? Knowing when it’s the right time to take a step back and give your business a hard look is what will ultimately keep you in business. It takes an investment of your time and resources to build something of value that lasts. If your business is suffering and your existing brand lacking, it’s time for a rebrand.

By Meg Mothershed

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