- How to maintain your customer base while changing your company’s identity
- Rebranding can include updating your logo, mission, and name.
- Consider your strategy and motivations before you embark on this project.
- Ensure that you engage your existing customer base during the entire process.
- This article is intended for small business owners who are looking to rebrand.
There are many ways to rebrand your business, including naming it or implementing a new model. Despite these changes, businesses still need to communicate with their customers.
What is a rebrand?
You may have outgrown the original design that you created years ago. Maybe it is time to refresh. Your company’s logo, email templates and brand colors can all be part of the overall design. These design elements are closely linked to your company, so it is important to dedicate significant time and resources in order to create a comprehensive plan that covers each element.
Updating the mission and vision
Successful businesses must be able to adapt to changing market trends and customer preferences. Perhaps your company started out selling one product and has since expanded to include more products. If you have the opportunity to reach new markets or expand your business, it is time to rethink your brand strategy to ensure that customers continue to connect with you. It is crucial to constantly look at your customers’ interactions with your brand, and adapt to their changing needs.
Consider these things when rebranding
Your business’s brand can help you gain market share, customer engagement and value while also making your company stand out from the rest. However, it is a complex undertaking that requires strategy, planning and research.
1. Find out why you are rebranding.
Rebranding is a big undertaking that involves your marketing, web presence and client list. It also involves employees and your mission. It is easier to make the process successful if you have a compelling reason for changing.
David Black, head of marketing for RetireReady Solutions and customer support, helped lead his company through a rebrand. This involved both a major name shift and a refocusing on services. Their case was that a rebrand was needed to promote growth and clarify their services. He explained that rebranding can do more harm than good for your business if it is not.
2. Before you start, plan a comprehensive strategy.
Many businesses are shocked at the complexity of a rebrand. Although initial plans might focus on a new domain name and matching domain, it is likely that the process will involve new logos, products and a new website design. Product guides, new logo designs, new website content and product design, and the creation of new logos. Before you start, make sure that you have a plan in place.
3. Be prepared for questions and concerns.
It is crucial to communicate with clients during a rebrand in order to maintain existing client relationships. Customers who don’t understand the reasons behind changes could lose faith in your business and may see a drop in revenue.
Brian Moak, the owner of HEART Certified Auto Care, based in Chicago, rebranded the family business to make it a national franchise. He discovered that many of his customers were concerned that the expansion and name change would mean that the family-owned business was being sold. Moak made sure to anticipate their questions and provided answers before they moved their business. This helped preserve their trust.