By Marisa Hochberg : https://www.zimbio.com/Marisa+Hochberg/connections
Your company has a great product or service but a confusing name. What’s the new logo going to look like? How can we undiscover our competitors’ logos and slogans? What should we change about our title, tagline, and mascots? If you’ve suffered from brand confusion your whole life, you might be ready to give up and release your corporate lids. But what if there were more to life than just going to bed happy every night and being able to state with certainty which of your friends were “the ones that got away”? A brand is as much about image as it is about substance. As such, rebranding is an essential part of any company’s growth strategy. You see, without a consistent brand identity, your customers will struggle to understand why they should choose your company over its competitors. And this means they will struggle even more when it comes time for them to make their purchasing decisions for the next few years at least. So how exactly can you benefit by rebranding your business? Let’s take a look at some of the benefits:
Increase Brand Awareness and Awareness Marketing
Brand awareness is the process of increasing the number of people aware of your brand or product by creating awareness through word-of-mouth. This may sound simple, but trust me, it’s incredibly hard. It takes consistent and focused marketing efforts to make this happen. Luckily, rebranding is a fantastic way to get your name out to the right audience. When your customers find out they can buy from you with confidence again, they’re more likely to do so. That means you’ll generate repeat business, get more leads, and make more sales.
Save Time and Money
How much time do you spend looking at your competitors’ ads and trying to decipher what they’re saying anyway? This is time that could be spent creating new and engaging content. And time that isn’t being put back into growing your business. Having a consistent brand identity not only makes your customers feel confident when they’re shopping with you again. It also makes you look professional and increases the likelihood of booking a meeting or hiring you for a job.
Boost Print Advertising
Not only will your ads appear in your company’s new logo, but you’ll also launch an exciting new product or service in support of it. Imagine showing up at a new customer’s house with your latest and greatest offering. They may well be willing to listen to your pitch after all! Brand Loyalty Ads are a great way to get your name out there.
Help Build Customer Relationships
This is a huge one. Customers are more likely to keep coming back to you if they have a reason to. That reason may be as simple as a recommendation from a friend or a review written by a happy customer. You can earn some serious loyalty points if you can build those up enough to be meaningful.
Create Growth Opportunities
This is another huge one. When someone purchases from you for the first time, they are usually testing the product out. This means they are not yet fully committed to buying from you long-term. By branding your product with a name and a face, you give them a reason to trust you. That means they are more likely to be willing to buy from you again and to recommend you to their friends.
Reducing Livity Risk
If someone is unhappy with your product or service, they have three options: they can complain, they can return it, or they can complain and return it. A brand is only as strong as the people buying from it, so if your customers aren’t feeling it, then it’s reflected in sales. This risk can be reduced by choosing a simple and clear logo. Your logo is the “face” of your company, and if your customers can’t easily identify you (or can’t find you), then they won’t feel confident enough to purchase from you either way.
Summing up
A consistent brand will help your business stand out from the crowd. It will also help you to retain customers, increase productivity, and lead to more growth opportunities. If you’ve ever struggled with brand confusion, the best thing to do is to rebrand. This will help you to connect with your current customers more effectively, gain a stronger understanding of your potential new customers, and give you more room for error. The benefits of rebranding your business cannot be overstated. A brand is a powerful thing and can have a profound effect on your business’s success. Before you sit down to launch your new brand, take some time to reflect on the benefits of rebranding your company and see if they don’t apply to your business as well.