101 Rebranding | Advice on putting a new spin on your business
The economic state of the nation is still downtrodden and your business is suffering. But before you throw in the towel, consider rebranding your company. The strategy could jumpstart your stalling enterprise and it may take far less work and money than you think.
The following pieces of advice provided by Anaezi Modu, founder of rebrand.com, will put you on your way to a fresh, new image and a second chance at entrepreneurial prosperity.
Don’t get caught looking backwards. There’s a significant difference between nostalgia and irrelevance.
“Successful rebranding means staying relevant,” Modu says. “Remember that assumptions made when the brand was established may no longer hold true. Explore various opportunities for brand expansion, such as online advertising.”
Where are you going? Like any major project, rebranding requires the allocation of time to devote to analysis, objectives, target markets, budget, timeframe and methods of review.
“Effective rebrands rely on a creative brief to keep everyone focused as the project progresses,” Modu says.
A fresh perspective. Sometimes the best learning tool involves experiencing your company as your customers do.
“Simply calling your own 800-number or receptionist may reveal challenges customers face and inform your rebranding strategy,” she says. “Take the time to navigate your own web site, buy your products and return something.”
Deliberate decisions. “Dismissing brand equity when rebranding alienates established customers,” Modu says. “Consider the needs and mindset of the target market carefully before diving into the process.”
It’s a steal. On the surface, a rebranding initiative sounds like an expensive undertaking, but Modu insists it doesn’t have to be.
“Good thinking doesn’t have to come with a multi-million dollar payout,” she says. “You can get good thinking and solid strategy from small and talented branding agencies, consultants and in-house talent."
WBJ Web Partners
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