Your company’s branding is incredibly important. As, whether it’s something integral like a name or logo, or it’s something simple like the colours you choose to represent your business on your packaging and online presence – your branding is the first aspect of your business that potential customers will see.
This means, if your branding is outdated or confusing it can actually put off potential customers from working with you. No matter how many good reviews you have, if your branding doesn’t make sense, that customer just won’t trust you enough to buy into your business.
So, if you’re looking to make your business grow, here’s how a branding overhaul can make your company more profitable:
Reasons Why You Might Want a Branding Overhaul
A new brand design isn’t suitable for every company. Indeed, some companies might even find that a poorly executed re-brand could cost them money rather than making them more profitable. Which means, before you decide on rebranding, it’s important that you’re doing it for the right reasons such as:
1. You Want to Reposition in the Market
Whether you have a new product, new prices or you’re marketing in a new place,a brand overhaul can help you reach those new customers you would like to appeal to.
2. You’ve Changed Your Brand Values
Companies are constantly changing and evolving, which means your brand values and goals can change too. If you’re changing other aspects of your business, your branding needs to be updated to reflect this.
3. Expanding Abroad
If you’re planning on selling internationally, you may need to update your branding so that those overseas will understand it too. This is especially true if your branding has been very localised so far.
4. If You Acquire or Merge a Business
If you’ve purchased a business from a previous owner or you’re merging businesses, it’s important to update that branding to reflect this new chapter in the business. Particularly during a company merge, as otherwise the two brandings will fight and clash with each other, causing confusion in customers.
What you don’t want to do though, is just update your branding as you’re bored or because you feel like it – particularly if you choose to do this re-design without the expertise of a brand agency. As, if you change your branding too often or your customers don’t like your new design, it can be very detrimental and confusing to customers, who will then turn to your competitors.
Advantages of a Brand Overhaul
Before you do decide to rebrand your business, it’s important that you know if this is the right move for you. This means looking at all the advantages that it could bring to your business, as this will help make your choice:
1. You Will Get to Connect with a New Audience
As we all know, the more people that know about your business, the more people that could potentially become one of your customers. This is why a branding overhaul can be so beneficial for a business, as this re-brand is sure to introduce you to a wider audience than you had before.
That’s because, as part of a brand agency overhaul, our design team will look in-depth into your business, looking for new and refreshing ways for you to market your business to the public. Which means, when you re-launch your brand, lots of new people will take notice and be interested in either working with you or buying your products, depending on your business.
2. Your Brand will Stay Current
One of the biggest advantages of re-branding a business is that it allows you to stay current in an ever-changing market. After all, the last thing you want is for a customer to look at your website or social media and see trends that were popular years ago, as this will show the customer that you are behind the times, making them reluctant to become a customer.
Instead, by updating your brand to fit in with current consumer guidelines, any potential customers that interact with your branding will see that you pay attention to the current climate and will lead to customers thinking positively about your company.
3. Ensuring You’re Standing-Out from Competitors
As a business, one of the biggest threats to your future are competitors. That’s because, if people prefer the branding or messages your competitor is providing, you could easily lose those customers. By choosing to re-brand, though, you’ll be able to make yourself stand-out from those competitors.
Plus, when looking at your company, a brand agency will help show you how to put your business in a position that it offers your customers a unique service and that you’re a leading name in your industry.
4. Showcase Where Your Business is Going
Our businesses are never staying the same, especially when we choose to add new products or services to that business. Even our brand values and goals change, as businesses are constantly evolving to stay profitable from year to year.
Yet, while businesses grow in other areas, we often forget about our branding, which stays the same and doesn’t evolve with those other areas. By choosing to overhaul your brand design though, you are always making sure that your branding always reflects where your business is at that moment.
5. It Makes Your Company More Profitable
Perhaps the most important advantage of all is the fact that a re-brand is a necessary upgrade to ensure your business is as profitable as possible. By rebranding, you have the opportunity to both inspire your current customers and to reach new customers, which helps you increase your profits.
Would you like to talk to a top brand agency about giving your business a brand overhaul? Well, just contact our expert team here at Studio Coact, where we will talk you through everything you need to know about new branding for your business. Even if you’re just looking for a partial re-brand, we can help you put together your ideal branding plan.