It never crossed my mind when I started my business that there will come a time that I would need to rebrand, and not only that but so soon. You see, originally when I first started out, I started in my own personal brand, but operating under another business name. As I began to grow my clients and services, I realized a silent shift that was happening underneath all the activities.
In February 2017, I incorporated my current brand, Loop Link Coachsulting. As this took flight, I thought it was going to be simply a new logo, name and look but the essence of the old business model would be the same. I was completely wrong! With a new name, came also a new identity. To rebrand your business, it meant looking at your market, your current brand, and making changes both internally and externally in order to reach your business goals. Without investing in the process meaningfully, it can cost you a lot of time and energy.
1. Your brand no longer reflects your vision.
One of the greatest things about owning your own business is that you control the vision. Sometimes that vision changes within your control or gradually evolves.
2. Your business model or strategy has changed.
Your brand needs to align with your target community. You need to reevaluate the brand to make sure it’s aligned with the changing community.
3. You’ve outgrown your brand.
A popular coach I’ve been following in the last few years has currently shifted her brand and focus as she felt it’s something she’s grown out of, and now called to do something new. This is the biggest indicator it’s time for a rebrand. Or even a new brand.
4. Lack of connection.
You conducted research and the brand doesn’t resonate with your target audience. You have to think about the message that is reaching your ideal customers and community. It could also result in your marketing materials that don’t align with the channels they are in either.
5. Mashup dash and dump.
Your brand attributes are a mashup of elements that doesn’t showcase your brand’s personality. If you originally hastily put together fonts, colors, and a DIY logo, it comes off as amateur especially if your brand has grown. It’s time to align the attributes with the personality to showcase.
If you’ve been thinking about why and how to rebrand your business, take a moment to do a realized benefit analysis (ie. a pros/cons list but with an ROI attached to it)
Some of the questions that you want to ask yourself include:
- Is my brand working the way it’s supposed to?
- Are sales steady?
- Do I stand out from the competition?
- Does my brand reflect the goals, vision, and strengths of my business?
- Am I happy with my current business operations?
Remember that you shouldn’t rebrand your business unless if it’s absolutely necessary.
Remember that if you are choosing to rebrand, choose to get it done in a systematic and organized way. Pay attention to the feedback of the market because it can contribute to a massive success.
The biggest suggestion I can give you is, don’t tackle rebranding alone!
Get some help, and it could be in the form of investing in your business. It can help you avoid major flops and longer periods of recovery with more effort and time.