Could rebranding benefit your business?
A strong brand message is vital to driving business success in the long term as it will influence customers when they are considering whether to make a purchase.
Recognisable brands stand out from the crowd and build up a reputation for delivering a good standard of product or service.
For small businesses the brand is not always going to go global but the design and message behind it still need to be strong.
Refreshing a brand is one option, but this can be a risky and costly procedure, especially if the rebranding does not have the desired impact upon sales and business operations.
Almost 600,000 were businesses launched in 2014 and all wanted to stand out, especially in competitive marketplaces where good branding could make all the difference.
Showcasing the business
The key to a good brand is for it to identify what a business is all about – this is then developed further with marketing activities.
Essentially, customers should be able to understand the brand quickly and be capable of deciding whether they want to find out more based on their initial impression.
Small businesses can gain a lot by looking at the approaches taken by larger companies when considering how to refresh a brand.
Even a punchy and effective tagline that relays the company message can prove successful, providing it reflects the overall point that the firm is trying to make.
Another option is to simplify branding so that it is even easier to understand, enabling better communication with the target market.
Avoiding negative connotations
Some words do not translate well into another language which makes avoiding these, as well as idioms and slang terms, something that is absolutely essential.
Considering the target market should help to ensure this does not occur, while engagement with customers should also mean it’s possible to get feedback on potential ideas.
Poor branding could leave smaller firms in difficulty as it could mean low sales figures and wasted finances on marketing campaigns that will not work.
In the worst instances it could leave firms requiring business rescue if the finances are managed inadequately and it is not possible to resolve the situation.
The key is to identify if a brand is working and if it is consistent – companies that change their products or services need to be particularly careful to ensure they are still reaching their target market.
By Phil Smith