20 May Is your brand holding you back? 5 signs it might be time for a rebrand.
As a business owner, you know your business inside and out. It’s basically your baby and like a baby, you love them, and know them better than anyone. Although this intimate understanding of your business is incredibly powerful, and totally invaluable, it can also be somewhat limiting.
The thing is, like the love you have for a child, when you know something so well, it’s possible to have a blind spot when it comes to its failings. Working tirelessly in your business, it can be hard to take a step back and see there may be room for improvement. If you’re starting to feel that your business is not performing as well as you’d like it to, it can be tricky to identify exactly what’s going on or, how to fix it. In fact, business owners tend to look at factors like service and price point while overlooking something as foundational as their business branding.
If your business feels like it’s flailing and you’re not entirely sure why, it may your brand doing you a disservice. Here at TDO, we’re fortunate enough to have been involved in maaaaaaaany business rebrands and, over all our years of working with business owners, we’ve noticed some common themes that you should be looking out for that clearly show it’s time your business had a rebrand.
- There’s very little, or no, money coming in.
As I mentioned earlier, the most obvious sign that things aren’t working right in your biz, is a lack of money coming in. Now, rather than blaming something you’re doing, it’s more likely that it’s something you’re NOT doing. Like, rebranding your business. When your brand has stagnated, your sales tend to do the same because you’re no longer appealing to the right people and thus, those who are noticing you are not the ones who need what it is you’re offering.
- Your clients are really, not great.
The thing about good business branding is, it speaks directly to your target market. It almost acts like a filter, ensuring you appeal to the people you want to work with, and not to those who you don’t. For this reason, if you find yourself getting frustrated over and over by the unrealistic expectations of your clients or, customers who don’t like what you’re doing, trust me when I say, it’s not you, it’s your branding!!
- You’re moving your business in a new direction.
After being in business for a while, it’s highly likely you understand your market, and what they want, much more and, as a result you’ve tweaked your offering accordingly. When you do make changes to your business and the type of service you provide, it’s super important that your branding reflects this new direction. And what better way to promote your refreshed product or service, than with an awesome business rebrand?!
- You’re not particularly proud of your business.
Returning if we may, to the baby analogy I used earlier, I think we’d all agree, there’s nothing prouder than a new parent. Photos are shared left, right and centre and, it’s hard to avoid hearing all about the new baby. Although this is potentially a little excessive and no one wants you to be that guy, it is important to feel pretty darn proud of your business baby and all the hard work it’s taken to bring it to life. If you’re hesitant to share a link to your website or, your business cards are languishing in your pocket while you’re supposedly networking, it’s probably time you thought about zhuzhing things up a little bit.
- There’s no alignment across your business.
One of the lesser known benefits of good branding is its ability to ensure consistency across your business. If you’re feeling like your website doesn’t communicate your values or, your products don’t align with your style of customer service, it’s time to think about a branding update. For your business to run smoothly, each aspect of your business should be working synergistically and, excellent branding will ensure this is the case.
A common human trait is, when things aren’t going well for us, to unintentionally shoulder the blame. However, when it comes to your business, it’s very likely what you really need is to invest in a rebrand. By rebranding your business you’re telling your customers you’re ready for the next stage of growth, that you understand what they want from you and, that you know how important it is for you to stay relevant.
If these 5 signs are resonating with you, now would be a good time to get touch to find out what a rebrand would look like for your business.
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