Why should you be thinking about refocusing and rebranding?

Image credit: Eva Elijas from Pexels

The COVID pandemic made 2020 and 2021 years of significant change, forcing everyone to adapt in ways that they never thought they would have to. Schools all across the world closed, with parents trying to juggle work and homeschooling, businesses closed down left, right, and center and staff in multiple industries were furloughed for months. We are still not out of the woods yet - we have an uncertain future ahead of us that many of us are understandably anxious about. 

However, while these changes did not come about in particularly pleasant circumstances and were forced upon us with no warning and little to no time to prepare, not all of the changes were necessarily bad. Businesses have expanded and found new ways of functioning, many processes have been streamlined and flexible and remote working has become much more commonplace. 

​Now is a great time for businesses of all shapes and sizes, whether huge multinational corporations or one-man bands to take a step back, look at the changes that have been made thus far and refocus their efforts, and rebrand. It is a significant change to a business - after all, you are looking at changing the way consumers percieve your brand, so you may want to consider professional change management to make the process smoother. Let’s look at why.

What is branding?
“A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers” (American Marketing Association).

Many business owners erroneously assume that a company's "brand" is merely its name and logo. Of course, this is not true; while the name and logo are essential components in branding, it is much more than that. A brand can be defined as the idea or image that people have in mind when they think about a company's specific products, services, and activities, both practically and emotionally.

What are the benefits of rebranding?

It allows you to connect with a new audience
The ability to reach new customers is the most significant benefit of refreshing the look and feel of your brand. People will take notice when you focus on new aspects of your business and properly promote them. Rebranding can provide the impetus your company requires to generate new growth in an ever-changing market.

It sets you apart from the competition
As your company grows, your functionalities may begin to compete directly with those of your industry competitors. Rebranding can be the most effective way to differentiate your company's offerings and approach. By making that clear distinction, your brand communicates to potential clients that your services are one-of-a-kind, and that you are the masters. Rebranding your company so that it has its own voice, look, and feel will aid in its establishment as an industry leader.

It enables you to stay current
The goal of rebranding is straightforward: to keep your brand current. Design trends have a significant impact on how potential and current customers perceive your company and everything it has to offer. Making certain that your appearance is always ahead of the curve demonstrates to your customers that you are aware of industry trends.