Rebranding is the creation of a new name, term, symbol, design, or combination thereof for an established brand with the intention of developing a differentiated position in the mind of stakeholders and competitors.
Rebranding is the creation of a new name, term, symbol, design, or combination thereof for an established brand with the intention of developing a differentiated position in the mind of stakeholders and competitors.Far from just a change of visual identity, rebranding should be part of an overall brand strategy for a product or service.
The world of business is in constant motion. Clients' needs evolve. New competitors emerge. Regulators rewrite the rules. And, of course, technology changes everything.
Every few years, transformations in the marketplace compel professional services firms to step back, reassess their place in the universe and adjust to the new reality around them. Now, wherever change happens, hidden opportunity lurks. Unfortunately, most firms are far too accustomed to the way things were to recognize the way things could be.
The practice of rebranding is the ideal way to address these challenges: realigning companies with fundamental changes in the marketplace and revealing new paths to grow your professional services firm. In this issue of Pivot, I step you through a tried-and-true process of self-assessment and re-adjustment, so you can recalibrate and reenergize your firm's brand.
When a customer invests their time and money into your business, they need to trust that they are investing incredible people. The positive emotional response that is triggered by a strong brand is the first step in building this trust.
An outdated logo and a tired brand do not reflect your business exciting future and strong position within your market. However, a bold, contemporary logo and punchy marketing materials will give the appearance of power, confidence and experience. It will stick in the minds of potential clients, and they will immediately associate your name with a business that can respond to their needs.
Your brand communicates how you see your business; communicating your companyâ€™s unique qualities can mean the difference between 'thriving' and 'just surviving'. A unique identity can visually distinguish you in the same way that your ideas, expertise and employees can distinguish the experience of working with you. If you have the confidence to invest in your brand, potential customers will start to share your confidence and in turn, they will invest in you.
Since a rebrand portrays positivity, progression and self-belief, a rethink of the company's image could directly influence your employees' desire to be associated with the company. Management confidence will directly affect their attitude towards the business. A modern, strategic and effective rebrand communicates that your company is able to proactively adapt; not only will this portray the rewarding new challenges that await your employees, but also convey a sense of stability.
A powerful new image will communicate your company identity as a progressive, thriving business. A stronger logo and a striking new website will pave the way for business expansion and portray a fresh start, ready for growth into new beginnings. It will encourage consumer confidence and drive positive changes within the business.