Your brand is the identifying quality of your company. It is the culture of your small business and it will determine both your consumer base and your bottom line.
If things aren't going smoothly with your small business, and you suspect it may be a branding problem, there are a few questions you should ask yourself, Business 2 Community suggested. Does your brand stand out? If not, you should consider rebranding. You're going to need to be recognizable among the static. Does your brand promise anything to the consumer? If not, why would he or she be interested in your business? Does your brand represent what you want to accomplish as a small business owner? It is just as important as your financial plans or the people that you hire.
A brand sells products, and sometimes businesses have to rebrand in order to have a better chance at making sales. If you feel that you need to rebrand, read the advice below in order to ensure that the process goes smoothly and ends with a brand that customers will want to buy into:
1. Identify your old brand, and then start coming up with a new one
Find out what about your brand works, and what about it doesn't, Kabbage suggested. If aspects of your business's culture are working, then don't change them, only alter the pieces of your brand that are hurting your bottom line. Consider your goals as a business owner and how they match up with your company culture in the present. In addition, you will have to identity what you'd like to change with your rebranding effort in order to come up with a new one. What is it about your current company culture that is holding you back, and what changes can you make to achieve your goals?
2. Consider your customer base
Maybe you'd like to rebrand because you're seeking out a different customer base. If this is the case, then consider what channels will best allow you to reach your desired consumer, Inc. recommended. For example, Seattle's Best was long served at cafes, kiosks and food service locations, but the company wanted to appeal to a wider customer base. In order to do so, the company placed its products in fast food restaurants and movie theaters. Reaching a larger consumer base can be a great way to fill the voids in your business.
3. Design a plan for your rebranding effort
When you've figured out the changes you'd like to make and why, make sure that you write all of them down in detail, Inc. recommended. Write down what's wrong, how you are going to fix it, and how long it is going to change. In addition, assign roles to each member of your staff detailing how they will assist with the rebranding of your process. After you have created your plan, make sure to discuss it frequently throughout the rebranding process.
4. Communicate the changes that you are making
Before you begin the rebranding process, you will need to make sure that your employees are okay with it and ready to implement the changes, according to Kabbage. You will have to make sure that everyone is ready to carry out the changes to your brand. Communicate to your staff the official start date of the rebranding effort, and make sure the marketplace also understands your new brand. Send emails, issue press releases, and do whatever you need to do to make sure that your new brand is obvious.
Rebranding can be a difficult process, make sure you utilize the four above tips in order to make it easier on you and your staff.