Have you ever thought about how rebranding your business is a bit like changing your name?
Hear us out! Have you ever had to change your name? A nickname perhaps, or a new married name, or a divorce.
Firstly, deciding what to change your name to is a BIG decision. The back and forth over what sounds best, what people might think, and what the wider impact might be, can leave your head in a spin!
When you rename yourself or a brand, people make the transition with you to your new identity. As an individual you would aim to keep your achievements and reputation, while companies will want to keep their existing customers and previous brand recognition as they refresh their image to attract new clients.
Keep reading as we delve deeper into the benefits of rebranding for your business.
How do you rebrand a company?
Rebranding is the process of reshaping how a company is perceived by updating and refreshing the aesthetics, content, strategy and offering of a business. Rebranding can include changing the name, logo, tagline, brand colours, website, marketing strategy, products or services.
- Step one is to identify what isn’t right with your current brand. What is holding you back, and what needs to change so that you can meet your goals?
- Follow this up with brand research – look into what your peers and competitors in the industry are doing well, which brands your customers and clients are engaging with, and what the latest updates are in your sector.
- Define your mission, values and narrative to ensure that your branding and marketing strategies will reflect this. If you need tips on how to do this, read our blog about the fundamentals of marketing here.
- Once you are ready to launch your rebrand, get started with your brand activation plan, sharing this exciting news with your audience.
- Remember – consistency is key! A consistent brand presence across all platforms can increase revenue by 23% by boosting brand recognition and encouraging communication (Forbes).
What are the benefits of rebranding?
Rebranding can boost your brand’s position in front of audiences by:
- Staying fresh and keeping up to date with the current market trends.
- Keeping your site looking modern and enhancing user experience.
- Reflecting your brand’s current values and ethos.
- Making your brand more recognisable, increasing brand visibility by creating a strong brand identity. Did you know that 55% of brand first impressions are visual? This is why your logo and colour scheme may be more important than you think!
- Attracting new customers and renewing existing customer interest, connecting with people on a more authentic level to gain loyalty and conversions. 81% of consumers need to trust a brand to consider buying from it (Edelman).
- Standing out from the competition and staying ahead of the curve in a changing market.
- Reflecting your business as it changes, grows and expands.
How long does it take to transition to a new name?
When you rename yourself or a brand, people make the transition with you to your new personal or professional identity. People you communicate with regularly will hear your new name via email, meetings, or social media, and will begin to start using it. Similarly, for businesses, customers will gain visibility of your new logo, website, or communications being shared.
Despite your new name, you will aim to keep your previous professional achievements and work history. In the same way, companies will want to keep their existing customers and brand reputation, alongside retaining loyal customers. For those who knew your old name, this may be a distant memory, and as you make new acquaintances people will only know you as this new person. In terms of branding, this allows businesses to attract new customers and engage new audiences while keeping the loyalty of those who have been with them since the start.
The process is similar in other ways too – there may be legal factors, updating documentation, contracts, email signatures, the works!
If you have ever changed your name, you will know that, relatively quickly, people get used to the new you. Transition time will depend on how well established your brand is, what size your customer base and wider prospect pool is, and how often you come into contact with your audience.
For care providers of small to medium scale, we would suggest you first communicate that you are changing your name over 1-2 months. Then spend the next 6 months transitioning with a “previously known as” type message. After this time you can assess whether your audience is ready to fully see you in a new light.
In conclusion
Rebranding is an important consideration for any business to ensure you stay relevant, engaging, and in touch with your modern audience.
When branding any business, whether you are a Care provider or supplier, it is vital to understand your company’s definition and positioning to effectively market to your target audience.
At Splice of Lime we can support your business with a full marketing campaign strategy to develop your brand, help you define your messaging, and make delivery more consistent to grow your visibility, reach, conversions, and longevity.
To find out more about our services and how we can support your marketing or rebrand, get in touch today: hello@spliceoflime.com.