Are you the same person you were 10 years ago? Neither is your business. Chances are, if you’ve been around for more than a few years, something about your company has changed. This might be a slight tweaking to make your business more competitive or a complete shift as a result of industry changes. No matter what has changed or why, your brand should reflect that.
Core Offerings Are Huge
It’s easy to disregard slight changes to your products or services because they might not seem like that big of a deal from the inside. (Especially if this was a gradual shift.) However, from a potential customer, that small amendment could be just what they’re looking for. Take a step back, and look at your core offerings with a fresh eye. If someone you did business with on the first day you opened your doors approached you now, would you offer them the same service?
Company Culture is Key
Too often, company culture is overlooked when it comes to selling a brand. However, your culture and your brand cannot be separate. You’ve probably worked hard building a strong internal system of communications, employee engagement, general workforce bonding, etc. Sharing that with your target audience adds to your overall brand equity. Additionally, promoting your strong culture will help attract top talent that will drive your business forward.
Brand Equity Needs Attention
Speaking of brand equity, have you measured yours? Establish how much value your brand has within your target audience, and how recognizable it is among those in your network. Your customer might have a general idea about what you bring to the table, but the strong key points may have become muddied as your business has changed. A rebrand can be a fantastic way to reestablish your messaging and give your hard-earned brand equity a boost.
As you’re taking a look at how your brand has changed for your target audience, remember that it’s important to actually define those target audiences. If you’re still not sure whether or not you need a rebrand, take our quiz!