Rebranding: New Year, New Name

We’ve just launched a new brand for our company. Through the exciting process, we focused on a few key issues:

What’s in a Brand?

It’s more than just a logo. Brands provide credibility, expansion opportunities, and competitive advantage that help ensure sustained business growth. Your brand is how your clients perceive you when your logo is seen, your name is heard, or when an invoice arrives in the mail. It is the key to your long-term survival and recognition as a leader in your market.

To successfully promote your brand, you must consider every point of contact with clients, prospects, and partners. Develop messages that will create impressions that result in increased business opportunities and profits. Something as simple as changing the greeting on your phone system sets the tone for your callers and supports your brand.

Why Rebrand?

“An object in motion will remain in motion, while an object at rest tends to stay at rest.”
– Sir Isaac Newton

That simple statement says it all. In today’s competitive marketplace, you must continue to evolve your business to stay relevant, reposition to address changing market trends, or revitalize your organization to meet strategic goals. These are all dependant on developing an effective brand.

When to Rebrand?

Companies that are expanding product or service offerings (organically or through acquisition) make up the largest percentage of companies initiating rebranding efforts. Other considerations for rebranding can include:

• To move into new markets, especially with global expansions
• To exhibit unique innovation – such as Apple’s “i” devices (iPhone, iMac) branded to distinguish their place in the internet market
• To combat stagnation or brand erosion

The bottom line with any rebranding strategy is that it should enforce the bond you have with your current client base and create interest with your prospects. Your brand should position you as the ONLY option, rather than the better option. Successful rebranding will ultimately enhance your client base and increase customer loyalty leading to continued business opportunities and referrals.