No matter what the industry, there can be a lot of hesitation when rebranding your business. We rebrand advisors’ practices from across the country all the time, and some of the more prominent fears we hear in conversations are:
- Will my existing clients recognize me?
- Will my clients think I’m no longer in business?
- Will my new brand represent me better than my current brand?
- How much money will be involved in rebranding all my materials, digital presence, signage, etc.?
All of these are legitimate concerns.
But ask yourself these questions:
- Is your brand taking your business as far as it can go?
- Has your target audience changed or evolved?
- Has your product changed or evolved?
- Is your brand simply outdated?
If you answered “yes” to any of these questions, your current brand may need to change. If your business is evolving (and it should be), so should your brand. Think of a rebrand as a positive evolution for your clients and prospects to see; it tells them that you’re growing and succeeding.
In this day in age, it’s common to see a company rebrand. Maybe it’s just a redesign of what they currently have, or maybe it’s a completely new look and feel.
So, what sort of message does a company’s rebrand convey to their demographic or target prospect?
Most people are familiar with major brand evolutions like Apple, Coca-Cola, or even Instagram. But here’s an example of a protein bar company that completely revamped their brand and increased customer excitement and sales exponentially.
How much so? After the rebrand, the company went from being at the “bottom of the barrel” to being “the number-three wellness bar at natural-food retailers.” They turned their business around entirely and grew substantially.
And their rebrand was simple. They abided by a “less is more” mentality and went with subtle, honest, clean packaging. Naturally, some of their customers were confused, but most were excited, which inevitably drove more word of mouth and referrals, thereby creating new customers. Not to mention, they caught the attention of some pretty significant retailers.
Another huge plus about rebranding is that it’s an excellent way to engage with your clients and prospects. I recently launched a full rebrand for an advisor’s practice that included not only a rebrand of his company overall but also of his newly launched radio show. Through showcasing this brand via events, materials, digital, video, etc., he was able to increase attention, credibility, and momentum to his practice, as well as overall ROI.
To grow your practice, you need to find ways to set yourself apart from the competition in your community. In order to accomplish this, you want to convey your unique voice through high-quality branding that shows who you are and what you represent to your ideal client.
Modern, quality branding gives your prospects positive gut feelings when they see your logo or name and invokes a sense that you and your practice are worth investing in, ultimately turning them into clients.
What’s so scary about that?