The Power of Rebranding

A rebrand is an opportunity to transform the perceptions your target audience have of your company. Get it right, and you will reap the rewards of a loyal customer-base who buy from your business because of your brand.

Naturally, the task of undertaking a complete brand overhaul is daunting for any business no matter the size or sector. After all, rebranding is about much more than just updating your logo or choosing new colors. The path to success has many steps: in order to win the hearts and minds of your ideal customers in a hyper-competitive landscape, you will need to think carefully and plan the process to precision.

But let’s take a step back for a minute: before you start to consider ideas for your new brand, it’s a good idea to make sure you’re rebranding for the right reasons. Rushing into a mammoth task such as this on a whim is not recommended, but how do you know when it’s the right time to make a change?

Your target audience has changed

Whether you’ve launched new products or plan to positively disrupt an untapped market, one size unfortunately does not fit all. Clearly, a brand that attracts a 21-year-old female will be considerably different to one that appeals to a 51-year-old male. Let’s say you’re eager to draw in the millennial crowd but your business has historically set its sights on the older generations: a rebrand will be essential in presenting your target demographic with an image that they can connect with and relate to. Keeping on top of shifting demographics within your target audience is the key to keeping your brand fresh and relevant to the right people.

Your company’s image doesn’t reflect your services

A well-crafted brand can go a long way. However, as times change and strategies evolve, most businesses will live to outgrow their brand. This is a natural part of the business lifecycle: perhaps you’re expanding into new markets, relocating your company or are merging with another firm. Maybe the design simply feels outdated or the messaging does not align with the company philosophy. In any case, a meaningful change often demands a clean slate. If what you say does not mirror what you do, it’s usually a good sign you’re your business could benefit from a rebrand.

You don’t stand out from the crowd

Your brand is the essence of your business; it’s the visual representation of your Unique Selling Point. If your audience struggles to differentiate between you and your competitors, it’s clear that something isn’t working. While design trends can cause similarities between colours and logos, no two brands should be lumped into the same box. Change for the sake of change may not be a good strategy, but taking no action will cause your brand to go stale as it hides in the shadows of similar companies. Faced with fierce competition, businesses must increasingly find ways to set themselves apart from a growing number of industry rivals. If this sounds familiar, a rebrand could be the solution to your problem: after all, people usually stop to listen when a brand is marketed as different, not better.

At Candid Consulting, we know a successful rebrand is more than just a facelift or a fresh lick of paint – it’s a chance to change how people feel about your company and breathe new life into your products and services. If you’re on the cusp of transformation and could do with a helping hand, get in touch with the team today.

Knowing Your Audience as a Predictor of Success

Aristotle’s greatest advice was “know thyself”. Sun Tzu in The Art of War said, “know your enemy”. But the cardinal piece of advice for any entrepreneur or startup should be “know your target customer”.

As a startup, you may have a great product to offer, but unless you do your research to see who exactly the niche audience for your pitch should be, you might find yourself selling your product to people who cannot see the value in it, and as such, will not allow you to grow and succeed.
Research and testing are the keys to knowing what your customer needs, and how to keep giving it to them!

Case in point, Netflix. The company that started out as an online DVD-by-mail rental company has since blossomed into a streaming colossus and production studio. One of the many factors in their success is how they keep viewers’ attention once subscribed. Netflix’s predictive algorithms have their customers’ preferences down to a T, even among multiple users within the same account.
Their subsequent suggestions based on this knowledge allow the customer to feel less overwhelmed by the myriad choices confronting them each time they sign into Netflix, not to mention making them feel more appreciated by the company. After all, most people simply want to be understood – and Netflix does an excellent job of predicting the best content for your next “Netflix and chill” session.

What do you have to offer? Who is your ideal customer? And once you have them, what are they telling you that they want? The age-old aphorism “the customer is always right” applies here – they are telling you what they want from you with every click, every purchase, every online review, and every customer service encounter.
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Your ability to take this data and transform it into increased value for your customer will make the difference between doing fine as a business, and doing great.