5 signs it's time for a rebrand for your creative business
I’m a big proponent for doing what you can with the budget and resources you have when you’re first starting your business. Often you can grow and scale with minimal investment but you should always be building your brand from a strategic position.
The top pieces of information you need to know when building a strong brand:
Who are your competitors and where do you fall within the competitive landscape?
Who is your target market and what is the outcome they want for their specific problem/need?
What are your core brand values and how do they connect with your target market?
What is your brand voice and how do you want people to feel when interacting with your brand?
What is your key messaging and/or is it connecting with your target market?
Knowing the answers to these questions is going to help you build an incredibly strong and memorable brand whether you’re just starting out or if you are rebranding.
How to know it’s time for a rebrand
If you’re considering a rebrand already, then chances are it’s a good idea because your intuition is telling you something’s off, but in case you’re worried you’re not address the right problem in your business, here are some telltale signs that it’s time to rebrand.
You don't stand out from competitors.
If you don’t stand out from your competitors, then your target audience doesn’t know how you’re different and/or the right choice for them. Even worse if your target audience confuses your brand with your competitors. That means if they don’t purchase right away, it is highly likely they won’t remember you vs. your competitor which will lead to lost sales.
Take some time to check out your competitors if you haven’t yet and see if you stand out from the crowd. I’m not just talking about your logo and brand colors either. This also includes the imagery you both use, the messaging your use, and your brand values. All of this should be different enough from your competition that you make a real impression on your target audience so they remember your brand and ultimately purchase from you.
You don't love your brand.
If you don’t love your brand, then it’s going to be very hard for you to sell what you have to sell because you’re not going to be confident in the way you connect with your target market. It’s kind of like showing up to a party severely underdressed. You feel a little self-conscious and uncomfortable because you don’t feel you look your best.
When you don’t love your brand, you don’t show up the same as you would if you’re feeling a little underdressed. You probably find yourself shrinking back into the crowd because of it and we definitely don’t want that for your brand so it may be time to give your brand a refresh!
You’re not making sales.
This is probably the biggest indicator and the most obvious. If you’re not making sales that means one of two things (or both):
You’re not attracting the right audience.
You’re messaging isn’t positioning you as the best option.
And both of these come down to your branding. It isn’t effectively communicating the value you bring to the table and if you find that you have to over-explain why people should purchase from you then your branding isn’t doing it’s job and it needs an overhaul.
You want to command a higher price point.
If you’re at a point in your business where you want to raise your prices, you need to make sure your brand aligns with that new price point. Your branding is supposed to do the heavy lifting for you. It communicates so much both visually and emotionally to your target market that if it’s doing it’s job right, your target market is already halfway sold before even reaching out to you.
If your brand looks DIY or cookie-cutter but you want to charge a premium, there’s going to be a disconnect for your target audience and you may see a decline in sales if you introduce this new pricing prior to evaluating whether or not you need to rebrand. If you want to charge more (especially a significant amount more), you most likely will need a rebrand.
You have a new target market or offering.
Connecting with and speaking to your target market should be at the forefront of your entire business. If you are shifting into a new demographic or you’re introducing a new offer, you need to filter your brand through the lens of whether or not you’ll resonate with this new audience or if your new offer will resonate with your existing audience.
If the answer is no to either of these questions, then you likely need to rebrand and reposition yourself so you will resonate with your new (or existing) target market.
Strategies you need to know before rebranding:
If you’re getting ready to rebrand, you need to do some market research and analysis to identify:
Competitor analysis & landscape
Your market positioning
These 3 pieces of information are going to tell you everything you need to know in how to most effectively connect with your target market so your branding will do the heavy lifting and making sales become easy peasy.
Want help with your brand strategy or market research?
My Strategy Intensives provide you with a complete brand and marketing strategy based on market research and analysis and your own business metrics.
My 60-minute sessions are great if you need help brainstorming or working through a specific challenge.
Not sure what you need but know you could use some support? Reach out and I’ll help guide you in the right direction (whether that’s working with me or not!)
