It's a new year and maybe it's time for a new you—and by "you," we mean your business. In fact, data shows that 75% of businesses have undergone some rebranding since 2020...that's A LOT!
All indications point to this year being another year of change as businesses of all sizes seek to redefine, reestablish, rename, rebuild, and more.
Communicating your brand to customers is hard. Having your salespeople communicate your brand differences to prospective customers is even harder. A new website, new company branding, and product positioning are all part of a rebrand—and that's a lot to bite off all at once. You want to make sure that your hard work pays off in spades. We've been through a few re-brands ourselves, and have learned some critical lessons along the way that we're happy to share.
Know The Reason
A lot goes into a rebrand—there's time, energy, money, and resources so it shouldn't be taken lightly. Often, it may be that your business wants to evolve or shift to drive growth—whether to broaden your scope or appeal, reposition in your current market, or maybe even expand into a new area. Regardless of the reason, keep it top of mind!
Classify Your Audience
This may sound simple but it isn’t. Everyone within your company has an opinion of what the direction should be. Instead, think about who you want to work with, how your target market will benefit—define your brand and what you do. In the end, the one thing that truly matters is the outcome you provide to your clients.
Research + Get Opinions From Outsiders
One of the smartest things to do is to get to know your audience—how they use your products and services, and what adds value. Look at other similar companies and bring in outside expertise to help shape your direction. Even if your company is already good at marketing, taking a step back to analyze your position in a dynamic market objectively is important. Deliver your brand in a personable way to draw in your audience.
Drive, Drive, Drive
A company rebranding and product repositioning project is complex—and long. So complex that it can easily stall. That’s why strong leadership that drives the project to completion is essential to keep tasks on track and hold all parties accountable.
Be True To The Mission Of Your Brand
Be sure to remain loyal to what you want for your business, and what it means to you—and in turn, your customers. Authenticity and consistency is critical. After all, these customers are putting their faith in your brand.
Make sure your new brand reflects who you are, and why you're here. For example our brand, Modus exists to create meaningful engagements between sellers and buyers—and to help bridge the gap between marketing and sales.
Craft Your Own Story
You want to create a story that connects your ideal customer profile and target audience to your brand message. Tell the world all about your brand—what it does and why they should care. Don't be afraid to share your company's background, its purpose and core values. With so much technology in our world, people are craving authenticity and humanization.
Here's the Modus story, as an example:
We saw the challenge that a group of marketers, at a handful manufacturing and med device companies were experiencing, with complex global sales. They had a need for content and revenue enablement, and wanted tools designed specifically to help them organize, share, and track rich content—so they could sell more.
If you work in one of these industries, you likely feel their pain. Manufacturing is often an afterthought for revenue enablement technology companies. But not for Modus—we're passionate about this customer segment, and we deliver solutions to help manufacturers (and other businesses like medical devices, and more) create meaningful engagements with their prospects and customers and to help them drive revenue.
But enough about us. The point is that you want to know your own brand story and share it widely. We know...easier said than done, right? So, how do you get your internal audience on board and sharing externally too?
Share Your Story
As we already stated, there are aggressive goals for company rebrands. You've made the investment, and you want to ensure you maximize your ROI. You need buy-in from the top down—and it's imperative that your teams (especially your revenue teams!) understand the nuances of the brand, and how to communicate it.
Ensure you have an easy to use, intuitive platform in place that can make your content come to life for your teams. Carousels and banners that share the new branding with the story behind it, grab attention and give end-users an easy way to digest, absorb and share the new branding information. And anytime, anywhere access—whether on or offline is key too.
Your content enablement platform should also deliver quality analytics so your marketing and leadership teams can see what's most effective, most accessed and most shared. They can use this data to update, replace or create more of what's working—on the fly and across the entire organization.
Bottom line: Rebrands are a lot of work. But a successful company rebrand can reignite your business, and bring in new customers and new revenue when done right. And that's something we all need!