A strategic and intentional rebrand can do wonders for your business – from attracting your right audience to increased customer loyalty. Here’s our list of 7 benefits that make rebranding absolutely worth it.
In 2014, I ran the Twin Cities Marathon. Nearly 10 years later, I still have two very distinct memories.
The first: At mile 15.5, I stopped on the sidelines to check in with my parents and I said, “I am so, so ready for this to be over. I’m in pain. It’s not fun. I’m over it. I want to be done.”
The second: Rounding the corner of the street at mile 26, right at the top of Cathedral Hill, looking down at the finish line. I still get a smile on my face every time I think about that heavenly view – crowds lining each side of the street, music blaring, the end in sight. And the realization that the last 26 miles (and eight months of training) were absolutely, 100% worth it.
How does this tie into rebranding?
There’s a story that seems to bubble up when the thought of rebranding starts to enter into the business conversations and takes some form of, “It just seems like a lot of work.”
Well, spoiler alert. It is a lot of work.
But.
But that’s not where the story ends. It’s not the hard stop of the conversation.
Yes, rebranding a business is a big decision and it does require an investment of time, energy, and resources.
But the benefits are the reason why you go through the process in the first place. That’s what makes the effort and investment worthwhile.
And that’s precisely what we’ll chat about today – our top 7 benefits that make rebranding your business absolutely worth it.
IN THIS ARTICLE
>> What is rebranding?
>> Top 7 benefits of rebranding your business
>> Key takeaways
What is rebranding?
Here at Witt and Company, we define brand as the perception someone has of your business – how they think, feel, and act in regard to your company and the experience it provides.
Given this, a rebrand is intentionally changing the perception – the thoughts, feelings, and actions – of your business. More often than not, this is done by updating the brand’s strategy, message and visual identity.
Benefits of rebranding
Since your brand is arguably one of the most valuable assets of your business, it’s kind of a big deal when the idea of ‘rebranding’ enters into the conversation. You’re talking about changing the heart and soul of your company – so it’s natural to have hesitation or feel overwhelmed.
But.
But there are a whole host of reasons why rebranding is a *good* decision that can bring enormous benefits to your business, now and for the long haul.
Benefit 01: Attract your right audience
A common catalyst for starting the rebranding conversation usually centers around the fact that you aren’t currently bringing in your right audience, or you’ve intentionally decided to pivot and know that you need an update in order to attract that new market.
And that brings us to benefit number one of rebranding:
Intentionally attracting and connecting with a specific audience.
From the competitor research to positioning to logo design to color selection, each step of the rebranding process is designed to help you create an entire brand experience that is aligned with who you want to engage and work with.
Benefit 02: Confidence in premium pricing
As humans, it’s common for us to pay extra for what we perceive to be more valuable. And, a good part of that perception is influenced by the brand. Yes, the service or product needs to also meet expectations, but the brand plays a significant role in creating a certain perception of quality.
Enter, benefit number two:
A rebrand can give you a system of tools to confidently charge a higher price.
When your brand is duct-taped together, lacks cohesion or provides an inconsistent experience, it can be challenging to feel confident in the value that you’re bringing to the table. And, it can negatively influence the perception that a potential customer has of the value that you are able to provide.
The rebranding process is meant to redefine or reiterate that value and then pull together all the tools needed to create a consistent and cohesive experience that enhances the overall brand perception.
Benefit 03: Differentiate from others in your space
As you grow and evolve, it can be even more apparent the challenges that come with differentiating your business from others in the same space. As the business owner, we’re heads-down in our work so often it can be hard to see the forest through the trees. And sometimes, what made you different when your business first started is no longer what you want to be known for or is no longer your main key differentiator in your space.
Benefit three is that rebranding will help you realign on what your key differentiators are and help you communicate them with ease to your right market.
You know the importance of standing out but it’s often not enough to just throw out a few reasons why you’re different. The rebranding process is about defining what makes you unique as a brand and then creating an entire system that supports communicating that uniqueness with clarity and consistency.
Benefit 04: Bring more ease to marketing efforts
Marketing is persuading someone to take action – said by one of my favorite marketers, Seth Godin. And the ability to effectively do that job is heavily influenced by the brand, more specifically, the available tools and elements within the brand.
If you aren’t sure what your brand is all about or if it feels tired and stale, or if you don’t know how to clearly talk about the amazing work you do, marketing can feel like the world’s biggest challenge.
Rebranding benefit number four: bring clarity to your marketing so you can execute with ease and confidence.
Because the process is about realigning with key brand elements like your purpose, vision, mission, message, and value, a rebrand is such a great opportunity to breathe new life into your marketing efforts. Not just in what you’re saying but also the look and feel of how it’s being communicated.
When you have a new plan for communication, a redesigned website, updated business cards or fresh social media templates, it can help facilitate a renewed sense of purpose and intention to your sales and marketing efforts.
Additionally, when you have more clarity around your right audience and your positioning strategy, you can focus your marketing activities a lot more effectively.
Benefit 05: Realign current (and future) team
Growing a dedicated and invested team is at the heart of my conversations with business owners – we want our team members to equally do great work and enjoy the work that they’re doing.
Ambiguity, inconsistency or a lack of clarity around key brand elements can be a strong point of frustration that holds back team growth and momentum.
Benefit number five of rebranding is the ability to realign on the brand’s direction, foster community and cultivate a sense of belonging within the current and future team.
Internal brand elements like your purpose, vision, mission and values provide a great roadmap for communicating what your brand is all about, what it stands for and where it’s going. This level of clarity is a great litmus test for deciding whether or not someone will be a good fit for your brand. And, attracting people who align with those values from the start.
Additionally, when you have consistent guidelines for how the brand is to be communicated, it allows those specific team members to positively contribute to the business goals because they’re clear on expectations for brand communication.
Benefit 06: Improving your business’s overall perception
Your brand’s words, visuals and engagement style all work together to influence how someone perceives your brand. And the goal as a business owner is to have each element at each touch point support the desired perception, and tell the same story.
Since the main purpose of having a brand is to influence perception, it makes sense that a key benefit of rebranding is intentionally shifting and thus improving your business’s overall perception.
Prior to embarking on a rebrand, there’s often a gap between how the business is currently being viewed and what you really want the business to be known for. One of the goals of rebranding is to close that gap and positively influence how the market perceives your business.
Because when we positively influence the market’s perception, it then has a domino effect of positively influencing customer behavior, which can then positively impact your overall business performance.
Benefit 07: Build a stronger connection with your market
In Brené Brown’s book, Atlas of the Heart, she defines connection as the energy that exists between people when they feel seen, heard and valued.
While this definition is centered on connection between people, I’m going to make the argument that as long as your brand interacts with humans, feelings (and specifically, feeling connected) play an integral part in your business journey that cannot be ignored.
In my opinion, the most important benefit of going through a rebrand is that it fosters a stronger connection with your right audience.
This happens because of the work that’s done throughout the process – of getting clear on who you’re a great fit for, of defining the role your brand plays in the minds of your market, of defining your purpose, vision and values, of creating clear guidelines for tone of voice and engagement style. All these elements bring human characteristics to your brand which then cultivates connection with your audience.
And intentional, authentic connection is what truly supports your business in furthering your impact, your purpose and your mission.
Key takeaways
Given this, we’re pretty confident in our *slightly* biased viewpoint – going through the rebrand process can be one of the best decisions you can make as a business owner. Especially if you’re in the midst of a stagnation, lack of momentum or just the general, “What the hell are we even doing?!” season of business.
Yes, there can be a lot of questions floating through your mind but that’s why it’s so important to choose the right brand partner to support you in the process.
Enter our shameless plug: if you’re in the midst of considering a rebrand for your business, let’s connect and see if Witt and Company is a good fit for your rebranding needs.
With that, happy rebranding! 🙂
All my best,
Additional brand resources
This post explores the basics of what rebranding is in business and the high-level process for how it’s done.
Read through the top five most common brand myths and misconceptions that may be holding you back from reaching your next level in business.
Learn the importance of leveraging feelings and emotion in building your brand so you can effectively connect with your right audience in this post.
Understand the difference between branding and marketing in this post so you can utilize them together to be even more effective in business.
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