Think it through!
Sometimes when business isn’t going as well as planned, it pays to consider changing your image. Making your business seem fresh in the public eye can be huge for attracting new customers.
The important thing to remember when trying this approach however, is to not let down your current customers. They are after all the ones keeping you in business in the first place.
If you choose to rebrand, make sure to include their best interests unless you are prepared to lose them. It’s one thing if you can afford to start over again from scratch, but unfortunately, many small business owners do not have this luxury.
Erik Johnels at the Weakest Link has some great advice in a post called Re-Branding 101 – Changing Your Image.
Jessica Seid at CNNMoney once cited the following 7 mistakes that people often make when trying to re-brand:
1. Clinging to History
2. Thinking the brand is limited to the logo, stationery and corporate colors
3. Navigating without a plan
4. Not leveraging existing brand equity and goodwill
5. Not walking in your customer’s shoes
6. Believing rebranding costs too much
7. Bypassing the basics.
If rebranding is something you are considering, I urge you to read both of these articles before making any drastic changes. Don’t stop there either. This is a big step for your business and you should do as much research as possible before taking it. Look at other companies that have done it. Try to figure out what made them successful or caused them to fail.
Be sure it’s really what you want to do. Take it slow and consider expanding too. This can often lead to more success without losing the brand you have established.
By Chris Crum