At a time when competition for small businesses is getting tougher, rebranding can be a wise move to increase awareness and differentiate yourself from your competitors. Despite the high value of a well-executed rebrand, many small businesses avoid implementing it due to a lack of resources. However, with the right strategy and approach, you can carry out a successful rebrand on a budget.
Why rebranding is important
Rebranding is a process of reshaping and updating a company’s brand identity. This includes the logo, slogan, colours, fonts and corporate philosophy. It provides an opportunity to adjust to brand changes in the market, improve brand awareness, increase trust and attract new customers.
Evaluate your current brand
Before you decide to undertake a rebranding, it is important to understand what works and what doesn’t with your current brand. Analyse your existing brand attributes, your goal and what you want to express with your new brand. Then you can start creating a rebranding strategy that matches your goals and budget.
Be clear about why you are doing this
Before undertaking a major rebranding project, it’s important to be clear about why you’re doing it, which you probably already are. But you also need to be able to explain it to your employees and customers. It is important to involve your employees in the process. Explain why you are making the changes and what you hope to achieve. By engaging your employees in the process, you can create a stronger company culture.
Define your target audience
It is important to understand and define your target audience before starting the rebranding process. Look at your current customer segment and identify what attracts them. Your new design and marketing strategy should reflect the needs and desires of your customers.
Determine the goals of rebranding
Before you start the rebranding process, you need to clarify why your company’s brand needs an upgrade. Is it to attract new customers, increase sales or raise brand awareness? Whichever goal you choose, it needs to be specific and measurable, with a timeframe for measuring success.
Develop a unique brand identity on a budget
Building a unique brand identity can be expensive. With creativity and smart strategies, you can build a strong brand identity without breaking your budget. Forget expensive campaigns – instead, look to your competitors for inspiration, use social media to build relationships with your customers, and use Google Ads to get online without breaking the bank. By creating a memorable logo and a unique business name, you can stand out and make a strong impression on potential customers.
Create a strong tagline
A tagline is a short phrase that summarises your brand and what you stand for. A strong tagline can help set the right tone for your marketing campaign and help create a more memorable brand experience for your customers.
Optimise your website
Your business website is one of the most important tools you have to attract new customers and expand your business. A well-optimised website can help you improve your online visibility, increase your traffic and improve your conversion rate. But optimising your website can be complicated if you don’t have experience in web design and development. So use a web service like Wix, Squarespace or Shopify can help you create a professional and well-optimised website.
Plan for implementation
The implementation of your new brand identity is a critical part of your rebranding process. Develop a detailed plan, including all the communication channels you will use to reach out to customers and make your new brand identity stand out. When performing rebranding on a budget, you should plan for how you will measure success on your goals and create a timeline to implement your plan.
A rebranding process affects not only brand identity, but also customer relations, competitiveness and business growth. As a communications agency, we at Louder Family can help you navigate the entire rebranding process. We take into account your goals, budget and wishes to help you create a brand that stands out from the crowd and attracts the right audience. Contact us today to learn more about how we can help you rebrand on a budget!