I help creative entrepreneurs achieve purposeful profits by using money, mindset & marketing strategies...
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In this blog post I share the benefits of re-branding your business.
In a world where things are always changing, your business needs to stay current.
Many companies make the mistake of holding onto their old brand long after it’s no longer effective. Your brand needs to be up to date in order to meet the changes in the market.
Like many companies, you may not have done your branding correctly to begin with.
It’s often hard when you first get started to fully grasp your customers and your unique position in the market.
As you start to grow, you may feel like you’re lacking a strong brand identity compared to major players in your niche, and now’s the time to develop one.
Companies often decide to re-brand in order to connect to a new audience.
In order to grow into a new segment of the market, your brand needs an update in order to focus on the needs of this new segment.
Since you’re reaching new customers, you need to reassess the needs your company meets so your branding can communicate this.
The competitive landscape might have changed.
If there are new players in the market, you might need to re-brand in order to show your audience how you’re different.
Re-branding can help you stay relevant against competitors that are growing. It’s a low-cost and relatively easy way to compete even if you don’t have the same resources.
Brushing up your brand makes your company more profitable.
Most companies find that they earn more after their re-branding. The process adds value to your business and makes you more attractive to investors.
Re-branding is a major step that takes considerable resources and effort.
Re-branding starts with clarifying your business’s vision and goals and performing a brand audit to determine how well your current branding is communicating your unique value to the market.
It’s a great way to reinvigorate your business and meet new challenges.
Join my business membership, the B.O.S.S Society, where I teach all the ways you can re-brand your business, implement effective branding strategies and learn how to create the right brand identity.
I also created a 6-Step Framework to help you implement a strategic branding plan for your business.
See you online!