Rebranding Your Small Business

In an effort to curb the negative opinion many people have today of banks (in the wake of the mortgage mess), several financial institutions are now changing the face of their companies. They’re hoping a new brand identity will ease the negative public perception people have on the industry and induce some much-needed optimism. To put it plainly, as reported in The New York Times, many banks are now hoping, “Can’t we all just move on?”

When is it a good idea for you to change the brand identity and public image of your company? Perhaps you’ve had troubles with customer service? Quite possibly you may simply think your customers are bored and you’re ready to spice things up and get noticed. Or maybe there was a deeper scandal that scarred your company and you want to put all that behind you? Whatever the case may be, if there is a large pool of negativity surrounding your company, or if you’re truly ready to reinvent your company, you’ll want to consider refreshening your brand and moving forward. Here’s a great reference for branding: The 22 Immutable Laws of Branding

But don’t forget one tiny little detail. You can only move forward with a successful re-launch of your business if, of course, you’ve taken the necessary steps to correct the business problems that caused all of the negativity in the first place. Always remember the number one element of a successful rebranding effort is to make the required adjustments so that your company refocuses and recommits to its customers.

A lot goes into a rebranding effort. As Beverly Macy points out in her blog, rebranding entails everything from changes to the logo, brand name, image, marketing strategy and advertising. I’ll go a step further and say even PR has a big role in the rebranding effort. After all, once you’ve made the changes - internally and externally - you must communicate your new brand to the world. Even the Republican Party has talked about doing a rebranding effort following the 2008 Presidential Election.

For a small business, everything must be taken into account with no detail left behind. Think of everyplace your brand image is front and center. Signage, advertisements, collateral, business cards, email marketing, Web site, product packaging, newsletters, etc. Everything must change to coincide with your new brand. Marble Slab Creamery underwent a massive rebranding effort recently and dealt with all of these issues.

But remember, a lot goes into a brand. It’s not just the face of your company. It’s the fabric of your company. It’s all the intangibles people walk away with after they’ve shopped with you (or attempted to shop with you). It’s the “off-the-record” conversation people have with their friends when they ask if they’ve used your company. That’s your brand. If you undergo a rebranding effort, keep this in mind.

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