The other day, we met with a potential client who wanted to look at rebranding a web product that he had developed. After talking to him for a minute, it became clear why he wanted to rebrand—he hadn’t added a new client in over a year. Now, it was a small company and he handled all the ownership duties, sales duties, marketing duties, onboarding duties, etc. Yet, still, there had been no ability to land a single client over the previous year.
At some point, when you have been in the lonely outfield of no clients over a certain time or the new client list is coming up a little short, would rebranding be the right answer for you and your company? Would a new “brand” help to pick up sales? I would postulate that the answer is, well, probably not. But, if you answer “yes” to any of the following questions, then a rebrand could very well be a solution. So, let’s dig into it.
1. Is there a competitor who has been picking up steam in your market and picking off some of your clients?
2. Do both you and your competitor have the exact same message, value proposition, and/or position? Do you feel like you are twins?
3. Has your direct web traffic decreased over the last year or two because people aren’t as interested in finding you by name?
4. Do you feel that what you have are offering is boring, stale or tired?
5. Has your cost of acquiring a customer gone up exponentially?
6. Is there confusion surrounding the voice your company uses to teach, sell, and discuss your product?
Why would saying “yes” to these mean you need a new brand? Remember, your logo isn’t your brand. Your brand is what your employees are saying about you. Or sometimes, what your potential customers are saying about you. And if what the internal folks, such as employees, say about your brand isn’t unique enough, then you don’t have a brand voice strong enough to sell at a high rate. The marketplace is a lot like the basketball. There is elbowing, position changing, and defensive boxing. If a rebound comes down, there is very little you can do against someone who has effectively positioned themselves better than you. The customer is theirs.
So, what is the point of all those questions? If your positioning isn’t smart and strategic enough to get you ready to land clients, who are ready for your services, they will go somewhere else.