If you wondered lately what a rebrand actually means and how can it be useful, even profitable for your business then this post is for you.
A rebrand is the process of branding your business visually with a new, distinct style, both visually and in your copy. This translates into a new look (i.e. colors, fonts, photography, even a logo, new copy, etc.) that will better captivate your target market and help you attract more of the opportunities you want like collaborations, book deals, etc. through your marketing materials and on your website, resulting in more revenue for your business.
If it’s hard to tell whether you need a rebrand (even after this glorious definition hah) I am going to show you some cases where you might consider signing up for one. If your business fits one or more of these, you’ll definitely see greater profits and growth by rebranding!
1. You lack confidence
You created your brand/website a while ago, and it worked fine but your business evolved and you started to feel ashamed when showing it to others, maybe not showing it at all. So you want to spice it up to match your current level in business, but you are already spread thin and just don’t have the bandwidth to do it.
88% of people are less likely to return to a website after a bad experience. Yes, 88%!
Many small business owners don’t realize this, but their outdated/lower-quality websites are costing them money EVERY day. Potential clients who find coaching, consulting, and other service-based businesses online are making a snap judgment about you and the quality of your services, based on how your website looks. If it looks low quality and outdated, they’ll assume your services are low quality or your business just isn’t a serious one. But when it’s high quality and up to date, you’ll instantly make yourself more attractive to those clients who are happy to invest in expert help.
2. You want to accelerate your business growth
If you want your business to grow faster, a rebrand will benefit you.
Many coaches, consultants, and service providers rely on in-person events and referrals to support their growth. But it’s easy to reach a cap there because there are only so many events you can attend and so many referrals you can expect to get. Plus after a while, you might feel the need to reach more people in your area or even worldwide. Not to mention the potential threat of a lockdown (hello pandemic…) when in-person work is really hard to maintain.
In order to accelerate your business growth and avoid such setbacks, it’s crucial to leverage the online space with a brand that will help you attract more ideal clients and leads via a website that boosts your credibility. And don’t forget about the extra benefit – if you can come up with automation, the site itself could generate passive income while you are doing something else. Isn’t that great?!
3. You want to position yourself as a leader in your industry for more collaboration
One of the best ways to grow your audience and leader positioning is to collaborate with other like-minded entrepreneurs/business owners who can complement your services. If you are looking to grow your business in this way you must have a brand and website that is speaking to the right audience (so the potential partner will see how you can support them during your collaboration), and you need the right aesthetics to make it attractive to those who follow that business.
When you want to get more collaborative engagements, it’s crucial to position yourself as an expert on your website, hence why a rebrand is the best choice you can do. You’ll see more responses from potential partners and you’ll probably even have more people contacting you!
4. You want to increase your prices
Every small business owner reaches that point where they’ve gotten a lot of experience under their belt and they have several success stories, and they’re ready to raise their rates!
When you’re raising your rates, you’re putting yourself in the premium services category, so it’s crucial that your brand looks like a premium brand and you provide a premium experience.
No one is going to want to pay premium rates for a business that looks like a beginner or that lacks the right systems built into the website for a premium experience.
5. You want more free time for yourself (family, friends,spouse, etc)
There is a time at every service-based business owner’s life when they feel like they hit a plateau. They realize that the business doesn’t work without them and if they don’t work (hello overwhelm, stress, exhaustion, or any emergency) the business just doesn’t stay afloat.
So they start to think about how they can generate passive income, something that could support them and give them the freedom to take some time off – or just breathe. As mentioned in point 2. This is good also for accelerating your business growth, however, if you don’t have the right brand in place or the right system, you might do more harm than without it.
You can have the most amazing automatic funnel set up, the best evergreen program, a course on the market, or a promising online product – if you don’t have the brand and website that supports this there is no point in doing all of it because it will simply look cheap. Setting your business up for passive income requires a lot of work up-front, but you can make it easier by having a clear brand and nice aesthetics that can support your newly set automation + it will give you the extra benefit of time once their set properly.