Out With The Old, In With The New: Rebrand Your Business For Success by Forbes – Entrepreneurs

“Out With The Old, In With The New: Rebrand Your Business For Success” | Written By: Alison Coleman, Contributor / Forbes – Entrepreneurs

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Flawsome! founders Maciek Kacprzyk and Karina Sudenyte

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Your brand is the face and voice of your company, and when the two are no longer aligned and your business has effectively outgrown its image, it’s time for a rebrand.

Businesses rebrand for a variety of reasons, from changing consumer trends to expansion into new overseas markets. Or it could just be that you aren’t standing out from your competitors, as was the case for misshapen-veg drinks startup Get Wonky.

It resonated with the current consumer trends for sustainable food and drinks, by recycling fruit and veg destined for the trash, but Get Wonky failed to stand out in a marketplace dominated by bigger brands. Founders Maciek Kacprzyk and Karina Sudenyte called in brand design agency Coley Porter Bell to turn things around with a rebrand.

Sudenyte says: “In a market where so many competitors were also claiming their products were wonky on their packaging we lacked brand distinctiveness. We weren’t getting our message out around tackling the global waste problem, and also that people, like fruit and veg, should embrace their flaws.”

As Coley Porter Bell CEO Vicky Bullen explains, the problem for brands like Get Wonky is often less to do with the product quality and philosophy behind it, and more to do with poorly conveying its unique selling point and brand purpose through its name and design.

She says: “We helped the business establish precisely what these should be. It is about more than just saving food; it should be encouraging people to imagine what they can do with wasted food and championing individuality over perfection.”

They also looked at the brand’s name and visual assets. “The name was inherently negative, when in fact the product contains perfectly good food that incorrectly suggested it was inferior or flawed,” says Bullen.

The business, renamed Flawsome!, is now achieving 500% year-on-year growth, and will soon be appearing on supermarket shelves with a new version of its product range.

Some companies simply outgrow their brand image. Online homeware boutique Audenza, originally named MiaFleur, was founded by director Hollie Brooks, her mother Jacqui, and sister Amelia in 2012. Launched as a kitchen table startup, it sold upcycled vintage furniture. But as the product range evolved at pace, the brand began to evolve beyond its original name, and in 2017 it was time for a rebrand.

Brooks explains: “Our previous branding was vintage-inspired, reflecting the original aesthetic of the company. The brief for the new look was to create something refined that transcends trends, and lets the products do the talking.”

Audenza’s rebrand ‘lets the products do the talking’

Audenza

The founders brought in a branding consultant, graphic designer and web developer, while they spent months researching potential names, finally choosing Audenza, derived from Latin and meaning to be audacious, daring, and bold.

The entire rebrand took nine months, and cost around £11,000 ($14,000), and there were some challenges, not least the impact of a new company name on its Google ranking.

“Around 35% of our revenue comes from Google organic traffic, so this was detrimental to our business for a couple of months,” says Brooks. “Fortunately, we were prepared and did everything we could to get our ranking back up, as quickly as possible.”

Average order values increased by 30% in 2018 following the rebrand, while revenue rose by 75%. One of the biggest benefits of the rebrand has been the expansion of Audenza’s range of ‘quirky’ products.

“Previously there was a disconnect between the brand and our product range, so customers were perhaps not as inclined to trust our more ‘way-out’ product choices,” says Brooks. “Now our best-selling lines are some of our most unique and unusual designs.”

When merchant services provider Yorkshire Payments rebranded it helped forge closer links with its West Yorkshire location. Founded in 2013 by managing director James Howard, the company underwent an early rebrand, with a trading name change, from Direct Card Solutions to Yorkshire Payments, in 2014.

Howard says: “After starting the business, I soon discovered that Yorkshire has a unique heritage and that the people who live here are extremely proud. A mundane business name would prevent us tapping into that heritage commercially.”

The move was a success, and the company grew rapidly. By 2018 it was turning over £2million, and aims to double that next year. Last month the business relocated from an out of town business park back on to Brighouse high street, at the heart of its hometown. To support the move the business underwent a second rebranding exercise, retaining the business name but tapping further into the Yorkshire connection.

Howard says. “We’ve incorporated the Yorkshire rose into the signature blue of our new logo and updated our font to emphasize our ‘straight-talking card solutions’ tag line.”

Working with a local branding agency the rebrand, including the office move, took just over a year and an investment of almost £300,000 ($336,000). Commercially, it has been a huge success. Yorkshire Payments recently achieved a major milestone by processing more than half a billion pounds in transactions, and in the last 12 months alone 500 new businesses have been added to its client base, a number that continues to grow every week.

What’s in a name?

Choosing the best brand name in the first place can help to avoid the confusion, hassle, and cost of having to rebrand later. Ross Kimbarovksy, CEO of crowdspring, offers four tips on choosing a winning company name.

1. Make sure your company name reflects your brand

“Your company’s name is an important part of your company’s brand identity,” he says. “What does your company do? What does it stand for? What is your brand’s personality, for example, is it quirky, solemn, formal, playful, aggressive, warm?”

2. Make the name easy to pronounce and spell

Word-of-mouth marketing is a highly effective form of marketing, but if people can’t easily pronounce or spell your company’s name they’ll have a tough time telling others about it or finding it online.

3. Avoid names that are too narrow or too broad

Choose a name that is unique, but flexible enough to allow your business room to grow. Kimbarovksy says: “Avoid names that are linked to specific technologies that can become outdated, names with a focus so narrow that they preclude future evolution, for example, ‘Justin’s Cabinets’, and geographical references that can make your business seem irrelevant in a broader market, for example, Chicago Gift Baskets.

4. Don’t forget to differentiate

Your business name should help your brand stand out from your competitors, so get to know who they are, and then choose a name that can’t be confused with theirs.


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“Out With The Old, In With The New: Rebrand Your Business For Success” | Written By: Alison Coleman, Contributor / Forbes – Entrepreneurs
October 10, 2019 at 01:10PM
VIEW ARTICLE ON Forbes – Entrepreneurs >> https://www.forbes.com/sites/alisoncoleman/2019/10/08/out-with-the-old-in-with-the-new-rebrand-your-business-for-success/

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