Many companies hear the term “rebrand” and automatically assume it means they need a new logo. Often a rebrand may include a revised logo, but for a company to truly rebrand their organization they must define their brand position. Through an in-depth look at the entire organization, rebranding from a positioning standpoint helps you uncover what your company offers, what your competitors offer, and how you differentiate yourself within the market. This process ultimately helps you establish your brand position, which serves as your guide for all of your marketing decisions. It sets you apart from your competitors and essentially determines how you want to be perceived in your market. It makes your job easier by helping you make decisions faster, because anything that doesn’t support your brand position can be quickly discarded.
What do you do if rebranding just isn’t an option right now? Whether it’s not the right time or you’ve already allocated your marketing dollars, you can still increase your sales and market share. You can still determine what sets you apart from your competitors until the time is right for that rebrand.
The most useful way to differentiate yourself from your competitors is to find out what keeps your customers up at night. Once you determine their challenges, start creating content that solves their problems. Doing so establishes trust among your customers, and when they trust you they go out of their way to support you. They’ll be eagerly awaiting that next blog, monthly newsletter or social media video because they now view you as the expert, their trusted resource. You’ll start seeing an increase in sales and market share simply because your customers have become brand ambassadors, viewing you as the industry thought leader and ensuring others do too.
The way you choose to solve those problems is what will differentiate you from your competitors. Not only are you doing it differently than they are, but in many instances you’ll be the only one doing it at all, and customers will definitely take notice. When considering you or your competitor, customers will choose you because they now understand what makes you different.
So until the time is right to go through that very beneficial process of rebranding and ultimately determining your true brand position, work on solving problems for your existing and potential customers. The sooner you do the sooner you’ll see those sales numbers rise and your market share increase.
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