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LETS GET DOWN TO BUSINESS.

Question :
Is now a good time time to rebrand? We currently dont have any social media presence or advertise at all (waiting on rebrand) but now with Covid-19 worried that its not the right time. Can you provide please provide any insight on launching a new brand and advertising within current climate and what approach and tone should we take when many business/people are in a bad way. We are a telco in the SME space. Many thanks.

Question submitted 28/04/20 @ 10:28am
Industry: Brand & Marketing
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  • Morena.
    The only time better than today is yesterday!

    When you say waiting on a rebrand I’m not sure what you mean…but there are a lot of low cost alternatives such as Fiverr or even better support one of the other graphic design businesses posting on Manaaki.oi and be part of stimulating the economy as a community. Ensure you are clear on the customer proposition and the problem you are trying to solve. Lots of other good posts under brand and marketing about processes for arriving at that clarity.

    Why advertise now? More eyeballs than ever on social and digital media, and lots of companies looking for solutions. In the current environment, what problem can you solve? Good luck.

    Now is as good a time as any to rebrand. In fact, it’s a great time because you are probably not so distracted by the day-to-day business of commuting, going to meetings, and all that other ‘normal’ stuff. Before you choose a name or design a logo, I suggest you do a lean canvas exercise and identify the problem(s) that your organisation is solving, who you want to work for, and what your unique value proposition is. Over the last couple of weeks I have been running workshops for Hawke’s Bay businesses along these lines and the lean canvas is a very powerful way to distill your thinking and capture some testable hypotheses before you spend real money on designers and marketing. If you do it with discipline, energy, and imagination you will be amazed at the results.

    Here’s a good intro to the process: https://blog.leanstack.com/what-is-the-right-fill-order-for-a-lean-canvas-f8071d0c6c8c

    Good luck and stay safe.

    Cheers
    Matt

    The answer is it depends. Right now I personally would be investing in marketing activity that is strategic. It seems that you don’t/can’t advertise because you were waiting on the rebrand. So you are stuck.

    If you believe in the product/service that you have. If you have a point of difference and are needed in the market. And you have the budget to do the rebrand then I think you need to do it.

    Lastly if your product can help people, help businesses then you need to be positive and move ahead. Most people expect brands and businesses to keep advertising. It’s what you’re saying and how you’re saying it that is critical

    Hi, its not a simple yes or no answer and we probably need further detail on your current brand, market position, customer base and USP etc etc. I am happy to talk to you directly and in confidence. What I can say is that, as important as we think our brands are in the minds of customers, any given brand occupies only a small part of our customers mind set. Right now, if your brand is not a vital part of your customers need set I would refrain from any change in branding as the messaging will be lost.

    If there is a compelling reason to consider a re brand, use this time wisely to completely understand what the new brand will bring to your existing customer and potential customers. Hopefully you have in-depth research that is guiding your strategy. If not make that investment to ensure you get the rebrand right when it is time to make the change.

    Happy to have a chat
    James

    Strong advise:
    1. If you don’t have a marketing or business strategy that makes the case for a rebrand (say the business is underperforming because the brand is attracting the wrong customers – or you want to appeal to a different segment of the market) – DO NOT WASTE TIME AND MONEY REBRANDING!!!
    2. Rebranding has many elements – from customer value proposition design – to actual design and identity – to marketing. Pick which area will have the highest yield for you.
    3. At first work with marketers that are marketers – not designers, brand consultants, etc. Find someone who can get the strategy and position right, that can create CVPs that drive revenue – then go to the makers and builders.
    4. As far as launching a new brand in the current market, one would have to argue the timing is great. Media costs are down, down, down – you provide an essential service – consumers are re-evaluating all spending so you have a chance to play there. But to really answer your question is real work for a marketer to build the plan, budget and model.

    Considering you don’t have any presence on social media yet, I can’t see it being a problem to rebrand now as there is no risk of confusing your customer with the change. I think the bigger question is in these uncertain times can you afford an entire rebrand. Don’t be afraid to pay just for your basic brand elements and your logo to get something out there, and pay for the fancier stuff later. The sooner you get some presence on social media the sooner you’ll reach your customer. Go for it, just don’t worry about perfect.

    Some great advice. It would be really helpful to know a bit more about your business and your objectives. What are you trying to achieve with your brand? How much brand recognition do you have in your existing brand? How much organic ranking do you have on Google with your existing brand? Is your re-brand extend through to a name change? Or is it just about changing the look and feel of the brand? Why do you think there is benefit in changing?

    When you say, launch a new brand, it sounds like you are thinking about a name change? If you already have good organic search traffic, you will likely lose traffic for some time until you rebuild it with the new name. Can your business cope with being searchable in the current environment?

    Perhaps let us know a bit more and we can provide further thoughts.

    Thanks

    We have the logo, identity values etc ready. Its just about commiting to the last push and telling people about us. There has been so much talk about tone, messaging and businesses not doing the hard sell in this environment that I was concerned about our timing and didnt want to be tone deaf to those in bad shape. We have NO organic traffic at all but have managed to build a business in 3 years with over 1m rev as of 31 March 2020 with nothing but word of mouth/referrals.

    Thanks for the replies. Its given me the confidence to move ahead (and get a real marketer to help build a solid plan)

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