Rebranding Isn’t Just for Big Fish

Rebranding a large organization such as a global corporation or a prominent regional medical center takes months, maybe even a year or more from the first meeting to the grand unveiling. And it can be costly, well into the hundreds of thousands before every sign, webpage and business card is replaced. If you are the owner of a small business, those two factors – time and money – can frighten even the most daring of souls away from rebranding. You have precious little time to devote to the rebranding process, and even less money to spend on it.

And that is exactly why you should consider rebranding.

Whether you own a half-dozen dry cleaning shops situated throughout the city, or one family-run storefront just off Main Street, business is increasingly more competitive, not less. Much of what you face today is beyond your control. Social media can become anti-social literally overnight. A couple of bad Yelp reviews and two decades of growth will hit a brick wall. A good reputation is difficult to build and a bad one – deserved or not – can be nearly impossible to repair.

Because every dollar a small business spends is a dollar less profit, a rebrand should be seen as a valuable opportunity. Rebranding gives you back some of that control you have lost.

Understand that rebranding does not necessarily mean starting from scratch. Start by determining how much time and money you can afford to invest. Then do the same thing you would do if your house needed painting – visit with two or three consultants and get their estimates. Is there a point where your numbers and theirs intersect? Go for it.

Then decide what is broken. Retain what works and work on what doesn’t. Update a logo rather than throw it away. Refresh a worn tagline. Brighten those webpages you designed yourself at 3 a.m. seven years ago. These fixes can be the difference between attracting 10 new customers and attracting a thousand – who eagerly take to Facebook to share your name with their friends.

A rebrand will not eliminate your competition but it will give you an edge. Imagine a beautiful lake. Two fishermen (or women) sit in identical boats only a few yards apart. They are using identical gear. Yet one is catching fish after fish, while for the other, only the mosquitoes are biting. Why? One isn’t a better fisherman. He or she simply has better bait.

You don’t need a yacht to catch a trout. And small businesses don’t need a million dollars to find new customers. Take an honest look at your brand. Is it still relevant today? If not, then it is time to blow off the dust and add some polish. Invest what you can and make every dollar work for you. Update your brand and employ a few innovative ways of placing it in front of people. Make them notice you. Let rebranding be your bait – and stop lamenting all the ones that got away.