BLOG

Low Conversion Rate? 6 Reasons How Rebranding Benefits Your Business.

Vani Sree

Aug 28 · 8 min read

What do you mean by ‘brand’? What comes to your mind when you think of it? Let me guess, logos, colors, and fonts, right? But it’s not just that. It’s the visual elements that most people think of as a brand. There’s more to it. Actually, a brand communicates with what your company does and how it serves the customers. It is the key strategy to establish trust and credibility with your potential prospects and customers.

Let’s get to the real questions. If you have good website traffic, why do you have a low conversion rate? Why does your website not generate sales? These can be due to your brand. If you think you have a good brand after spending lots of money, you may be wrong. In this article, we shall discuss how rebranding helps to reconstruct your business.

Before we start, let us understand what branding means and how it actually helps businesses.

What is Branding?

According to Dirk Knemeyer, a Brand represents the intellectual and emotional associations that people make with a company, product, or person. So, a brand is actually the gut feeling of a customer about the product or service that the company offers. It represents the sum of people’s perception of a company’s customer service, reputation, advertising, and logo. When all of these parts of the business are working well together, the overall brand tends to be healthy.

To be more simple, a brand speaks about how the consumers feel about a product/service. According to Jeff Bezos, “Your brand is what people say about you when you are not in the room. For example, I love Uber App because it’s so easy to book cabs and I don’t ever run out of change as it has a cashless transaction option.

What does it tell you about the app? Now you know the app is user-friendly and it has got some useful, additional features. But, did you know branding is a crucial part of a business?
Most entrepreneurs think of branding as the last element of the business. But it should be considered first as a brand leaves an emotional impact on the consumer. That leaves an overall impact on the company.

Branding doesn’t end once the visual elements such as logo, fonts, and colors are set. It is a continuous process as the market, people and products keep changing over time.

According to several studies, 81% of consumers said that they need to be able to trust the brand to buy from them.

For example, when I say Nike, what comes to your mind?

The iconic swoosh logo. Even without representing Nike’s name, the brand can be understood and eventually you end up buying them. The brand automatically brings trust to you. That’s how powerful a brand can be when it’s done right and executed properly.

But have you ever wondered what makes a brand good? It is about the promise, values, personality, and story the brand showcases. How can this affect the overall performance?

Let me explain how branding typically helps businesses to grow.

Firstly, Branding helps to improve recognition or build awareness of your company by distinguishing it from your competitors.
Secondly, It helps to create trust from the customers by leaving a positive impression on both controllable and uncontrollable factors about your business.
It is also the best marketing collateral for targeting audiences for generating leads. This means that your brand is the first choice when looking for the products or services that you offer.
Finally, an uncommon advantage of branding is that it inspires the employees. When the employees understand the objectives of the company, they are more likely to feel the same pride and will work in the same direction as the goals of the business owner. It’s like everybody joining a cult or a party.

Most of us might already have a website or a brand. But it’s high time if we don’t realize it’s taking your business down, then regret it later. Don’t worry. It’s not too late. You just need a rebrand!

A good brand must adapt to the environment and should evolve over time. Even the most successful companies like Pepsi, Google, etc. change their brand over several years. Let’s now understand how rebranding helps different businesses.

Before that, let us understand what rebranding is.

What is Rebranding?

Rebranding is the reshaping, remodeling, and recreating of your business trademark and brand identity. In-depth, Rebranding is the process of reshaping how a company or product is recognized. It can be the recreation of everything from your brand’s name and tagline to your logo or visual identity to your website and other marketing collateral.

Rebranding is a good way for any business to stimulate growth, expand, increase profits, strengthen the workforce, and gain a competitive advantage.

But the question is how do we know when is the right time to rebrand?
The answer is simple. If your brand isn’t inspiring customers or building awareness, it might be time to rebrand. And you just need a rebranding strategy.

Business Rebrand Vs Website Redesign

There are basically two ways to rebrand your business: Business Rebrand and Website Redesign. When a business decides to rebrand itself, it usually changes the way it represents itself to the public through every channel. That includes not just the website.

A Business Rebrand impacts the design of the brand such as logo, color palette, typography, photography, icons, etc. as well as the brand promise, that is the message of the brand like company name, value proposition, slogan, content, voice, and tone, etc. to position itself in the competitive market.

A Website Redesign, on the other hand, is more than just a new look. It has to be rewritten, redesigned and developed to help your business attain its specific goals. The most important business priorities for website redesign may include driving more traffic into the website, increasing user engagement, and generating high-quality leads for your sales team.

Importance of UX in Rebranding

How does UX have an impact on rebranding? It’s totally unrelated, right? Well, that’s a lie.

Many consider UX and Brand Identity to be totally unrelated. But they are basically the two sides of the same coin. Brand Experience and User Experience should go hand-in-hand to engage and provide what’s needed for the customers.

Rebranding without considering UX is like fixing a broken phone with a new screen without replacing the display.

According to Dirk Knemeyer, Brand Experience is the strategic approach to compelling people to take productive action through the integrated, coordinated planning and execution of every possible interaction that they have with your company or company or products.

To be successful in branding, you must understand the needs and wants of your customers and prospects.

73% of consumers love a brand because of a good User Experience.

A UX designer understands the customer’s needs and wants through conducting extensive market research, identifying their current pain points, and developing a new, improved brand identity, by creating new marketing collateral. Design thinking is a connection between UX and Brand Identity.

How Rebranding Impact Your Business

Rebranding is a change in the entire brand philosophy and beliefs. There can be several reasons for a company to consider rebranding. But one of the prominent reasons for rebranding is to reconnect with customers. It is done for the customers as well as the investors, prospects, competitors, employees, etc. so that the new brand identity is created in their minds.

One of the prominent keys to remember when rebranding is to always put yourself in the shoes of the users.
A brand is after all the elements that emotionally connect with the users. To showcase your brand objectives, you need a good website.
It is essential to spend a good amount of time creating a user-friendly website.
Always be thoughtful about the navigation. There’s a high chance of potential customers leaving if the website is difficult to navigate. That being said, it is also equally important to prioritize loading time.

1 in 4 visitors would abandon a website that takes more than 4 seconds to load.

Let’s now look at some of the most powerful effects that rebranding could bring to a business.

1. Attracts New Customers

Rebranding helps to recreate a brand that is user-pleasing. Rebranding when done properly with a good UX/UI agency helps to improve customer retention and automatically the customers start taking repeated orders. When UX is mixed with brands, it leaves an impact on the customers. It also helps to target a prominent audience by reaching new customers.

2. Increases Engagement

A good rebrand helps to engage with customers more effectively. If the brand regularly engages with its customers by following its brand promises, they’re likely to do business with the brand. It also shows an emotional commitment to the rebrand. That will, in turn, help your business get word-of-mouth referrals.

3. Higher level of Satisfaction

If a customer is satisfied with your brand, he/she/they is more likely to give better reviews. Rebranding enhances loyalty, trust, and most importantly, credibility as a brand. Trust always pays you. They are also more likely to recommend it to their friends and family.

4. Adds Value To Your Business

Rebranding is generally known for adding value and goodwill to your business. People are more likely to pay more for a well-branded product than they are for something largely unbranded or poorly branded. If the customer repeatedly purchases from you, it only brings value in the long run. That’s why Tiffany & Co is so popular. More customers were inclined to the brand as it brought trust and value.

5. Different from your Competitors

Rebranding helps you to be different from your competitors. This creates a platform to be technologically advanced and helps to stay on current trends. According to Indra Nooyi, CEO of Pepsi, Rebranding helps to compete with the upcoming startups. Even popular brands fear the emergence of cutting-edge companies, especially start-ups. It also helps them to rank better in Google.

6. Reduces Internal Costs

A well-structured objective and vision for rebrand help your lower-level employees to sell your products/services more efficiently and manage teams more effectively. When business decisions are made properly, the managers improve business operations by hiring the right employees and managing them properly. This will more likely reduce internal costs.

Key takeaway

A good brand communicates with what your company does and how it serves the customers.
81% of consumers said that they need to be able to trust the brand to buy from them.
If your brand isn’t inspiring customers or building awareness, it might be time to rebrand.
Rebranding without considering UX is like fixing a broken phone with a new screen without replacing the display.
UX and brand Identity are basically the two sides of the same coin.
Rebranding helps the business to increase user engagement, attract new customers, higher level of satisfaction, add value to the business, be different from your competitors, and reduce internal costs.

If you are already running a business and planning to rebrand, what are you waiting for? Look for a good UX/UI agency like us and start building your brand again. And this time make sure to engage with your customers often.

Which factor is needed for your business right now? Let us know.