Rebranding can be a risky business. Get it wrong and you can damage client loyalty. But get it right and you will stand out from the other financial services competition.
It’s understandable that financial practices are hesitant to make changes to their look and feel. But subscribing to the ‘it ain’t broke, don’t fix it’ school of thought will often leave you behind the times along with the dinosaurs.
Why should you rebrand?
Well, financial professionals are living, breathing entities that change shape and shift according to the industry and external factors. What worked when you launched five years ago might no longer be relevant to your new and existing clients. Clients also increasingly expect more from brands. They expect you to have a personality and to be available 24/7. Fail to tell your story behind your brand and you are less likely to connect with them.
A successful rebranding campaign requires more than a renewed logo. Instead it requires an inspirational vision that portrays a new image your clients can relate to. Not only should the rebranding process be a great opportunity for employee engagement but also a useful tool to revisit your client service proposition, what you stand for and, more importantly, what you don’t.
So if you feel that your brand is looking tired, why not test the waters first with your clients’ opinions? Get it right and you will wish you had done it sooner.
Is it time for rebranding?
Paul Bearman, Senior Editor, Goldmine Media