If you’ve been with Indigo for a while, you may have noticed our logo update and website refresh. We may have a new look, but we are still offering the same great custom content solutions and personalized marketing strategies. In fact, we have even taken this time to expand our services into branding refreshes, logo designs, and updated website copy. Take a look at our new website for more information!
Like others before us (see: Dunkin, Meta, and Kia), we felt it was time to revamp our logo and messaging to better clarify our vision and values as a company. And this is something we strongly recommend for our clients as well. As financial advisors, it’s important to have a brand that resonates with the ideal clients you’re trying to attract—and sometimes that means a refresh is necessary. Read on to learn more about why a rebrand is important and how to know if it makes sense for you.
What Is a Rebrand?
Rebranding is a common marketing strategy used by businesses to keep their corporate image relevant and front of mind for consumers. Not only does it help to modernize your business, but it can also be used to subtly influence clients and prospective clients about the direction of your company.
A major misconception is that having a “brand” or a consistent look and feel to your business is only necessary for major industry players, but that’s simply not the case. Small businesses, particularly service-based companies (like financial advising), can greatly benefit from a revamped image that clearly communicates your vision, values, and services.
Should You Rebrand?
In the case of independent financial advisors, you may have started your business all on your own, handling all the marketing, branding, and messaging by yourself as you worked to build your book of business. Fast-forward 10-plus years and your brand may no longer resonate with the A+ clients you’re trying to attract. Even for those who are part of a larger firm, you may find your branding becomes stale over time.
A rebrand doesn’t make sense for everyone, but here are some key indicators to assess your current image as a business.
Is Your Brand Memorable?
Most advisors want to get to a place where most, if not all, of their lead generation is organic, either from marketing campaigns or top-tier clients referring other clients like them. But how can you expect organic lead generation if your brand isn’t memorable? What separates you from your competition, and how are you communicating that to your clients and prospects?
You can post on social media over and over, or send 1,000 email blasts, but if your brand and/or messaging doesn’t resonate, you won’t see results. If this is the case for you, a rebrand may be just what you need to realign your business with the clientele you want to attract.
Is Your Brand Creditable?
Have you struggled to keep your marketing consistent? Have you had several campaign starts and stops, and now your clients don’t really know what to expect from your messaging? Credibility comes in many forms, and you don’t have to be a part of a major scandal to have a brand that lacks credibility.
The more you can create consistency with your audience (through images, copy, content, and routine), the more creditable your brand will become. If you have struggled to maintain consistency in the past, a rebrand (and personalized marketing strategy!) can help you course-correct.
Does Your Website and/or Logo Look Outdated?
People want to work with businesses that are well informed and up to date on the latest industry news and best practices. That’s true in any industry, but especially in financial advising since financial tips, techniques, and strategies are always changing. If your website looks like it was created in the years immediately following Y2K, you are sending the wrong message to your clients and prospects.
A whopping 97% of people do online research before purchasing a product or service, and 75% of consumers judge a business’s credibility based on its web design. You could be inadvertently driving clients away based on your online presence (or lack thereof). In this case, a rebrand can modernize your company and make you more appealing to prospective clients.
Are You Targeting a New Audience?
By now you should know just how important it is to target a specialty and market yourself as a go-to resource for those clients. If you know you want to niche down, and you’ve identified your new audience, but your website, logo, and messaging do not communicate this change, you could be setting yourself up for failure by confusing prospective clients and making your brand less creditable. Choosing to specialize your services is often a great catalyst for rebranding your company as a whole.
Has Your Firm Matured or Changed in a Major Way?
Similar to taking on a specialty, major changes within the firm can act as an impetus for rebranding your image. Has management changed? Have you lost a partner, merged with another company, or fundamentally altered the services you provide? If the answer is “yes” to any of these questions, a rebrand could help you communicate these changes without losing clients.
What Makes a Rebrand Successful?
Rebranding is not without risks. Though clients want to know that you’re modern and up to date, change is also hard to accept. Some clients might wonder why you’ve adopted a new logo and website and if it means their services will be altered in some way. Taking too long to roll out your updates can also confuse clients and create a messy transition. Successful rebrands generally involve three important components:
- Introspection: Make sure you’ve put in the time and effort to really think through the vision, values, and messaging you want your new brand to reflect. It should connect with you on a personal level and clearly identify your value proposition. There’s nothing worse than spending the money on a rebrand, only to find that it doesn’t resonate with you, let alone your clients.
- Make sure everyone’s on board: If you have additional advisors at your firm, or other employees who will help deliver your new brand messaging, it’s best to make sure they buy into the new brand before rollout. If your employees are providing any customer-facing services, they can have a huge impact on how your new brand is perceived.
- Smooth rollout: Arguably the most important step of a rebrand is smoothly rolling out your new logo, website, and marketing assets. Some advisors get tripped up on this step because they roll out the changes in a piecemeal fashion, rather than all at once. This can create confusion among clients and inconsistency in your messaging. The more you can create a decisive rebrand that you only have to address once, the easier it will be for existing clients to get on board.
Let Indigo Guide Your Rebrand
Rebranding is an important step to keep your company relevant and competitive in the financial advising space. Many advisors put rebranding off because they don’t know where to start or how to do it successfully. At Indigo Marketing Agency, this is our specialty. We can design websites and logos, and craft custom messaging that clearly communicates your value as an advisor. Talk to one of our marketing strategists to learn more about your rebranding options today. Our team will guide you each step of the way to ensure your rebrand is a success.