What is Branding?
Branding is how we choose to represent ourselves to the world and to our customers, and it is what people will remember about us.
It is our identity and what we say about ourselves, and it is the way we behave, the way we do business, and the way we present ourselves day to day.
Branding is both an art and a science.
If you want to be memorable, you must take the time to craft your personal branding message and fully understand why people come to you in the first place.
Nowadays, this means understanding what sets you apart from all of the noise in your industry and in your area.
Branding is not something that is done overnight!
It takes time to get it just right. And you will find the need to rebrand over time.
Is your brand stale?
Many coaches and speakers make the mistake of holding onto their old brand long after their business has evolved with new products and services. They don’t realize that their old brand has lost its relevance. Your brand must always be evolving to match your business, or it is in danger of becoming irrelevant.
For example, when Apple first started, their brand was based on selling desktop computers to college students. Then, they realized that the future of the computer was in the cloud. They changed their brand to reflect this change by selling music in the cloud. Today, Apple is the most valuable company in the world.
Old branding is often a relic of a former era. Anyone who has been around for a while has probably had the experience of speaking to a potential new customer who was speaking to them as if they were still speaking to their old company. It’s incredibly frustrating to lose a sale because the branding is so outdated.
But, what can you do about it?
It’s not easy to change your brand, but it is vital to the long-term success of your business.
Whatever the case may be, you might be in need for a brand refresh.
Evaluate Your Current Coaching Business
Rebranding may become necessary in order to reflect a big change in your coaching business. This could be a change in your target marketing, or a change in strategy.
It could be something smaller like the launch of a new program or suite of services or a period of growth.
Some questions to ask yourself
- Has your audience has changed.
- Have your services have changed.
- Has your business grown from a solopreneur to a small team of service providers?
- Do you think it’s important to rebrand once your business grows?
- What new products and services do you plan to add to your business?
- How do you feel about your business?
- How do your customers feel about you?
- What do you like about your old brand?
- What don’t you like about your brand?
Depending on your answers, it may necessitate a brand makeover.
Get Serious About Your Branding
Like many coaches, you may not have out much thought into your brand. When starting out, it can be challenging to fully grasp what your clients need, how they perceive you, and your unique position in the market.
As a coach, you are selling something intangible. You are selling yourself. You are selling your knowledge, expertise, and your ability to help your clients. You are selling your ability to connect with your clients in a way that they feel understood, understood in a way that they never thought possible. As you build your business, you are building your reputation, your brand, and your ability to help your clients. This is why branding is so important for coaches.
As your coaching business start to grow, you may feel like you’re lacking a strong brand identity. This is indicative of a need for a brand refresh!
Connect with a New Audience
Coaches often decide to re-brand in order to connect to a new audience.
In order to grow into a new segment of the market, your brand needs an update in order to focus on the needs of this new segment.
Since you’re reaching new clients, you need to reassess the needs your company meets so your branding can communicate this.
- What does your new audience need from you?
- What does your new audience respond to?
- What problem(s) does your new audience have?
- What solutions are they looking for?
- Will you still serve your existing audience?
- Will it be possible for your audience to understand your transition?
Evaluate Your Coaching Business Peers (Competition)
The competitive landscape might have changed.
If there are new players in the market, you might need to re-brand in order to show your audience how you’re different.
Coaches that have a clear understanding of their competitors’ products and services have a competitive advantage in the marketplace.
Having a competitive advantage gives you a higher chance of getting in front of the right audience more effectively.
In order to obtain a competitive advantage, you need to be aware of your competitors’ programs and services.
Rebranding allows your coaching businesses to highlight your strengths and show your ideal clients how you are different, which can help businesses stay relevant against competitors that are growing.
How Do You Know It’s Time to Rebrand?
Rebranding is a major step that takes considerable resources and effort. Here are the signs that it may be time:
- Your messaging seems outdated or unclear; you feel stuck and like you’re stagnating
- Your branding is attracting the wrong clients or coaching business partners
- There are major changes in your market, your competitors, or your coaching business
- You’re seeing a slip in revenue or your profits are hitting a plateau
- You’re creating a new coaching business strategy to reach out to a new segment of the market
- You didn’t really put the time and energy into your branding at the beginning
Rebranding starts with clarifying your coaching business’s vision and goals and performing a brand audit to determine how well your current branding is communicating your unique value to the market.
It’s a great way to reinvigorate your coaching business and meet new challenges.