Rebranding a Newly Acquired Business: They Told Me Not To
By Vera Raposo On November 19, 2008
Under Branding, Featured, Uncategorized
Rebranding a Newly Acquired Business: They Told Me Not To
Not long ago, I purchased an online business. When I bought the business, it came with its own, pretty well known brand, was a fairly profitable business and had a loyal client base. After obtaining the business, I pondered over completely rebranding it. The business didn’t require a fresh image, but it was something I personally felt would be a profitable choice as the new owner. I had plans to grow the business prior to acquiring it and giving it a brand make-over is just one of the ways I hoped to do so.
During the planning process, I consulted with business coaches, owners, and even those who worked in the same type of service based business. During that time, I had not one, but two business coaches tell me NOT to rebrand it. Both suggested rebranding the site was not necessary due to the fact it already had its own unique brand.
This led me to really think about which direction I wanted to take the business. I also had a hard decision to make in deciding just how willing I was to possibly lose current clients or turn future clients away. No one wants to think they may lose faithful clients, especially when acquiring a new business that has reached successful status. However, the more I thought about the direction I wanted to go and the types of clients I wanted to attract, the more I realized the following:
1. If the previous owner was the only reason they did business with the site chances are likely that they were eventually going to leave anyway, regardless of whether I took the site in a new direction or not.
2. Those clients who stayed on board did so because of the quality my team had given them since I took over. If they were happy with our services and we maintained those same services and quality, they would continue working with us no matter what I chose to do with the brand.
I planned to continue with the same services and have even added a few more. Therefore, the choice based on those two items was fairly easy. I now had one plus on my pros and cons of rebranding list.
My ultimate goal was to grow the business. I now had to think about the types of clients I hoped to attract in the future to make this possible. This is where rebranding gets a bit personal. Branding is more than just a logo and tagline. It also includes the ideals, direction and personality of the business. In the case of an online service based business, this means the owner, team members, and customers, given that they all make up the business.
This is another of the reasons I deliberated rebranding the business. When I took over, it had already changed hands once. The current brand reflected the original owner perfectly. However, the brand wasn’t really representative of my personality or the professionalism I wanted to portray.
I wanted a broader, more qualified image that reflected who I am as a person and more of the actual services offered. Yes, the previous site was good at letting people know that articles were their forte due to the fact the word article was in their name. However, I wanted to reach more than just business owners who needed ghostwritten articles. When someone simply sees the word “article” it doesn’t tell them right off the bat what it is the business is all about. If someone is searching for a service that creates special reports or sales pages for example, would the word article turn them away because they think at first glance that it’s only an article writing service?
What about the person who does needs articles ghostwritten? Due to the previous business name, it wasn’t
really clear if it provided article writing services or something else. See where I’m going? I wanted to capture a broader range of customers that needed more than just articles written. By changing not only the brand, but the name of the business as well, I would be opening the playing field to a bigger range of possible customers.
Of course, these are not the ONLY things I had to consider before deciding whether or not to go forward with the rebranding of the business, but they were a big part of the thinking and planning process. I knew the business was doing well when I purchased it and absolutely respected the decisions of those who told me I shouldn’t rebrand it (after all they are business coaches for a reason and very good at what they do). Even after all these things, I still felt in my gut rebranding was necessary to get where I wanted to be with this business. Therefore, I went ahead with my original plans and gave the site a completely new look and feel.
I’m happy to say the results have been phenomenal! In the less than two months since the rebranding process was complete and Get Content Results (formerly Article Mojo) was opened to the public, I have more than doubled my client base!