how a rebrand increaseS your valuation
“For a house to be successful, the objects in it must communicate with one another, respond and balance one another.”
She's got a point, our Andrée. Not only about houses, but also about brands when you really think about it. I see parallels between the two, let me show you how.
For instance, when you are looking to sell your property and maximise its value, you will find yourself stepping back and asking:
Is this house attractive for potential buyers?
Is the house still fit for purpose or has technology and society moved on?
Does it need a fresh coat of paint to refresh its identity?
Can we do more with this house via an extension or conversion?
Now, when selling a house the ultimate objective of is to increase its value, of course. Isn't this the same principle with rebranding your startup? Although this is relevant at all times, it might be pertinent to seriously consider how to boost your company’s valuation before an IPO or the next round of funding.
Sound interesting? Let me explain the three stages and how they can help you.
#1 REALIGN
This stage is all about analysing your existing work, re-evaluating the changing competitive landscape and as a result identifying your gaps and weak spots. It’s about asking if your brand is standing out against its competitors and whether you have a unique and compelling proposition for your target market. It’s about realigning what you believe to be true with reality in order to maximise the effectiveness of your brand.
For your customers, you must conduct thorough qualitative and quantitive research to understand whether they are; using your product/service in the way you initially intended, resonating with your messaging, rating the way your brand looks and feels, understanding your unique proposition compared to competitors, and recommending the product to their peers. You need to understand to be able to rebrand with relevance.
Furthermore, you need to understand your market context. The world changes – rapidly. You blink and the market has shifted. Innovations. New entrants. New technologies. Are you still as unique as you were at the start? REALIGN your startup by understanding how to get closer to your existing customer base, stand out against competitors and increase attractiveness to new customers. More customers + more differentiation = more sales. Simples.
#2 REDECORATE
Now that you’ve got the lay of the land and market context, you can purposefully rebrand with confidence and insight. Armed with real-life customer expectations, a full picture of the market and an understanding of the true usage of your product/service, it’s time to revisit all aspects of your brand. Here it is imperative to understand whether your current actions are aligned to your future ambitions, and if not, how can you reinvent or pivot to maximise your effectiveness. This includes but not limited to; your market positioning, your value proposition, your key messaging, your identity, logo, typeface, imagery, etc.
This is the creative exploration. It’s the emotive mixed with the intellectual. It’s about uncovering your true spirit and ensuring it is communicated to the world. It’s about authenticity and pride. By redecorating you are telling the world that your startup is evolving and adapting to the vibrant beat of the market. Your startup doesn’t stand still, it revolutionises and innovates.
REDECORATE your startup to upgrade underperforming aspects of your brand, increase your relevance and difference in the market, revise your strategy and inject new life into the organisation. Stand out design + a relevant strategy increases your chance of success and longevity.
#3 REMARKET
The big reveal. The exciting bit. Time to go to market and show the world the new you. This stage is an incredibly important opportunity to not only make noise in the market but reach new and existing customers with aplomb. When done correctly you can garner unprecedented attention towards your startup and attract new investment, interest and partnerships. Here you will need to consider all your channels and touchpoints to maximise the effectiveness of the launch. Is it a physical pop-up? Do you disrupt high-footfall locations in key strategic areas? Is it a digital campaign? Special merch? All of the above and more?
Of course, the impact of this will be determined by your industry, budget and stakeholder buy-in but it’s the ‘cup final’ of the process. You’ve done the hard work in the previous two stages now is the fun (and fundamental) part.
REMARKET your startup to create noise, disrupt the industry and get the people talking about you. With that you can expect a boost in your valuation as the excitement builds for your organisation, both internally and externally. More awareness + market disruption = more people talking + more investors looking = monies.
SUMMARY
Of course, a killer rebrand is just one piece of the overall complex puzzle of startup life. You still need an excellent product/service, a watertight business strategy and a loyal audience. However, by following these three steps, you will certainly go a long way in shifting perceptions, capturing attention and acquiring the hearts of existing and new customers – not such a bad thing, eh?
