Tags – Rebranding a Property Business
A brand is a living, breathing entity that is constantly evolving.
There are a number of factors that go into deciding when it’s time to rebrand a property business.
Maybe you’ve outgrown your old brand, or maybe you’ve changed your target market.
Whatever the reason, there are a few things you need to consider before making the switch.
In this blog post, we’ll discuss some of those factors and help you decide whether or not rebranding is the right move for your business!
The Importance of a Rebrand
A rebrand aims to connect with new consumers, distinguish your company’s service offering from that of its rivals, shift your position in a certain sector, and keep you fresh and relevant in the market.
As a business grows, its goals naturally change as well; a rebrand is designed to ensure that your brand identity reflects new objectives, a fresh message or a new purpose.
Let’s look at Rightmove as an example. They dominate the UK’s property world, with the help of their two key emotive messages: “help make the right move” then later “find your happy”.
Despite this, Rightmove made changes to their brand as their goal was to be “more human“. The firm’s new aim was to portray the humanity behind the big brand while also preserving the ‘find your happy’ message.
A more humanised approach may assist a firm in establishing an emotional bond with its customers, and this is what Rightmove wanted to accomplish through the rebranding.
5 Signs It’s Time To Rebrand Your Property Business
When should you rebrand? Paying attention to a few key indicators might assist you in making that decision.
Furthermore, these signs will serve as reminders of why rebranding is necessary and what makes a strong brand.
1. You’re Not Appealing To Your Audience’s Emotions
If you’re seeing a lot of engagement online, such as lots of shares, comments, positive reviews and of course, sales – you’re most likely doing a great job at inspiring and motivating your audience.
If not, then you may not be appealing to their emotions and this can be a problem.
Regardless of if you’re providing outstanding customer service and have a great range of properties, if you’re not connecting with your audience’s emotions, they’ll be more likely to sign an agreement with your competitors instead.
Quite simply, people want to do business with brands that resonate with them on an emotional level.
2. You Have An Outdated Image
To keep up with changing aesthetics, many businesses have to rebrand in order to remain competitive.
For example, if you are still using a 90’s palette, you could be setting up your property business to look old and boring.
It’s critical to update and modernise your company’s image in order to stand out among professionally-designed businesses.
Consider if your brand image reflects any changes that have taken place at your firm while doing the rebranding process.
Consider your company’s logo, brand name, font, and associated elements to see whether they support your brand identity. If not, a branding change may be in order for your business.
3. You Need to Distinguish Yourself From Competitors
The UK property scene is a saturated industry, and in order to stand out, you need a strong brand.
When the market becomes dull, and everyone is doing the same thing, it’s time to rebrand.
Perhaps your competition is duplicating your tactics and attempting to retrace your every step.
This might be the moment to act, expand your reach, and take control of the market.
Think about what makes your property business different, and make it your core selling point with strong key messaging during your rebrand.
Modern customers not only care about the properties they buy or rent, but also the companies they interact with; you can change customer perceptions through a narrative that communicates your business’s identity, values, and mission.
4. You Want To Change Your Target Audience
It’s also a good time to rebrand when your current branding isn’t connecting with your intended target audience.
For example, if your brand identity was initially created to cater to customers in a particular demographic (i.e. only allowing professionals to sign a lease), but you’re now looking to expand beyond those groups (i.e. you want to target families), then perhaps rebranding is just what you need.
Rebranding can help you attract a new audience by employing imagery and other design elements that appeal to various sorts of customers.
For instance, your rebrand may use more vibrant colours, active imagery, and playful fonts to attract a younger audience, such as students.
5. The Perception of Your Business Has Changed
Occasionally, businesses fall victim to public perception shifting against them due to circumstances over which they have no control.
For example, a political movement may adopt a slogan or logo that is easily confused with your company’s branding, resulting in consumers to connect your business with the event’s agenda.
Another scenario could be if a business with a comparable name or branding (in which case, you should reconsider rebranding anyway!) has recently been involved in some type of scandal or legal difficulty.
Rebranding can help combat this negative shift in public opinion by allowing you to reclaim control of how others perceive your business and what it represents.
Reframing the conversation about who you are and what you do is a powerful technique for presenting yourself in new ways through different messaging.
Finishing Thoughts
A rebranding is a statement to the world about your company’s growth.
Whether it’s new property listings, expanding into new locations or committing to better customer service, it’s important to understand what your reasoning behind a rebrand is.
To create a successful rebrand you must be clear on your company’s mission and values, and know what makes your company special and sets you apart from the other property businesses out there.
You may then hire an agency to assist you with your rebrand; they will work with you to create a comprehensive rebrand strategy that covers all elements of your marketing and customer interaction.
Please get in touch with us today to find out more.
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