How Can Rebranding Help Businesses That Are Entering New Markets?

by | Oct 20, 2021 | Brand Strategy, Branding, Entreprenuer

Plenty of businesses are entering new markets all the time. I’ll bet you’ve heard of brands like Red Bull and Tesla. Did you know that they both entered markets that were different from their original products? They did. Red Bull broke into the media market in 2007 when it launched Red Bull Media House. Tesla took its electric vehicle expertise and used it to branch into the home battery product industry in 2015 with its Powerwall system.

If your business is thinking about entering a new market or markets, then you should also be thinking about going through a rebranding.

 

Businesses Entering New Markets

Two ways rebranding can help businesses that are entering new markets

Rebranding is a refresh of the tangible and intangible elements that affect your customers’ experience with your business. This process can include things like updating the design and colors of your logo. For example, you may consider changing the color of your logo. One brand survey reports that 33% of the world’s top 100 brands include blue in their logos. 

Colors aren’t the only element a rebranding may focus on. This process can also help you adjust the tone of your print and digital content or the voice your brand is using on social media. Rebranding can also be used by businesses that are entering new markets to:

Appeal to a new audience

Your company may have been focused on one market for years, and that market contains a certain audience that you’re—hopefully—speaking clearly to. However, a different market will have a different audience. Your tried-and-true messaging, tone, voice, logo, etc. may not work as well with this new audience.

Rebranding can help your business readjust these elements, and these readjustments are based on marketing and behavioral data drawn from the audience you’re trying to reach. This data helps you make specific brand updates that can help you appeal to that audience.

Build trust with customers in the new market

Your rebranding can help your business appeal to customers in the new market you’re entering. But rebranding is also useful for building trust, and a customer’s trust is golden. How do I know? Branding surveys reveal that 59% of customers prefer to buy new products from brands they trust.

Without that trust, appealing to a customer may not be enough. Many of them may take a brief look at your website or content and then head over to a more trusted competitor. Your rebranding process can help you learn how to address questions that potential customers may have about your business. By answering these questions clearly and openly, you can build trust with them that can translate into increased sales.

Heart & Hustle can help businesses entering new markets rebrand for success.

Your business has made the courageous decision to enter a new market. Heart & Hustle Brands can use rebranding and digital marketing services to increase your chances of success.  

Want to talk about how our rebranding process works and can benefit your business? Contact us today to request a free 30-minute rebranding consultation.

Stacey Harrison

About the Author

Stacey Harrison is the lead brand strategist and designer at Heart & Hustle Brands and has provided creative direction for healthcare, industrial, and financial services brands for 20 years. She started Harrison Creative Group in 2017 to serve businesses that need a professional brand image on a budget. In 2021, the company rebranded to Heart & Hustle Brands to walk in the shoes of clients that experience a change of name or brand refresh.

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