By Tyllah0 comments

Rebranding 101 | Why + How + Cost

Welcome to “Rebranding your business 101” where we discuss how to know when it’s time, the process, emotional expectations, cash flow, cost & remaining relevant. If this is something you would like discuss in detail, sign up for my Weekly Live Training Session. Alternatively, you could book your One on One consulting session for a more personalized experience.

Before we start, I’d like to let you know upfront what this post will provide for you in value and in what way. Simply put, we will discuss the why, how, what, emotional, cost, & optimal strategy for rebranding your business. If you’d like help with other things for your rebrand such as building a website, creating content or email marketing - go download your 4 FREE digital files now! 

If you prefer to watch videos instead of reading, check out the youtube video that pairs with this blog post. Make sure you like, subscribe, and comment to let us know if the videos are as helpful as the blog post.   In the meantime, let’s discuss rebranding 101.

 So, how do you know it’s time to rebrand?

  • You’re stagnant.
  • Your growth is stagnant.
  • Your sales have plateaued.
  • You’ve peaked, so no one is expecting you to change and grow anymore.

But really, what do those things mean?

Basically, you’ve gotten comfortable with where you are & complacent with your position. Somewhere along the way, you forgot how important it was to be interactive, engaging and full of surprises. A rebrand can help you find your way back or develop new systems to create efficiency. A rebrand can also help you recently yourself, find your inspiration and remember your WHY for launching your brand initially. 

 What does rebranding look like?

Truthfully, it’s different for every brand. For me, however, I redid EVERYTHING in my business - new brand colors, logo, website, merch, content, attitude, systems, & attitude. I started going to therapy, took courses, read a ton of books and studied for 3 months straight. I think there’s a massive misconception that rebranding means you ONLY work on your brand.

But really, rebranding is the optimal time to work on yourself, learn new skills & Change your approach to solving problems. Essentially, rebranding is an overhaul of the things that you’ve always thought could be improved but never made time to do. It’s the pivotal period in business where you stop just reflecting on what’s wrong and you start taking action to fix it.

Your rebrand can be minor changes or a major overhaul, that depends primarily on you and your budget. I spent $5,000+ on my rebrand - 3 photoshoots, hair, makeup, new tech, courses, books, expanding my team, new merch and more. I invested the $5,000 I wish I had 3 years ago when I started & I’m sooooo happy I was able to do it in 2020”.

Learn more through my YouTube video 👉🏾

Side Offer: Consider taking our 1-minute quiz to learn more about how we can help you get started today! 

The emotional aspect of rebranding?

The mixture of emotions you’ll experience is different for everyone.

For example, for me, there was honestly a mix of emotions:

  • I was happy because I knew I was making progress and moving forward in business.
  • I was sad because my business is my baby and I was ripping apart everything I knew for the unknown.
  • I was anxious because I felt like I wasn’t working fast enough. I was upset because I missed my relaunch deadline three times due to perfectionism.
  • I was crying be the stress was overbearing.
  • Then, FINALLY, I was satisfied because the site was finished, and I loved the final result.

I think we did a great job on the new site. What do you think?


How much does it cost to rebrand?

It depends on yours skills and your budget. For example, I designed my own website and new logo, so that saved me $3,000+. However, I used 3 different photographers, 3 nail techs, 3 hairstylist and Went shopping at 5+ stores just for photoshoots. So the photoshoots alone were $1,000 - I know, costly. But in the end, I love the new images and they portray me as the professional I want to be perceived as.

THEN I bought 5 new pieces of technology, upgraded my office space, bought new office furniture, expanded my team & paid some employees in advance for the whole relaunch month.

Needless to say, I spent over $5,000 for my rebrand. You could do it for less, but you won’t be able to do everything I did. At the least, I’d say expect to spent $1,500 on a small rebrand and $5,000+ on a significant rebrand. Realistically, it mostly depends on how much you do in house. You could do your own photo shoots, hair, makeup & buy press-on nails - that alone already saves you $750. Then if you’re tech-savvy, you could design a logo & a website, saving you an additional $3,000.

I NEEDED the tech so that I could start offering new services. For example, I bought a Cricut Air Explorer 2, Epson Ecotank 5850, label printer, ribbon printer & Celphy printer for high quality photos. Here are some things I’ve practiced making or will be selling over the next couple of weeks.

Side Offer: Consider taking our 1 minute quiz to  learn more about how we can help you get started today! 

Customizable & Branded Lottery Tickets


 Cute & Memorable gift Cards

Custom Branded Thank-you Cards


How does cash flow work during a rebrand?

Before I started my rebrand I saved $5,000 for it over 4 months. A month into it I received a Shopify capital loan for $2,200. & Following this I closed 2 long term contract deals. Since I’ve been in business for a few years, I also qualified for a business loan from the SBA & a small grant.

I am VERY careful with loan spending and only accept low interest or no interest loans with flexible payment terms. If you are not good at this, don’t take the loans. I took them because I’ll have them both paid off before October. If you have no intentions of paying them off early, do not do what I did. I used the Loans mostly for tech and my office upgrades, but most of it I’m savings for ads, marketing and inventory.

Cash continued to flow for me because I have consistent clientele I work with via social media, email and texting. If I close my website & social accounts, I will ALWAYS have clients because my email list has over 3,000 people and over 1,000 have my phone number. This is how I’ve kept cash flow alive during my rebrand. I couldn’t believe how many texts and emails I got once the website closed, it really showed me how valued my brand is and how a rebrand could on heighten that value.

If you don’t have $5,000 laying around or it’s challenging to save, please don’t let this discourage you. Never forget I started my business with $200 & a dream.

While that $200 helped me get to where I am, I couldn’t expect to get the clients and success I wanted with the brand I built 3 years ago. If you’re new to business (1 year or less), I can’t say for sure if you need to rebrand because you just started and there’s no real data yet. Instead, I challenge you to stick things through, improve where necessary and take things day by day, the pyramids weren’t built overnight 🙂.

How do you remain relevant during a rebrand?

Start by keeping everyone informed and updated.

Rebranding =/= disappearing.

  • Instead, engage more on social media
  • Put more into your email campaigns
  • Take a course
  • Buy a new social media book to enhance your skills
  • Write better content (study copywriting)
  • Host virtual workshops
  • Send out coupons for the rebrand and be more active overall. That way, when you relaunch, people are excited and ready to launch.

Just because you rebrand doesn’t mean you rebuild. You’re technically using the same foundation to grow your business, so try to avoid treating your rebrand like a startup or launch - It’s a Rebirth.

Side Offer: Consider taking our 1 minute quiz to  learn more about how we can help you get started today! 

To learn more, connect with Me on other platforms:

 

Tags: Branding

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