A rebrand can be daunting for any company, but it can be particularly complex for financial services firms. With trust and reliability at the industry's core, making significant changes to your brand identity can be risky.

However, a well-executed rebrand can also be a powerful tool for growth, innovation and increased market share. But how do you know if it's the right time to rebrand, and what steps should you take to ensure success? Let's explore.

Why Rebranding Might Be Necessary

Neuromarketing tells us that it takes about 50 milliseconds (0.05 seconds) for users to form an opinion about your website that determines whether they'll stay or leave.  That's barely enough time to take in your logo, which brings us to one of the most common reasons for a rebrand: an outdated image.

Outdated Image

While your brand's visual identity might have been cutting-edge a decade ago, design trends and customer expectations change. An outdated logo, color scheme or website can make your company seem behind in the times, potentially affecting your ability to attract new clients. Many people argue that brand logos are more memorable than advertising! If your brand is unmemorable, your ad campaigns won't work.

Market Shifts

Another reason for rebranding is market shifts. The financial services industry is highly dynamic, with new regulations, technologies and client needs emerging regularly. If your brand no longer aligns with your services, it's time to rebrand to reflect your current and future business direction.

Mergers and Acquisitions

If you are in the process of a merger like we are, you understand that this can also drive the need for a rebrand. Merging two teams—even when they are talented and capable—can feel chaotic. How can you help with that?

Use your brand's vision, mission and values to inspire your new aesthetic.

Having one cohesive brand will clarify your market position and strengthen internal alignment.

Expansion and Growth

As your company grows, you might expand into new markets or offer new services, making a rebrand necessary to communicate this growth to your audience. A fresh brand can help you resonate with a broader demographic and reflect your expanded capabilities.

Steps to a Successful Rebrand

Okay, so if you're going to do a rebrand, you've got to commit 100%. Otherwise, you'll just confuse everyone. Before you change anything, figure out what's working and what's not with your current brand. You can do this with a brand audit.

Everything you have (such as brochures, product sheets, web pages, forms, etc.) will help you decide what to keep, toss, or completely redo.

Define Your Brand Strategy

Your brand is more than just a logo; it's your promise to your clients. Define your brand's mission, vision, and unique value proposition (UVP). Do you offer something your competitors don't?

Conduct surveys, focus groups, and competitive analyses to assess your current brand's strengths and weaknesses. Understanding how your brand is perceived will provide a clear direction for your rebrand.  

Update Visual Identity

Work with a skilled design team to create a fresh visual identity that reflects your new brand strategy. This includes your logo, color palette, typography, and other design elements. Ensure these elements are cohesive and adaptable across all platforms, from your website to your business cards.

Revamp Your Messaging

Your brand's voice and messaging should also be updated along with your visual identity.

Pro Tip: It's helpful to imagine your brand as an individual. When they enter a room, do they make everyone laugh and engage with the crowd, or maintain a professional and serious demeanor? Let your brand's personality shape the way it communicates.

Craft clear, compelling messaging that resonates with your target audience and reflects your new brand values. This messaging should be consistent across all marketing channels, including your website, social media and print materials.

Plan a Strategic Rollout

A successful rebrand doesn't happen overnight. Develop a detailed rollout plan that outlines how and when the new brand will be introduced. This plan should include internal employee training, updating digital and print materials and planning marketing campaigns to announce the rebrand to your clients and the public.

A rebrand is a significant investment but can yield substantial returns when executed effectively. By enhancing brand perception, attracting new customers, and driving business growth, a successful rebrand can position your financial services company for long-term success.

Are you thinking about rebranding? Evaluate your current brand and consider whether it truly represents your company's current state and future direction.  

Discover how our merger with Leadjig + Acquire Direct will redefine the industry. Tune in to our recent FAST Podcast episode to learn about our shared vision, culture and entrepreneurial spirit. Get ready for an exciting rebrand that will revolutionize the way we do business. 👀

‍