How to rebrand your advisory business to build trust, authority and higher fees
The advisory market has never been more competitive.
Gone are the days of relying upon referrals from your network (which, lets be honest, was never a failsafe marketing strategy anyway) and a smart website being enough to secure new clients - it’s time to step it out. But when’s the right time? And how to go about it? I’ve got you covered.
When’s the right time to rebrand?
There are two typical scenarios which bring advisory business owners to my door: either they’ve realised that the dated website they launched ten years ago is no longer really cutting it, or they’ve committed to making a firm push towards higher paying clients. They’re super confident of their expertise, have a proven track record with a particular client scenario and they want to elevate their market presence to help them attract the premium clients that their specialism is uniquely placed to serve. In either scenario, there’s a sense of needing a change in order to drive their business forwards. Perhaps you can resonate with this?
What do you want to achieve?
The clearer you can be about what your desired outcome is, the more successful your rebrand will be. It’s about influencing perception, yes, but you mustn’t overlook that business decisions are branding decisions, and vice versa - when you embark upon a rebrand, its an opportunity to completely redefine how you do business. Maybe this isn’t just about crafting a stunning website, but about refocusing your business model to work with fewer high paying clients? Maybe you’d like to deliver your services in a different forum? Perhaps you’ve been dreaming of diversifying - or of honing your specialism to command specialist fees? Be super clear from the outset as to what your commercial objectives are. Think about how you’d like your business to be perceived - trustworthy? Industry leading? Innovative? Anything goes, but make it relevant and exciting. A great brand consultant can support you in finding positioning which feel ambitious but achievable.
The rebranding process step-by-step
The process you follow will vary depending upon the agency you’ve engaged to execute your rebrand, but there are generally three distinct phases to the process:
Consultancy & Strategy - the exciting, anything-is-possible bit where you get to delve into the possibilities which lie ahead and work with your brand consultant to arrive at an inspiring vision for the next chapter of your business. It should feel ambitious and a little out of reach - but authentic, and something you’re excited to grow towards.
Creative exploration - mood boards, colour palettes and logo concepts are produced in this phase. The first glimpse of your new visual style
Brand development - a fuly developed visual brand identity will include a primary logo and supporting alternative designs for social media, web headers etc, a colour palette, a suite of fonts (usually 4), icons/illustrations/ patterns/texture, image style and key messaging. Our brands are delivered within a Style Guide which includes illustrative examples of your brand identity in action - an invaluable reference point after the project is complete
Activation - the real magic of your brand is in how it shows up in your clients world. This is the phase of the rebrand where you’ll be looking at website design, service guides, thought leadership templates, social media graphics, emails and every other detail of your client journey
Common mistakes to avoid
There are three things I want you to avoid: imitation of the current market leader (how can you expect to stand out?), asking the opinion of well meaning but unqualified people (I’m sure your aunt Janet is lovely, but is she a branding expert? If not, her view won’t help move the process forwards), and falling at the final hurdle. To make the most of your investment, you owe it to yourself and your business to elevate every single detail of the brand for your advisory business - not pay for a beautiful Style Guide which lives in your desk drawer. This is a huge opportunity to make enormous inroads - take it!
How to communicate your rebrand to clients and prospects
A rebrand provides a brilliant excuse to reconnect with your network. In my experience, advisory businesses usually rebrand to reflect a new direction, specialism or growing team - all things that your clients and colleagues will want to hear about. The way your communicate this needs to feel authentic for you, and will likely vary to suit each contact. Maybe its an excuse to book that long overdue lunch? Maybe its a quick zoom call to walk them through what your new offering means for them? I recommend listing everyone you want to contact, in order of greatest opportunity, and noting your goal beside their name (eg - asking for a referral, pitching for a meeting) - that way, your contact remains super focused and is more likely to be business-building.
Considering a rebrand for your advisory business? I’d love to hear from you. Email me at hannah@ditto.uk.com to begin a conversation.
