Doing a successful rebrand takes a lot of effort. Without the right brand strategy, you will fail to connect with your target audience, which will lead to several problems down the road.
Whether you want to work on brand positioning or improve your marketing strategy, a rebranding process is something you may have to think about eventually. It offers an opportunity to improve your existing brand while making it fresher and more appealing to audiences.
With the right guide, you won’t have to second-guess your decisions. Every step you take will be toward improving your new brand. Here’s the only guide you’ll ever need for rebranding:
Why Should You Rebrand from Time to Time?
Rebranding efforts cover a lot of ground. Not everyone does it for the same purpose.
Generally speaking, rebranding changes or updates a company’s brand messaging, visual identity, or personality. It can go from adjusting your marketing strategy to changing your old logo to make it more appealing to new customers.
Why would you need to rebrand? The reasons range from adapting to emerging changes to fixing a damaged reputation. You may have noticed that your sales have plateaued or that competitors have started to get more customers. If that’s your case, you may want to consider a rebrand.
When you rebrand your company, it doesn’t mean you’re only changing the image. In most cases, you’re redeveloping the old brand to make it stand out even more.
An established brand can help an entire company succeed over time. It will help you connect with people, ensuring you understand what they need so that you can provide the right solution.
Here’s a list of reasons why you may want to start creating a new branding strategy:
- Your target market isn’t defined correctly, or you want to reach new people.
- Your company’s mission is outdated.
- You want to work on your brand loyalty.
- You’re losing relevance in the market.
- You have come up with a new product or service listing.
- Your internal/external brand perceptions aren’t aligned.
- You have outdated visual elements.
- You don’t have the right brand elements.
- You went through a change in leadership.
- You’ve undergone a merger.
Learn the Advantages of Rebranding
When done right, updating your current brand will come with a lot of benefits. They include:
- Brand Recognition: Rebranding strategies are perfect for companies wanting to scale past their current product/service offering. In other words, a rebrand may be an excellent step to take if you’re thinking about the future and want to become more recognizable by your target audience.
- Competitor Differentiation: A successful rebrand will set you apart from the competition. Whether you’re someone in a competitive market or not, you’ll get a positive impact from finding your unique place in it. Rebrands ensure people recognize your voice and connect with it.
- Optimization for Purchase Intent: An outdated brand identity or message can make it much harder for customers to purchase during the initial engagement stage. When you create a solid brand voice that fits your visuals, you’ll successfully work on your purchase intent, which can help lower your product’s customer acquisition cost later.
- Re-engagement: It’s not just about attracting new customers. By updating your brand image, message, and identity, you can also reconnect with your existing clients.
Partial Rebrand vs. Complete Rebrand
Before we start working on your new brand identity, let’s clarify two terms: Partial and complete rebrands. Understanding how they work will ensure you make the right decision when working on your brand’s identity, message, and image.
- Partial Rebrand: It involves making slight adjustments to your brand guidelines or identity without changing its core values.
- Complete Rebrand: Also known as a “total makeover,” it involves changing, revamping, or replacing every element of your business to create a new identity to show to the market.
Start Your Business Rebranding on the Right Foot
This brand strategy outlines everything you should consider doing during the process. However, these steps may vary a bit depending on what your needs are.
Below are all the components of a rebranding strategy you should know about. Let’s get started!
Review Your Audience and Market
Your target audience may change as time passes. If you haven’t taken a good look at your brand’s audience and market, this is the perfect time to do it.
Consider creating focus groups, as they will help you discover your target market.
Redefine Your Mission, Vision, and Values
When creating your new brand strategy, ask yourself the three following questions:
- What am I doing?
- How am I doing it?
- Why am I doing it?
The first question will help you address your vision. Then, the second one will cover the mission. Finally, the third question will help you with your values. By having the answer to all three, you will have an easier time adjusting your brand voice.
Think About Your Company’s Name
Renaming your company is a huge decision that can cost you recognition and even organic search traffic, so it should be something you think about thoroughly.
Most of the time, you’re better off keeping the same name to retain brand recognition. However, if you feel the need to come up with something new to align with your new identity, feel free to brainstorm a few ideas.
Reconsider Your Slogan
Creating a new slogan can help you show your company’s mission and vision clearly. If you feel like your old one isn’t doing the job, you may have to consider a catchier and punchier slogan.
Review Your Brand Identity
You don’t have to completely change everything your brand is known for. However, you may sometimes benefit from a few refreshments.
Some elements you should consider when rebranding include:
- Logo
- Color palette
- Shapes
- Imagery
- Typography
- Brand guidelines
Announce the Rebranding Correctly
Even if you have the right plan, not being mindful when announcing it can cause some problems. Make sure you create an excellent PR campaign that brings awareness and excitement to your rebrand. You should also work with your marketing department to create a campaign for email, social media, and other digital platforms.
The rebrand presentation should show all your efforts to become more memorable and create demand among your customers. Take as much time as you need on this step, as it’ll make everything worth it.
You can measure your rebrand’s success by taking a look at a few elements, including:
- Key Performance Indicators (KPIs)
- Customer feedback
- Brand recognition
- Sales metrics
Bottom Line – Why You Should Consider Business Branding Services
Taking care of your rebrand is hard, but by following the tips mentioned here, you’ll have an easier time gathering all the information you need.
If this is too overwhelming to handle, you may want to leave the job to a professional marketing agency. We have all the tools necessary to help you create a solid and successful rebrand, ensuring you connect with new and existing customers in a way that will revolutionize your business.
Start thinking about your plan today, and make sure to create a stronger and more powerful brand.
