When you launch a business, there is a lot to consider, and branding is among the most important.
Unfortunately, it is sometimes overlooked at the beginning- or inexperience and misguidance can lead to decisions that don’t work out as well as planned.
When that happens, rebranding is something to consider. A brand refresh or complete overhaul of your visual elements can give your business the fresh start it needs- and a chance to better connect with a broader audience.
Whatever your reasons for considering the rebranding process, it is crucial to understand the ins and outs, and dos and don’ts, before you get started.
Here is an overview of how rebranding works, when it works, and how to strategize your new visual identity.
Why Is Rebranding Sometimes a Good Idea in Business Brand Strategy?
Brand image is everything. Consumers are quick to lose interest and trust, and it is hard to get it back once it is gone. A rebrand is like a reset—the same business at heart, but with a completely new image, voice, and name.
Rebranding is a business marketing strategy that lets you differentiate a new brand from the old, without losing the company altogether.
Although it is still the same, it is different in the eyes of consumers, investors, and competitors.
Reasons to Rework Your Branding
Businesses rebrand for a lot of reasons. Here are some examples of when a rebrand launch might be a good idea.
- You are receiving some negative brand recognition and need a big change to get around it.
- The scope of your business has changed, and the name or general branding is too limited.
- Your current branding no longer aligns with your goals, values, or product offerings.
- Current brand strategies are not working the way you want them to.
- You need to set yourself apart from competition that is too similar.
This list is far from exhaustive, but it gives you an idea of the types of situations where a rebrand may be appropriate.
When Not to Rebrand?
There are other situations when a rebrand may not be the best move for a business. Here are some examples.
- Rebranding just because you get bored of your current brand or someone new is in charge is rarely a good idea. Consistency appeals to consumers. Changing for no good reason could do unnecessary damage, and is not worth the risk.
- You shouldn’t rebrand if you are not willing to go the whole way. Just changing a name and logo but leaving the rest the same is confusing, and may alienate your existing audience.
- If the cost of rebranding is not feasible, it may not be the right time. The overall process is not inexpensive by the time you include marketing materials, restructuring, and the investment needed for the technical side of it all.
- When you have a strong brand that consumers relate to, it is best to stick by it- as long as you are always on the lookout for signs that it needs to evolve.
Six Steps to Successful Rebranding
If rebranding does feel like the right fit, then it is important to know how to get started and the key things to consider.
Knowing how to rebrand successfully improves your chances of a strong relaunch that will keep existing clients engaged while also attracting new ones. Get your rebranding efforts off to the best start with these top tips.
1: Set Out Your Goals, Values, and Priority Before You Start Working on a New Brand Concept
One of the biggest rebranding mistakes people make is diving in without a clear idea of what they want to achieve.
Branding is your company’s visual identity, and it needs to represent what your business is, what it does, and what it values.
Without a detailed overview of what these things are, you risk missing the mark with the rebrand. Clear messaging goes a long way, and it needs to start from within.
2: Create Comprehensive Brand Guidelines that Incorporate Your Current Brand
Having a rebranding checklist for all the crucial brand elements helps keep you on track. This is especially important if your rebranding strategy is to incorporate your existing brand in some way.
While it is a bit simpler to start completely fresh, it is not always possible- or the best move.
If there are parts of your previous brand you want to keep, they need to be worked into your new brand guidelines early on to ensure consistency and fluidity.
3: Research Your Target Audience, Competitors, and Market
One of the benefits of rebranding is the chance to reconnect with your target audience.
If it is something you struggled with originally, it is worth putting in some research to find out what is current, relevant, and appealing.
4: Work With Your Core Team on New Branding and Marketing Ideas
Your team is an intrinsic part of your business, and a rebrand can’t fully work without them onboard. Work closely with people whose opinions and insights are valuable to you, and take their input seriously when moving forward.
If you have an internal branding and marketing team, make sure they share your vision. If not, bring in an agency that can help you through the process.
5: Consider Renaming the Business
Renaming is not always necessary, but it is always worth considering when you rebrand. It depends on the reasons behind the decision.
This is one of the biggest branding decisions for any business. Make it a priority, and don’t rush into anything.
6: Build a New Brand Identity that Appeals to Potential Customers while Considering Existing Clients
From the new logo to your marketing efforts, your entire brand identity needs an overhaul. Think about the message you want to put out and how you want consumers to view your business 2.0.
Final Thoughts
The most successful companies are the ones that understand when it is time to evolve, and that go about it the right way.
If you think a rebrand is what your business needs, it is crucial to move forward with purpose and a clear strategy.
PGN is a leading expert in marketing for rebrands and much more.
Find expert advice in our blog, or speak to our team about the services we offer and how we can help your company through the crucial rebranding steps.
