When we talk about brands, we think of their appeal. A brand can make a huge impact in the eyes of customer with just its Logo, Color scheme, Packaging and Motto. In short, its representation through designing.
A good brand can bring you sale, well everyone knows it. Brands always need to get updated in every department possible. In terms of making it appealing in design, we call it branding.
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To keep doing changes in your brand and making it up to date is quite challenging. Choosing color and fonts of a brand is also a factor that affects the its presence. But also very important. In the current scenario, trends are changing very often and competition is tougher than ever. That's where a brand needs rebranding.
WHAT IS REBRANDING?
So What Is Rebranding?
Rebranding is the process of changing the image of a company or product. The aim is to make the new image more attractive to consumers. It is a marketing strategy that involves changing the logo, name, symbols, or a combination of all of them.
We rebrand to raise awareness of a company’s or product’s new identity. A company’s or product’s brand is what gives it its look and feel. Therefore, when we rebrand, we want to give the company or product a new look and feel.
If you plan to rebrand, it is crucial that you know the reason behind it. It is also important to correctly predict what resources you are going to use. Above all, you need to know exactly how much you plan to spend. Also, if the company has a problem, it is crucial to be certain that rebranding will solve it.
Is Rebranding A Good Idea?
There are many reasons why a company may wish to rebrand. Perhaps there was been too much negative press. The rebranding may be in response to changing consumer habits.
If there was a shift in the company’s product offering, having a new image may be a good idea.
Changes in the target market can be reasons to do a rebrand.
The most important thing to remember is that a brand is not what a company does or what it looks like – it is what people believe the company does and how they feel about it. While this definition of brand image can seem imaginary, its foundation is real.
The ultimate goal in business is to create a perception of your company, its products and services that is valuable, meaningful and most importantly, different from competitors. It is the combined activities of the entire organization from operations to leadership, production, distribution, human resources, customer service and marketing that create the real experiences, impressions and interactions that, together, shape how consumers feel about a brand and where they rank it among its peers.
IMPORTANCE OF REBRANDING
Why Rebranding Is Important?
According to Forbes, your business has seven seconds to make a first impression. Sometimes brands fail to draw the attention of customers because of using the wrong logo, having a difficult or un catchy name, or working with an unclear vision and mission.
We live in a world where trends are constantly evolving, so companies also require changes to attract new customers. This is possible with rebranding. You might just need to refresh your business, design a new logo or name after a merger with another company, or define new business objectives, mission, or vision.
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BENEFITS OF REBRANDING:
New Audience
Higher Relevancy
Improved Brand Recognition
Improved Google Ranking
Streamlined Teamwork
There are 2 types of Rebranding:
Reactive: Reactive is when the company responds to something. Perhaps it responds to a series of events that have altered the company’s or a product’s image.
Proactive: If you do something proactively, it means you are taking action in advance, rather than responding. Proactive rebranding occurs when company executives are thinking ahead or see a growth opportunity.
WHEN TO REBRAND?
So now when we know the Importance of rebrand we should know when should we rebrand.
There are some factors by which we can decide that we should rebrand or not!
1. Brand Name Becomes Unfamiliar To Your Brand
One of the most obvious signs when to rebrand is a suboptimal brand name. What seemed like a great name 15 years ago now no longer represents what your brand is about.
A strong name is the foundation of your brand story. It’s your brand’s calling card that appears front-and-center on every touchpoint your customer engages with. Your brand’s name should be unique, differentiating, and, above all, memorable.
If you do decide to rename, you may find it’s harder than it looks. Beyond the difficult task of finding a name that is both unique and meaningful, there are the considerable challenges of trademark vetting and URL research.
2. Outdated Business Card or Website
If you cringe a little when you reach for your business card, or if you feel like your brand should come with a disclaimer about needing to be updated, it’s probably time for a rebrand. Being embarrassed about your brand doesn’t always indicate the need for a comprehensive rebrand. It could be that your brand’s visual identities simply need a refresh.
After all, if you’re embarrassed about your brand, it’s likely others in your organization are embarrassed as well, and this can be a major drag on both external promotion and internal morale.
3. Got Mixed With Other Brands
Another way to know when to rebrand is when your brand starts looking like every other brand.
When you don’t have clearly articulated differentiators, sales and business growth can be extremely challenging. It’s important that both your employees and your customers understand why your brand is superior to the competition.
At the end of the day, no competitive advantage is as powerful or sustainable as a strong brand. A strong brand enables you to compete whether you have a tangible advantage over your competitors or not.
4. Complications Issues In Brand
Keeping a brand focused over time is challenging, especially for large organizations that have many stakeholders with competing interests. Whether the result of unchecked growth or simply a mismanaged brand, a lack of brand focus poses serious challenges to your brand’s effectiveness.
The more complex your brand, the harder it is for customers to understand. If your brand’s complexity is making your audience’s eyes glaze over, it’s probably time to take a step back to simplify and focus. And a rebrand is the only way to get this type of perspective.
5. Introducing New Business Strategy
Another sign of when to rebrand your business is when your business model or strategy changes.
Why does your company exist? Where is it headed? How will it get there? Which values define your company culture?
Clearly articulating these guiding thoughts is the starting point for any rebrand, especially those inspired by a change in business strategy. Your brand compass provides a foundation for your brand’s many other components and charts a course to your brand’s future success.
6. Changed The Location Of Business
Another sign of when to rebrand your business is if you’ve moved or expanded beyond the city or state where your business started.
Regional businesses are often faced with the reality of a rebrand when faced with expansion. If your brand’s name is tied to its place of birth, a rename will probably also be in order.
As the foundation of a comprehensive rebrand, in-depth customer research allows you to pinpoint the unique challenges of the audiences in your newly defined territory.
7. Previous Negative Image
Another sign of when to rebrand is that you need to disassociate your brand from a negative image.
Rebranding is often the simplest and most effective remedy in these situations, beginning with an internal brand audit to assess where and how deeply the associations run.
A comprehensive audit of your brand’s many touchpoints will provide important insights into precisely where the negative perceptions lie.
8. Changing Price
If the market price for your products or services seems hopelessly fixed, despite the rising costs of materials, a rebrand can be an effective way to break free.
That’s because strong brands are more than just sleek logos and clever taglines. They have significantly more pricing power than weaker competitors.
The pricing power that strong brands command helps them dominate their respective markets, revitalize underperforming assets, and insulate against competitive threats. Pricing power drives growth like few other market factors.
9. Wants New Customer
If you’re trying to wrangle the attention of a newly profitable audience, it’s probably time to rebrand your business.
With brand tracking, you can monitor the motivations, preferences, needs, and buying habits of new and existing customers and adjust your brand experience accordingly. Staying on top of demographic shifts is good business, after all. A rebrand lets you redefine yourself with the goal of reaching these new and untapped audiences.
10. Hiring Talented Workers
The final sign of when to rebrand your business is that you’re failing to attract top talent. The best talent wants to work at the best brands, after all.
A strong employer brand will attract the most motivated and talented folks from the competitive job pool. It will help to ensure you’re interviewing candidates who are aligned with your values and ready to deliver on your brand promise.
Once you’ve decided to move forward with a rebrand, there are a few important things to keep in mind. If you’re going to invest the time and money it takes to rebrand, it’s worth it to do it right.
So you should know how to rebrand?
HOW TO REBRAND?
Here we are discussing about how to rebrand? We can rebrand by some factors. These factors will help you to rebrand.
1. Understand Your Brand's Vision, Mission and Values
Before you rebrand, it’s crucial that you clearly understand your company’s mission, vision, and values. Consider and assess what makes your company special. Why does your company exist, and what values are essential? What is your company’s brand voice? The words, tone, and voice you use for your brand must match your messaging. These form the foundation that gives you a solid base to build your new brand. No rebrand can be successful without this foundation.
VISION:
Vision acts as the North Star for every action your company undertakes, so it's critical you have a firm understanding of your vision before moving forward -- additionally, perhaps over time your vision has changed. That's okay, but it's vital you redefine your vision as quickly as possible to ensure all your employees are making decisions with that vision in mind.
MISSION:
If vision is your what, mission is your how. Maybe you're still going in the same direction, but the way you're getting there has changed. Ultimately, your mission is your company's roadmap.
When your mission changes, your messaging needs to change as well -- making it just as crucial as vision during a rebrand.
VALUES:
Your values act as the why behind your brand. They're why you're working towards your vision, and why you're dedicated to your mission.
But, as brands expand and change, some of their founding values might become unsustainable. If you can't support your old values or you've come to prioritize new ones, you'll need to update them to reflect what your company actually values today.
As your vision, mission, and values change while rebranding, the way you convey these aspects of your company will also have to change. The vocabulary, tone, and voice you use for your brand have to match your message.
2. Research On Audience, Market and Competition
Before you rebrand, do your due diligence.
Research what your competition does. Determine how you stand apart from your competitors and what your true value proposition is. Be aware of what’s trendy, and make sure you adopt a trend that makes sense for your company. Your new brand image must be fresh and relevant but not so of-the-moment that it ends up looking dated too quickly.
First of all, you need to reestablish your target market. Look at:
The age range of your customers
What gender they are
Where they live
What they do for work
Their economic status
What interests and hobbies they have
What education level they have
What personal and business affiliations they have
Take a close look at the competition too. Is there a new company on the scene offering products and services similar to yours? Study what’s working for them as well as other competitors and see if there are any commonalities there to influence your rebrand. Remember that even if you do draw inspiration from similar companies to make sure that your branding design, concept and messaging is unique and stands out from the crowd.
3. Collaborate With Your Team
Your brand may be one of your most important company assets, but just as valuable are the people that help grow your business every day. Your marketing strategy should account for those people. Include voices from across your company: some of the best ideas and most valuable feedback are found in departments you might not expect.
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It’s easier to rally your company behind a rebrand that was a true “team effort.” Give your employees a say. They will be the faces and voices that represent your brand to your customers.
4. Figure Out Your Uniqueness
Answering these questions and focusing on what makes you unique is a crucial aspect of getting a customer to choose you over the competition. A successful rebrand should draw even more attention to your uniqueness.
Here are a few ways to identify what makes you stand out:
List all of the features and benefits that are unique about your product or service when compared to the competition.
Identify what aspects of your product or service can’t be copied, duplicated or reproduced.
Define what emotional needs your product or service meets from a customer perspective.
Define what’s in it for the customer.
5. Redesign Your Brand
Redesigning your brand is a big undertaking, one that can cost you brand recognition and organic search traffic in one fell swoop. So, if you're redesigning your company, make sure you have a plan for recovery as part of your post-rebrand strategy.
You can identify these aspects by making a list of all the places and times your customers might come into contact with your brand. If you’re unsure of what these touchpoints are, put yourself in the customer’s shoes. Ask:
Where do I go when I have a problem that needs solving?
How do I find the product or service that solves my problem?
How do I decide what to purchase?
How do I interact with a business after the purchase?
Things you should consider:
Name. On the whole, if your name still fits, your best course of action is to keep it. But if your current name is a mismatch for your company identity, it might be time to go back to the drawing board.
Logo. This should be simple, memorable and appropriate for your target market. It should also be adaptable for the various channels that your business uses.
Color palette. Your brand should have three colors: base, accent and neutral. The base color should reflect your personality. The accent color should pair visually with the base color and the neutral color acts as a background to complement and enhance the base and accent colors.
Typography. Like color, the fonts you choose should match your brand’s personality, while being accessible to your audience. In addition to your logo font, you should have 2-3 fonts to use as main text font, headline font and accent font to make the text stand out.
Imagery. The pictures and graphics you use on your site should support the core message of your brand and reflect your target market.
6. Rebuild Your Reputation
Your business reputation makes its way into every facet of your business’s existence. It both impacts and is impacted by the way people read your emails, interpret your social media posts, talk to others about your business, and more. This is why reputation is so important in business, and why it is your responsibility to exercise the aspects of reputation building that are in your control. This post will guide you through steps you can take to strengthen your company’s reputation.
There are many factors that affect your business reputation—both online and off. Some are in your control, others are in the hands of others. Below is a list of factors which are in your control, and some steps you can take in each area to strengthen your company’s reputation.
High Quality Products/Services
A Positive Customer Experience
Share Your Expertise
Show Your Confidence
Showcase Your Culture
Nurture Your Relationships
Provide Good Customer Service
7. Manage The Rebrand
A rebrand is often a complex and lengthy endeavor. Without a careful plan brand strategy, a well-managed process, and a strong marketing strategy covering all marketing channels, the rebrand can quickly go off the rails and impact your market share and business negatively.
Set deadlines and mitigate going down those pesky rabbit holes with a well thought out project plan.
8. Successfully Launch The Brand
Even the most incredible rebrand is wasted if you never actually launch it. Make sure you plan your rebrand launch and be prepared to explain why you rebranded.
Minimize the risk of customer confusion through a carefully planned launch that showcases the story behind the rebrand.
There is a general order in which your rebrand should be rolled out. Internal audiences need to know first, followed by external audiences in order of the importance of your relationships. For example, you might show your rebrand to sponsors or key customers before you unveil it to the general public.
Start by listing all internal and external sources who need to be informed of your rebrand. This may include:
Board members
Partners
Donors
Sponsors
Employees
Customers
Community
Media
Influencers
Once you’ve identified your rebrand launch audiences and the order that it will be unveiled, you need to work on telling the story behind it. Focus on why you’ve decided to rebrand, the thinking behind the new look and what it means to the future of your brand.
One way to build excitement around your relaunch is to involve your influencers. Share your updated brand identity with them and give them permission to drop hints and sneak peaks through their social channels. If you have a new product, show them how to use it and then let them talk openly about how much they love it, and why.
Once your launch content is in place, plot a timeline that maps out when each piece is being delivered based on your need-to-know sequence. When this is done, you’re ready for the big reveal. The important thing now is to be swift. Too gradual of a rollout will mean having two brands live at once which can confuse customers. Keep the timeline for public unveiling short – two or three days at the most.
Rebranding can be a big undertaking, but a fresh approach and a new look can excite and re-engage customers while helping you reach new audiences. Use this guide to establish your reasons for rebranding and the right approach to take, then follow the steps to implement a strategy that propels your company into the future.
Note: All the images used in this article are taken from Pexels.com and are completely free to use.
