Business branding is often necessary for both small and big companies. It shows what their business is all about and can often give consumers a better sense of what a business does in a changing market. Branding also provides a message and an image to all consumers. Your brand influences the reputation of your business, your target market’s choices, and the path that your business will take.
Brands are sometimes temporary. Small or big business may change their brand as their businesses evolve. There are also some cases in which brands are changed entirely.
Why Businesses Rebrand
Why do businesses rebrand? There are different reasons that this occurs:
- To stay up to date
- To differentiate your brand from your competitors
- To separate your brand from similar brands in other industries
- To encourage your current customers to engage with your brand again
- To update your product or brand, giving a more modern look to customers
Given the points above, rebranding should not be used a reactive strategy. There are many companies that rebrand proactively even though their current product or brand is doing well. A great idea to show your customers that you care to your customers about your business’ image is to continually improve your brand and to update your customers frequently on these developments.
There are many benefits that may come with rebranding. However, rebranding is not an easy task. In fact, it can even result in failure if it isn’t done properly. To help you make sure you’re on the right track, here are some essential factors to keep in mind to ensure that rebranding your business will be successful.
- Purpose of Rebranding
Before rebranding, make sure your purpose is clear. It could be that you want to target a different demographic, or you could want to create a brand new image for your business that differs from your competitors. You should have a defined and specific purpose in order to make the structure of your new brand and to stay on the right track with a goal to success.
- New Vision of the Brand
If you already have goals and purpose, then you can start creating your vision around these. Your vision will distill you your new brand’s visual representation. By having a vision in mind, you will find it easier to develop your new brand according to your plans.
You need to make sure that everyone knows about your new brand when it is pushed live. Achieving your goals and vision shows that your business’ reputation is doing well. Also, letting your target market and current customers know about your rebrand beforehand will make them feel that they are more connected. In order to let the public know about your rebranding, you can organize an event, advertise the changes made, or update the media about it through the use of a press release.
Also make sure you notify the vendors you use to run or market your business. This is to avoid any confusion on updating your account and to avoid billing errors. It is even better if your vendors also have local businesses that are more agile so that they can quickly adjust to your rebranding efforts.
There are also things that you need to preserve when altering your brand. People will want to see fresh new graphics and colors that will justify the rebrand. However, they may not like it if your company is no longer recognizable with its old brand. That is why it is important for a business to have brand consistency. You should not overlook this when you are rebranding and make sure that your new brand is familiar enough to consumers.
In a company, you may divide the different tasks of rebranding and assign each task to a member of your team. Although this is a wise move, this may affect the consistency of your company. To help you make sure that you and your team are on the same track, you can make use of various organizational tools such as Templafy to help create on-brand documents to simplify the internal process of rebranding.
Rebranding gives you an opportunity to start testing new communication and marketing strategies. Comparing the metrics before rebranding and after rebranding is also a great opportunity for you. You can also make new experiments with fresh new channels. Your new brand should stand out over your competitors’ by offering new, attractive, and unique features. You can try experimenting with social media profile, posting witty ad copy, commenting on trending customer hashtags that are relevant to your customers, or organizing “behind the scenes” content as your post.
Rebranding can help your business in managing its direction towards success in achieving your goals. You just need to have a clear purpose and vision for your new brand. Keep these essential tips in mind when doing your own rebranding to help you with the whole process of transition.