Hello everyone, Monday is a good time to make plans for the week ahead, and maybe even for the longer term. It could be time to start making changes in your company.There are times when change is necessary in all facets of life and work. Many times in business, these changes come in the form of rebranding.
Rebranding or more recently, digital rebranding may occur following an acquisition or a merger, the development of a new corporate vision, or as a way to turn around from a mistake or damaged reputation.
It takes time to develop a new name, logo design, website, style guide, and brand guidelines for your business. Understanding the best rebranding technique to use will be essential and greatly improve your chances of success.
Let’s take a dive into the rebranding mindset, learn the guiding principles, and find out some ways to give your business’ brand a facelift.
First, let's answer the first question you might have.
Out with the old, in with the new! It’s easy for rebranding to come off as simple as a shiny, new logo ornamented across various marketing channels. On the visual front, this is what consumers see. However, rebranding is much more than new visual assets; it’s a strategic re-thinking of the brand that aligns values with content. It's important to link your story, be aware of your products' positioning in the market, and comprehend the thoughts and needs of your target audience. The next step is to use all of this data to create a new, current image for your brand.
As your business evolves, you want to evolve and change with it. It’s common for businesses to create a new identity as a strategic way to elevate their struggling or outdated brand. Implementing a well-planned rebranding strategy can produce outstanding results and increase revenue for your company. A hastily implemented or badly funded rebranding effort, on the other hand, would probably come across as careless and pointless and won't likely strike a chord with customers.
You notice that over time all your competition has developed the same look and feel, a similar font, the same house style, and almost the exact same brand colors. Perhaps rebranding would be a nice way to differentiate yourself from the competition? Whether this is a good idea depends on your position in the market. Are you a market leader, that is, a well-established, well-known brand? Or do you have a unique take on the market as an underdog?
Rebranding will always impact your existing audience. There will be some opposition to a new appearance or name, and your brand familiarity may temporarily decline. However, rebranding might be more beneficial for you if you are a challenger brand and want your new branding to reflect the creative thinking you bring to the table.
You are trying to engage millennials with your dog biscuit company and you’re conquering the UK market. Your branding, however, is not performing well among your latest target territories. There’s a reason why the same toothpaste is called Pepsodent in the Nordics and Prodent in Benelux. Different branding styles work for different markets and audiences. If you are serious about the potential that your new audience has and you’re confident that changing your branding will make a positive impact, go for it.
You’ve introduced some prominent new products or services to your portfolio which are performing great. You are getting new customers, new interest, and are considering changing your branding to reflect your new offering. For example, if in the past your main business was legal advice to mid-sized companies and now half of your business comes from offering financial and strategic consulting to start-ups, maybe your logo should no longer be the same – this may very well appear as misleading to your new customer segment.
If you’ve had the same branding for 20 years, and it still screams early 2000s in the same way that glittery blue eye shadow does, maybe it’s time to breathe new life into it. Take the time to think about what type of brand look you’d like to achieve.
Even if you created a brand in the 1990s that was as sensitive and forward-thinking as you could, there's a chance it won't meet the requirements of the 2020s and 2030s. Just take a look at the numerous well-known food companies that were forced to reconsider their packaging due to complaints of racism and cultural appropriation.
This one’s an easy decision – If two companies join forces, that most likely means some changes to strategy, product, and service focus, target markets or segments. And all those changes are solid triggers for rebranding.
It's not a good idea to rebrand if you're tired of the way your brand looks and feels and lack the motivation to produce content or marketing materials. You risk confusing and alienating your clients if you rebrand needlessly. You want to avoid this at all costs. Instead of rebranding, you would be better off developing a new marketing plan.
You’ve had a few high-profile press blunders and feel like the whole world is mad at you. Influencers are calling you canceled and tell everyone to avoid your products and services. It can feel enticing to rebrand your whole show to start with a clean slate. No more past mistakes, nice new name and look… But it’s not a good idea.
People will find out and lose their remaining respect for your brand. The best way to deal with a crisis is to listen to feedback, make changes internally to avoid making the same mistakes in the future and apologize for what you did wrong.
New management, shareholders or high-level leaders come in and they want to make their mark on the company. Preferably something concrete and visible to show everyone the company is shifting gears. How about modernizing the look of the brand?
Maybe, maybe not. If the new investment or personnel change is part of a wider organizational restructure where the strategy adapts, mission evolves, and overall direction of the brand changes, fair enough. The brand style needs to reflect that. But if the changes are more like tweaks, don’t change the branding. It will confuse your audience and you’ll risk losing brand recognition and awareness.
Okay, you've realized that it's time for a change in your company and you're ready to take decisive action. That's great! Here are
The process usually begins with a determination of whether you need to start with what you have, or begin afresh with a completely new design.
From start to finish, your rebranding should be well-thought out with a unique purpose, an execution strategy, and exceptional marketing.
The process starts in the research phase, where you reanalyze your brand. Determine your mission and values, along with your target audience. Research the market, as well as your competitors and partners.
Don’t overlook your employees in this process. Clearly defining all stakeholder’s needs can help you make the necessary assessments and gain greater understanding of your brand. Talk to employees, plan a focus group of existing and potential customers, evaluate your company’s relevance and what you need to do to regain relevance or remain relevant.
With the needed data, you can rebrand to improve your message, set your brand apart from the competition, and help your marketing/sales teams create the needed brand awareness.
It starts with promotional materials, but goes further into branding updates on all digital channels and more – ensuring your brand resonates with your employees and your corporate culture as well as your target audience. You will want to begin with a revamped mission statement, and continue on as you redesign marketing materials, including your logo.
A digital logo redesign brings the bold impact needed to your rebranding. You’ll need to decide if you simply need a refreshed logo or a complete redesign and how your new design can impact your business as you move forward. Once your digital logo redesign is complete, you can move on to recreate your brand’s style as well as your website, app, social media, and more.
As you begin the rebranding process, keep our customers informed as you cater to their needs and rebrand accordingly. While your brand facelift should attract new customers, you also want to keep your existing customers.
Always keep in mind their preferences and what made them loyal clients in the first place. This, of course, means maintaining the trust of your existing customers, while you create brand recognition and develop trust with new customers.
Show your customers where you stand, whether you have partnerships with well-companies, support charities or NGOs (non-governmental organizations), or sponsor community improvement efforts. Letting your customers know what you do “outside” of your business is an exceptional way to build trust and grow your customer base.
Be well-prepared as you get ready to introduce your "new" branding. Your audience will only become confused if your marketing initiatives, news releases, social media messages, and other promotions don't provide a clear message to them.
Before making any modifications or promoting them, properly communicate your rebranding initiatives. Keep your message concise and unambiguous.
Your rebranding should demonstrate positive changes for your company. Expand your brand’s appeal, grow your audience, and show off your progress as you take your business to the next level. Share your motivation with your audience, demonstrating where you’ve come from and where you want to go – as well as how your brand is making a difference in the community and beyond.
The OctoStrategy team wishes you creative ideas and success in bringing them to life. Remember: a well-executed rebrand can allow your business to become the leading voice in your industry.