There are many reasons a company decides to rebrand. Maybe their consumer-base has expanded overtime or many new products and services have been added that the brand is no longer applicable. Perhaps, you’re no longer satisfied with your current name and logo. Or, you want to reach new customers and increase profit.
Whatever the reason, here are the strategies you can adopt to create a new brand identity:
Create a Solid Strategy
Rebranding is a major overhaul. It involves major aspects of your business, such as your marketing and clientele.
Before getting started, you must first draw up a concrete plan that you and your team will follow throughout the process. Many companies are surprised to know that rebranding is more complicated than just creating a new logo. Many things will need to be changed so that everything adheres to the new brand identity.
To make things easier, create a comprehensive timeline that lists everything that needs to be done. For example, you need to start negotiations for the new website design with a Bromley-based agency as early as possible. Set a time and date for your redesigned website’s launch.
Assign teams to undertake different needs for the rebrand. You may need to assign some staff members to call existing customers to discuss the rebrand and assure them that your business will continue to provide what they need. Identify which aspects of the business will be affected and start working on each one.
Know Your Customers
If you’re hoping to attract new clients to your business, you need to do your due diligence and research. Look into what’s hot and what’s not but make sure to pick one that fits into what your new brand will be like and type of customers you want to reach.
For example, if you want your business to appeal to professionals, a quirky brand with a funny social media might not work. While you need to make your brand fresh and modern, you don’t want to alienate your market. As a business owner, you need to understand your customers — both existing and upcoming — and what you offer them.
Look at What Your Competitors are Doing
If your business is sinking because your competitors have taken a larger slice of the market, then study their strategies. You don’t have to copy them to be successful, but analyze what they’re doing right that elicits a positive response from consumers. You may even find a gap in the market that have not been filled yet.
Publicize
Now, be ready for one of the most important parts of the rebrand: Let everyone know. When rebranding, negotiations with existing and target clients do not have to happen internally. Putting the word out there will encourage new customers to check your products and services.
Invite local journalists into your office so you can talk about the rebrand and discuss the changes. Use social media to market your business’ new identity. Send out e-mails to your contact list to announce the rebrand and offer more information about the business.
Why Are You Rebranding?
Rebranding will only succeed if you have a compelling reason for wanting to change. For example, if your current strategy is no longer working for you and sales have gone down, then rebranding might boost your profit again. However, rebranding may also do more harm than good. There have been instances of huge corporations changing their name and logo only to fail.
Don’t rebrand if there’s no reason to do it. Consider the existing customers that you may drive away by creating a new identity.
