Rebranding can make or break any business!!
A brand has the capability to identify who you are and which type of experience you promise to your audiences, influencer’s and your clients.
Thinking to rebrand your business is a piece of good news!!
Aspiring to rebrand is not a bad sign; because most successful businesses do it, from startups to Fortune 500 companies. But, doing a rebrand means that your company has evolved beyond its previous identity & now it is ready to reach new heights.
Many entrepreneurs & business owners consider rebranding as simply modifying or changing the company’s name and logo. However, it is also true that a name and business logo are the ambassadors of a brand, so it’s important that both be strong.
Good branding communicates what your company is & what you serve for them. It helps to establish trust and credibility with your audience and with your clients. And because a brand evolves, many companies rush to rebrand their business.
Even the best enterprises change their brand identity. I.e., Google started the business with the name of “Backrub” It’s not unusual for a business to outgrow its name and look for a fresh, unique business name that helps to grow your business. Maybe it’s time that your company does the same.
Let’s know when rebranding is required and steps to achieve the success of your rebranding
Determine Your Present Identity and Decide What Your New Identity Will Be:
Decide first what will be your new identity & how do you achieve it to bring in presence!
What is running smoothly & what not? And it is the best stage to start rebranding your business.
If you starting a new business or making a plan or rebranding to the existing business, then take your enterprise culture into account by examining how your current brand or building a new brand could fit your needs better. By organizing your dreams and repurpose them.
Before going to rebranding, remind yourself of what your business’s mission statement will be, so decide what outcome you want to achieve from rebranding.
To make the best decision on rebranding you need to consider your loyal customers, audience, and current employee’s opinions to see what concerns and opinions they may have. And another thing is to measure your market to find out how your industry changed since you first started your business and find out where your product or service fits in the industry.
Decide When Rebrand is Necessary
These will be applicable for:
Give importance to timing when you’re planning to rebrand. So, if you want to know if a rebrand is a right move, here are seven reasons why it might be.
Here are the four primary motives to play out a rebrand:
This variance implies that organizations are often left behind and find themselves stuck in the past. Always make sure to keep branding images as fresh as possible by updating them to new versions very frequently. These upgrades will keep your brand more engaged with customers.
Rebranding of business will also be a great hit if you are considering acquiring the market to a great extent if your brand had faced significant reputational damage which provides you a fresh start.
Ex: “Capitol Hill” had spent lots of time in the (negative) spotlight & it inspired the social media giant to tell a new story with its branding.
In today’s marketplace, several new opportunities emerge and disappear in a flash. So decide to offer new products or expand into new areas and this process always requires a fresh rebrand.
A brand is more than a logo and a set of guidelines. According to the research, 77% of B2B marketing leaders say, branding is critical to the growth of their businesses.
Companies will often adjust and rebrand their corporate identity in order to put themselves ahead of the competition and connect on a deeper level with their potential audience & with their clients.
The first step to rebrand is a detailed analysis of both your audience and the market. Some tools and services help brand strategists gauge public perception of your brand.
Here are some strategies which help you:
Surveys are an excellent way to understand how audiences perceive your brand. Also, apply market segmentation methods to better understand the perspectives of your wide audience.
Directors can easily conduct opinion analysis by doing online research. And another thing you can do is, visit key audience review platforms to audit how your brand is currently perceived.
Virtual focused groups are a great way to connect with your target audience. These days, many platforms make it easy to discuss your brand.
Refine Your New Mission and Values
Your business vision, mission statements communicate the core of your business to your potential audience and clients.
As a 1st step, identify a compelling vision that guides your brand. This vision represents your imaginary world which you want to serve for your potential audience & clients.
The vision statement must be crystal clear and inspiring. Always add ambitious statements to guide everyone’s decisions that you make for your brand.
A mission statement must be more practical than your vision. It gives a view of what your business serves for your clients & audience.
Rebrand leads to updating your brand vision, mission statements, and values by applying each to your company name, brand guidelines, and updated voice guidelines.
If you want to change your brand name, choose some name that helps to identify easily to your audiences and remember your business.
To choose an effective name, do some brainstorming sessions by focusing on groups that have your potential audience & your clients. Choose a name that reflects on your vision, mission, and values that you drew in the previous step, including any feedback from the audience, clients.
If you are conducting rebranding for your business, bring all the Ideas & updates to live by redesigning your site. Branding guidelines incorporate colors, icons, images, fonts, etc.
Always create guidelines that describe how your brand communicates with your clients, audience, and influence people to perceive your message.
In the rebranding process, exhibit strong guidelines that help to bring your brand to life.
Once you set up all the guidelines & new identity in one place, the next step will be to bring your ideas to life with a suite of collaterals. And the collateral material includes such:
You should work on creating some physical marketing materials and templates such as:
Any commodities that you need at events, business meetings, conferences, for employees, or to your audience should be updated with your new brand and design.
You also need to manage & create a complete suite of digital materials which includes:
Now everything in place, it’s time to launch your brand.
Businesses must be able to conduct a rebrand logically and cohesively. If you blend with your old and new brand at the same time, you’ll confuse and reduce the powerful impact your brand reveals.
Successful rebranding requires perfect planning and patience.
I hope that this piece helps you by giving you a good introduction to the complex and powerful world of rebranding.
While designing your brand, just be honest with yourself, your audience, your employees, and your clients about what changes should happen and how all the changes will be implemented.
Dollarbird helps you with branding & rebranding for your business, we suggest the ideas, strategies, and a way to execute it with the help of our experts. We ensure that we give 100% success in rebranding your business.
For more information contact us at firstname.lastname@example.org.
You can also visit our website at https://www.dollarbirdinc.com/
Rebranding can make or break any business!! A brand has the capability to identify who…
March 4, 2021 | 8 Minutes to Read