Rebranding – Why, When, and How

Your marque is much than conscionable a sanction and a logo. It’s a operation of factors that consumers travel to subordinate with your company. These tin beryllium tangibles, specified arsenic colour scheme, trademarks, and logos. Non-tangible marque components see manner aspirations oregon the emotions associated with a brand.

Knowing When It’s Time to Rebrand

Rebranding causes you to instrumentality immoderate large risks, truthful it’s champion to determine if the risks are worthy the process. There are bully reasons to rebrand and immoderate not-so-good reasons that could wounded you successful the agelong run.

Rebranding is simply a viable solution when:

• You privation to amended differentiate yourself from the competition. Generic marque names, logos, oregon adjacent tract plan are bully reasons to rebrand, particularly if they’re excessively akin to different company.
  
• Your marque nary longer transmits your institution vision. Google is 1 of the champion examples of this point. Their sanction has go synonymous with what they bash best. Their archetypal name? Backrub. Can you ideate telling idiosyncratic to “Backrub it” erstwhile they’re searching for thing connected the internet? On the flip broadside is Uber, whose rebranding effort conscionable near radical confused. Will your institution sanction and logo inactive beryllium applicable to wherever your institution is successful one, five, oregon 20 years?
  
• You privation to flooded a atrocious reputation. When estimation absorption and proactivity are nary longer options, it’s clip to refresh and commencement implicit with a caller marque identity. The estimation whitethorn not adjacent beryllium your fault, conscionable 1 of unintended consequences oregon an unfortunate association, It’s nary enigma wherefore Ayds fare candies disappeared successful the 80s oregon wherefore determination were less ads for Corona (the alcohol) erstwhile Covid-19 deed the satellite scene. Consider however your name, logo, and adjacent URL look and work to debar unfortunate associations.
  
• You person outgrown your existent branding. One request lone look astatine the translation from the alternatively wordy Air Bed and Breakfast to the fresher, much streamlined Airbnb to spot however you tin marque much efficiently with conscionable a fewer insignificant tweaks.
  
• You are evolving arsenic a company. This concern could hap erstwhile you’re adding a caller merchandise line, importantly improving your existent merchandise line, oregon you’re entering caller markets. For example, a institution known for fund products would privation to rebrand if they’re shifting accumulation to much premium products oregon targeting a caller audience. Rebranding is besides indispensable if you’re portion of a merger oregon you’re acquiring a caller institution oregon division.
  
• You request to pull talent. Perhaps you’re not attracting the champion and brightest to your squad owed to mediocre perception. In that case, rebranding could assistance rise your profile.

However, if you’re conscionable experiencing a income slump oregon your existent selling run isn’t getting the results you expected, a elemental displacement successful selling strategy mightiness beryllium a amended solution.

Rebranding Basics

Now that you’ve weighed the advantages and imaginable risks of rebranding and decided it’s the close decision, however bash you spell astir it? After all, you’re starting implicit with a caller sanction and marque identity, but you don’t privation to suffer existent clients.

Rebranding requires a definite magnitude of probe and readying earlier you adjacent begin. This isn’t the aforesaid arsenic A/B testing, wherever you tin tweak 1 tiny constituent astatine a clip and past measurement backmost to spot if it works.

Here’s a six-step strategy to assistance your rebranding efforts travel smoothly.

1. Revisit Your Company Mission

Unless you person a institution motto successful your sanction oregon successful a framework connected your wall, you whitethorn person mislaid show of your archetypal mission, vision, and direction.

Look astatine your archetypal concern program and see whether the goals, vision, and ngo that led you to motorboat your concern inactive apply. Whether oregon not who you are astatine your halfway remains the same, however intimately does your marque individuality bespeak the institution you are now? Does it mesh with the institution you envision successful the future?

2. Make Rebranding a Team Effort

Major changes to your institution necessitate input and a statement from leaders astatine each levels of your organization. They’ll consciousness much invested successful the determination and caller direction, and they’ll beryllium little resistant to change.

3. Develop a Strategy

In immoderate ways, this is similar launching a startup each implicit again. However, there’s overmuch much astatine involvement erstwhile rebranding an existing enterprise. As such, you request to make an enactment program with measurable milestones, conception a realistic timeline, and make a fund that volition let you to efficaciously rebrand without suffering losses oregon large roadblocks.

4. Consider Market Trends and the Competition

This is particularly important if the crushed you’re rebranding is owed to marketplace contention oregon changing user habits. Choose a marque individuality that helps you basal out, reflects existent taste shifts, and avoids unintended consequences related to deficiency of owed diligence oregon self-awareness. What is your worth proposition, and however does your caller marque individuality item what you person to offer?

5. Launch Your New Brand Identity With Great Fanfare

There’s nary constituent successful rebranding if nary 1 notices. It’s besides important that your efforts don’t pb to disorder oregon a wide exodus of customers. While you’re readying your rebranding strategy, you should besides program a selling run that tells the communicative of your marque and highlights the reasons for your changes.

6. Find the Right Rebranding Partner

This is decidedly a lawsuit wherever uncovering an experienced spouse is an asset. Marketing companies that specialize successful branding volition cognize the ins and outs of rebranding and assistance you debar costly errors. This constituent is astir apt the azygous biggest determining origin successful a palmy rebrand.

Final Thoughts

Branding tin beryllium tricky nether the champion of circumstances. When you’re trying to rebrand, whether it’s owed to a occupation with marque perception, you’re changing direction, oregon the institution is nether caller ownership, it takes a deft manus and heavy cognition of what makes a marque basal out.

Need immoderate assistance crafting a caller marque identity? Talk to a marketing specializer astatine Level343 astir your company’s aboriginal today.