Creating the Optimal Rebrand Strategy
Most businesses will face a rebrand at some point in time. It can be as simple as wanting a fresh new look to keep your business current. Or, if two companies have merged into one, a firm has a shift in target audience, or business goals have changed, then rebranding makes perfect sense. However, it is important to consider how to make a rebrand successful – and achieve the desired results.
This article will break down valuable advice on how to create a rebrand strategy that ensures your business the most success in the future.
Decide the Reason
Before making any decisions, you need to decide the reason behind the rebrand. There can be many reasons such as:
-A new law requiring you to change.
-Your current brand assets being out of date.
-Your brand not reflecting your business’ values accurately.
-The need to compete with other businesses.
-Moving into a new market.
-You have changes to the employment staff.
This list by no means covers the all of the reasons for a rebrand. So if you don’t see your reason on here, don’t panic. It’s imperative that before you take any steps further, you decide on a clear-cut reason for rebranding. Without a defining the “why,” you could waste valuable time and resources rebranding your business into something you don’t like or don’t agree with.
Do Your Research
Doing research on your business and your clients should be the next step. You need to understand the way people perceive your current brand and whether they view you as a reliable company. If you are expanding into a new market, you will also need to survey your new target market as well as other competitors in the space.
It is important to have an objective view when researching because you will see the company from an internal position, not an external one. An internal view will distort the perception you have about the company because you know the inner workings of the place.
It’s easier to conduct the research internally to save money, but consider hiring an outside, unbiased firm. Depending on the size of your company, this may help you in the long run. Many biases are removed when customers and employees are surveyed by a 3rd party.
Develop Your Brand Strategy
Armed with the knowledge from your research, you can move onto the next phase of rebranding. The results will give you an idea of how you fit into the overall marketplace. People will have a certain view of your business and working with the perceptions of the market is an important part in ensuring a successful rebrand.
In some cases, rebranding means moving away from how people already perceive the business. However, you can’t become a brand new business overnight. Don’t make up who you are as a brand. And, don’t be overly influenced by what people already perceive. It’s about finding that delicate balance. For example, if people think your company is the best low cost provider on the market – don’t suddenly raise your prices. Find other aspects that could thrive from change, and find a way to integrate those into your rebrand strategy.
If you can support your brand with data and information collected from real people, the chances of a successful rebrand will be significantly higher. The messages you convey will speak to the people who are directly within the market you have surveyed. Be careful not to stray too far from home to the point where your business is no longer recognizable.
Build Your Brand Identity
When you think of a brand, the first thing that often comes to mind are logos, taglines, colors, advertisements and images. These visual cues make a brand relatable and can communicate a deeper message when people see them. The shapes, colors, and typography used should all align with the new brand strategy.
While these things are important – it is worth noting that the logo, tagline etc. are not your brand. They compose your brand’s visual identity. What your company has to say plays an equally important role. Having a strong brand message that conveys both values and personality will enable consumers to connect to the human side of your company. Keep this in mind when building your identity to ensure your rebrand stays true to who the company is.
Build Your Online Presence
In the digital age, social media and your website will be two of your best marketing tools. Companies conduct business and communicate with consumers online. This makes having online platforms succinct with the rebrand strategy imperative. Whenever someone hears of a company they are interested in the first thing they will do is look at their website. The second thing they’ll do is look at their social media.
Building your online presence may sound simple enough, but make sure your company’s beliefs and values are at the heart of the rebranding process. Anything that is posted online should reflect your new visual identity and messaging strategy.
Create Marketing Materials
Once you have ironed out your identity and online presence, the next step is to create marketing materials to communicate your message. These can include a range of items like fliers, email marketing, online advertising, or trade shows. Your company’s marketing materials will depend on what industry the company is in. The marketing materials should have their roots firmly planted in your rebrand strategy.
Create the Launch Plan
The final phase of your rebranding strategy should involve information on how to promote your new brand. First, you need to launch the rebrand internally. Your employees are the heart of your company. If they don’t embrace the change, it will be harder to convince the outside world to embrace it.
Second, you will need to strengthen your new brand with other companies that you partner with. This plan should help to align your company’s reputation and experience according to what you want to achieve.
Third, your plan should be used to communicate your refined identity to the consumer. Why the change occurred, and what action they should take should be clearly understood. – depending on what the previous independent research conveyed.
If you follow these steps and don’t take shortcuts, you will not only feel more confident in the direction that your company is headed in, but also your company’s rebrand will be a huge success with customers and those in the wider market.
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