What is Rebranding?
A company is more than just a memorable logo or name. Building a brand requires narrating a business’ story, ethics and culture and solidifying its reputation in the marketplace. It helps to distinguish the company and makes it a part of the brand culture.
Rebranding a business essentially means paving a new path for the brand. It is all about changing the core values, updating the ambitions and fine-tuning the image of the brand that reflects these changes.
Here’s when you would want to rebrand
- The vision of the brand is changing
- Your company wants to improve its reputation
- You want to appeal to a new set of audience
- Your business has changed due to merger, acquisition or has gone in a different direction and approach
- Your business needs to keep up with the changing trends
Do you want to know the red flags that call for rebranding? Check out our latest article here.
Now that you know about rebranding, let’s look into the process of rebranding.
The Process of Rebranding
- Do the Market Research
- Know your Competition
- Recognize your Uniqueness
- Make a List of Assets that Need to be Redesigned
- Make Sure that Everyone is Lined-up
- Take your Brand Public
A successful rebranding starts with determining the changes in aims and goals. Knowing the reason to rebrand is an important aspect of rebranding itself. There are several reasons to rebrand, but most importantly, it needs to serve a purpose. A successful rebranding retains the current customers as well as stimulates a fresh audience.
Conscious awareness is the key to a successful rebranding strategy. Questions to ask at this stage:
- What is your brand’s purpose?
- What is the key business?
- What do you want your brand to be known for?
- Why do you want to rebrand at THIS stage?
Before investing time, effort and money into rebranding, make sure that you know what the result looks like and if you are ready to risk it to take your brand to the desired level.
You should consider hiring specialists or marketing firms like Vowels to help through this process. It can be easy for a large company to get overwhelmed with options – making it a tedious task.
#2. Do the Market Research
Get your customers in the loop and study their behavior carefully. Does your current image resonate with the beliefs of the target audience? If you are targeting a different set of audience, the marketing team needs to study its behavior carefully. Categorize the audience in groups and create their buyer personas.
It is also essential to get as many inputs from the current customers. You can use surveys or focused groups to confirm their opinions. These observations can become the backbone of your rebranding strategy.
#3. Know your Competition
Before you decide to rebrand, have a very detailed and vital understanding of the current branding strategies of your competitors. It will help you to draft a unique branding strategy. Take an audit of the competition and assess how your brand voice and visuals can differ and win over theirs.
Tip: Make sure that the branding changes stay relevant for at least 10 to 15 years.
#4. Recognise your Uniqueness
Once you study the competition and customers, Examine how you can use the USPs as a focal point of the rebranding process. Remember, you can’t appeal to everyone. The point is to focus on the specific niche of the audience and their needs.
Narrow down the identity of the company in a few keywords. Distinguish what makes you better than your competition, This further research will help you determine what makes you stand out.
#5. Make a List of Assets that Need to be Redesigned
Make a list of the material that needs to be rebranded – from websites to posters and blogs. Experiment with a new design and ask yourself if it fits with the vision you carry.
Think about the crucial brand touchpoints – any point at which the customer interacts with the brand. It can be your packaging design, creatives and much more.
#6. Make Sure that Everyone is Lined-up
A rebranding strategy fails if the employees are not convinced with the updated brand values and strategies. Allow them to speak and hear their views. It will set them on par with the rebranding and also give fresh perspectives and ideas for rebranding. Get your employees excited and comfortable with the change.
#6. Take your Brand Public
Finally! As the rebranding strategy is implemented and everything is on board, make sure to make it public as soon as possible. You can observe its impact thereafter. Don’t make slow changes, as it would only confuse your audience. Use rebranding as a means to generate publicity and conversation among the customers. Your audience will be more inclined to trust you if your brand is transparent. Emphasize why your business went for a rebranding.
No strategy is complete without feedback. It is essential to get updated feedback and response from the audience on the rebranding and analyze the business performance over some time. You can use surveys, social media or other mediums to do so.
Rebranding is a huge step and can be overwhelming, but understand that it is a fresh and exciting phase for your brand. Done right, rebranding can help a business to navigate its route and take it to new heights!
How can Vowels Branding Agency Help?
Rebranding the business is a tough decision. It’s important to consider and determine that it will be the best move for your business in the long run before you start working on it.
Rebranding can get a bit overwhelming, especially for a company that is well-established or looking to brand for the first time. Taking the help of marketing experts is essential and that’s exactly where we can help. Without professionals, you might miss certain aspects of branding that can cost your brand its reputation.