Business rebranding involves not just a logo change or redesigning of a website. It involves a complete overhaul of your brand, including the visual marketable assets that represent your company to reflect on your vision, and mission and adapt to the ever-changing market trends. It might be about time to change your branding strategy especially if you are managing a company that has outlived its image or is looking to expand to a new market, rebranding is your key. Follow the steps below to help your rebranding mission to be a success.
Understand Why You Need to Rebrand
Before embarking on the whole process of rebranding, get to know why you need to rebrand. Have you changed your audience base or are you perhaps adjusting to new dimensions of the existing clientele? If your position is, for instance, to counter negative perceptions people have towards your company, then organization public relations will be useful to you. Or just updating your brand to be more contemporary? A survey by Rebrandly has revealed that, out of 100 businesses that conduct a rebranding campaign, 77 percent do this exercise with a view of aligning themselves with company values and sitting in the market.
Conduct a Brand Audit
The pre-audit survey is a critical step in discovering the potential and the existing flaws of your brand. This involves evaluating visual design, language, and customer/consumer perspectives, competitive landscape. Submitting information includes customer feedback, competitor assessment, and Internet reviews. The importance of a brand strategy has been described in the article: ‘Companies that have good and defined brand strategy are 76% more likely to be better than their competitors’.
Define Your Brand Identity
Your brand identity is the essence of your entire blueprint for rebranding. This ranges from your brand’s purpose, beliefs, character, and voice. Safeguard the strategic alignment of the new project and make certain that your new brand name hits home among your target demographic. Brand identity should therefore be strong in that it should leave an impression and stir an emotion within the respective customer. For instance, whereas Airbnb repositioned its name in 2014 as a community-driven company instead of a mere rental company, its customer interactions improved drastically.
Update Visual Elements
Logo, color, typography, Website design, and other aspects also directly relate to your rebranding strategy. Make sure that these items are in synergy with the new branding efforts and therefore send out the right message to your target audience. One to constantly ensure the brand is recognizable cum recognized across all platforms that it is present on.
Communicate the Change
It can be equally disadvantageous if not accompanied by the right message to the customers, this is because; It is recommended that you put together a comprehensive communication strategy with which to explain the rebrand to your audience. a) Email newsletters, social media, and press releases: In order to ensure that it is clear as to why the change has occurred and to outline what the customer should expect in the future.
Train Your Team
Your employees are your brand advocates. Check that they appreciate all the changes in the new brand image and are ready to embody it. Organise seminars and workshops where you explain the new message, new image, and new policies or strategies for customer service.
Measure the Impact
Once you have done your rebranding, see how it influences your business results. You can measure participation and engagement through several visits to the websites, clients’ interactions, and product sales among others. Research by Forbes shows that on average brands that undergo a rebranding process are likely to record an enhanced revenue by a percentage of 10-20%.
Conclusion
That is why, rebranding is a strong lever, which can be used by companies that want to change and remain relevant on the market. When you understand why the branding change is necessary, you’ll also have to do a brand audit, and successfully communicate the change to the audience, you can create an efficient and capable brand that will be successful in the long run. Do not forget the fact that when executing a rebranding strategy, it is not all about the looks; it is all about using the brand to share the right story and foster relationships.