Re-branding is an effective way to change your target market, so if your company isn't attracting the customers you want, try something new! Re-branding should not be seen as a panacea for new management or internal issues. Because re-branding takes time and effort, changes will occur over time rather than immediately.
Re-branding is an internal change that involves recreating your company's identity and can occur at any time or multiple times throughout its history. The decision to re-brand your business simply indicates that your company is growing or changing, not that it is failing. So, before you start re-branding your business, make sure you have the time, resources, and creativity to do it right.
It is difficult to tell a brand story that is worthy of your company and resonates with your client. This process should include high-level strategy, extensive research, careful planning, and team-wide collaboration, especially if you are doing a complete re-brand.
Here Are 7 Branding/Re-branding Strategies
Start with your Vision, Mission, and Values
If your company does not already have a clearly defined mission, vision, and set of values, now is an excellent time to gather the team and develop these critical brand cornerstones. Always ensure that the Re-branding Strategies are consistent with the company's core beliefs.
Have a Holistic Strategy
Re-branding is about the overall look and feel of the brand that you represent to the world, rather than just a new logo or website. Ascertain that your brand's strategy is consistent and cohesive across all elements (logo, packaging, signage, flyers, advertisements, and so on) and channels (digital, social, brick-and-mortar presence, etc.).This is especially important to keep in mind if you're doing a partial re-brand because the new brand elements must work with the old ones.
Analyze what to keep from your Current Branding
Before you throw out everything, think about what is already working well in your brand. Generally, you should keep at least your company name. Some elements of your current brand should ideally be retained so that when you rebrand, there is a sense of continuity and you do not lose the elements that already resonate with your target audience. Simply put, if something isn't broken, don't fix it.
Analyze the Market and Competition
Investigate what is working among your competitors, market trends, and new branding trends to ensure an informed and contemporary upgrade. However, if the latest branding trend does not speak to your company's values and brand identity, avoid it.
Make this a Collaborative Process
Involve key stakeholders from the beginning to gain their support and feedback. Involve all company departments—leadership, business, design, engineering, and marketing—and use this as an exercise to strengthen company culture. You can even poll your customers on various branding elements such as logos and taglines.
Manage the Re-branding Project from Start to Finish
A re-brand, especially one that drastically alters your appearance and feel, can be a time-consuming and labor-intensive process. This is why project management is critical to completing a successful re-brand on time and within budget. Project management can be as simple as a spreadsheet that records timelines, deliverables, risks (with mitigation plans), and team responsibilities for each work package.
Finally, Tell the World!
You've put in a lot of effort, so be proud of your new or refreshed brand. When showcasing the changes, make sure to share the why and how with your target audience in a transparent manner. This reduces the risk of your customers becoming confused when they encounter the changes, and it also strengthens their brand loyalty by involving them in your brand story.
Finally, re-branding is critical in shaping the right perception, whether your company simply requires a facelift or a completely new brand identity to reflect its evolution. Consider re-branding as a way to reinforce your company's identity and values internally as well as with your employees.
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