Rebranding is not just a logo change
Everyone needs a change once in a while. We grow. We want more, better, different. Our priorities and values change. We see new opportunities. It is similar with brands. The world is changing. Markets, clients and technologies are changing. New challenges are emerging. Your brand should keep up with all that. Re-branding is a positive change that allows you to adapt your company to the new reality.
2 Types of re-branding
There are two basic types of re-branding:
- Revitalising – refresh your brand by giving it a new look and character
Change of target audience – when the market has saturated and the segment previously occupied ceased to be profitable, start looking for a new segment of customers who will show an interest in your offer.
Change of values – as the culture and environment change, previous values become less attractive and understandable for the customers, and thus their bond with your brand weakens.
Re-branding means marketing revolution. You need to figure out new ways of promoting your products and services, focus on different features as well as communication channels. It is essential to design an advertising campaign that will inform customers about the upcoming changes. You should remember that re-branding must be made quickly and smoothly to avoid operating two brands simultaneously. It may lead to confusion among your prospective customers and consequently a decline in visibility.
4 Steps of re-branding:
1. Determine the starting point
Thoroughly analyse the present state of your company, its products, clients and key stakeholders. Remember that to build a strong and expressive brand, every detail is important. Make sure that people responsible for re-branding are aware of the past and the future of the brand, that is its history and goals. It is also important to identify and analyse the current perception of the brand.
2. Examine your environment
Analysis of the inside as well as the outside environment are equally important. Determine the space which you can use to highlight your uniqueness. Do not forget, though, about the current trends in your industry.
3. Big idea
The new concept of your brand should creatively combine all elements and give it a distinct character. Your big idea should be easily adaptable to various types of media and manifest itself in all aspects associated with your brand.
4. Do not pass over
Make sure that the most important people connected to your brand were not taken aback by the changes. Reward your employees and key partners by presenting them with the effects of the changes a bit sooner than the rest.
“Consistent brand presentation across all platforms increases revenue by 23%” – Forbes
The complexity of branding is one of the key elements of creating competitive advantage. Therefore, it is crucial for the whole process to be efficient and effective. Do you feel like your company brand needs a change? Get in touch for a free consultation.
To appreciate the challenge of securing brand loyalty and why this is in decline, why not read our article here.