If your company has a well-established brand, you must know how much hard work goes behind the design and branding strategy. And if you are considering rebranding the brand image, there are various factors you need to consider.
Rebranding a company is not an inadequate consequence; in fact, most companies from small to well-recognized rebrand themselves at some point in the business. Rebrand often means that the company is evolving from the previous identity and is moving towards a new venture.
With the rebranding, you have the opportunity to strengthen the company’s image and presence in your customer’s perceptions. However, rebranding requires strategic planning. Therefore, we provide you with information on why and how you should go about rebranding.
Table of Contents
- What Are The Reasons For Rebranding?
- Rebrand To Distinguish Your Company From Competition
- Rebrand To Expand And Magnify Their Original Mission
- Rebrand To Give A Makeover To Your Outdated Branding
- Rebrand To Make A Good Reputation
- How To Rebrand: Step By Step Designing Of Your Brand Identity
- Final Thoughts
What Are The Reasons For Rebranding?
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Rebranding involves a marketing strategy of developing a new company logo, symbol, and new business name to create a distinct brand identity among consumers, competitors, employees, and other investors. It’s a savvy move often implemented by reputation management resellers. A brand identity is a lot more than a company’s logo and name; however, they both make vital fundamentals for any brand.
Rebranding is a crucial decision for any company, and it comes with its advantages and disadvantages. It doesn’t always mean to change the complete brand identity but to make meaningful changes to introduce the new developments in your company.
Therefore, you need to assess diligently whether your company needs rebranding or when the right time for rebranding is. If you employ the right rebranding strategy, it will complement your marketing and business strategy.
Rebrand To Distinguish Your Company From Competition
Mostly young and small businesses consider branding as the last step of their business strategy. They do not comprehend the branding value and indecisively turn to non-custom designs and generic templates to build their brand.
Generic branding is harmful to your business. Why? This is because it will not differentiate your business from the competitors due to identical names and logo designs. It will become difficult for consumers or investors to identify with your brand.
An intuitive rebranding strategy can offer an excellent opportunity for your business to stand out amongst the crowd. With a distinguished brand identity, your target audience can relate to your ideology and message.
Your brand should help distinguish your company while also appealing to potential customers.
Rebrand To Expand And Magnify Their Original Mission
Initially, your business began by selling customized tables and chairs, and now you want to expand your product offering and market share by adding electronic appliances. If your brand identity revolves around the chair and tables, the customer would not know that you are also selling electronic appliances. Thus, with rebranding, you can solve the crisis.
Therefore, it is essential to rebrand when you intend to target a customer with a new profile.
Rebrand To Give A Makeover To Your Outdated Branding
With advanced technology, there has been a significant change in the market related to brand designing. If you built your business brand ten years ago, it wouldn’t match the latest branding requirements.
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The color palette of the logo designs should fit the modern-day style and taste. Thus, your business needs to change and adapt according to modern trends if you want to maintain healthy competition.
Successful businesses rebrand themselves because they know that either a good design can make their business or break their business. Failing to do so can critically impact your business.
Rebrand To Make A Good Reputation
If your business is facing negative feedback and reviews from customers, investors, or employees, it is time for rebranding. It would help the customers to see your brand in a new and regrown brand identity. In this scenario, rebranding can help to turn your negative reputation into positive or neutral brand recognition.
It will help if you keep in mind that simply changing the logo and name is not rebranding. There are a whole lot of processes that require you to make adequate changes in your business strategy.
How To Rebrand: Step By Step Designing Of Your Brand Identity
Creating a brand identity that complements your customer and client is a challenging task. Particularly when you are doing a total rebranding, it involves considerable research, team-wide collaboration, and high-level and careful strategic planning.
1. Begin By Contemplating Your Values, Vision, And Mission
You must understand the mission, values, and vision of your company. It would help if you considered what values make your company unique and stand out among the competitors.
Secondly, consider the brand voice of your company. The voice, tone, and words you use to create your brand should match your mission and your company’s overall context.
2. Create A Holistic Rebranding Strategy
As we said, Rebranding is not just creating a new name and logo, but it is about providing a total makeover of your brand to show the world. Therefore, you need to make a cohesive and consistent strategy that spans all the brand’s channels and elements, like ads, flyers, signage, logos, etc.
If your company is working on partial rebranding, you should make sure that the existing brand matches your new branding strategies. The rebrand should blend wholesomely with what previously existed.
3. Analyze The Brand’s Market, Audience, And Competition
It will help if you do your homework before rebranding. You should do extensive research on the audience, market, and competitors. You need to determine where you stand among your competitors and your true value proposition.
Also, research what the latest trends in the market are. As you are rebranding, it is helpful to rebrand as per the market trends. However, don’t blindly go with all the market trends that don’t deliver your company’s brand identity. Your goal should be to make a long-lasting brand identity.
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Lastly, it is the audience for whom you are making so much effort. In the end, customers can make your brand identity successful. Make sure you test your rebranding assets with your target audience and customer base to identify your rebranding strategy’s success rate.
4. Team Collaboration
Rebranding is an essential decision for your company; therefore, it requires your company’s valuable employees’ collaborative efforts.
You should hear out your employee’s suggestions and ideas as it might help you in your rebranding and marketing strategy.
5. Renaming Your Business
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Let us consider some of the reasons why you need a new business name.
Your Business Name Does Not Reflect Your Business Mission.
Businesses grow and evolve as they process in the industry. The names they took initially were suitable to survive their growth. However, as a business goes through some significant institutional changes, it is required to rename to reflect those changes.
Trademark Issues
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There are times when more than one company is using a similar name. Due to this, one of the companies may receive a cease-and-desist letter to change the name. You need to protect your company’s reputation at such a stage, and a name change is your only solution.
How To Rename Your Business
Changing the brand name requires a lot of research and thought. That is why we offer you some ideas to rename your brand.
Think About Your Brand
Your business name should justify the representation and essence of your brand. Also, make sure that it symbolizes the public identity of your business.
Make Sure It Is Easy To Pronounce And Spell
In this online digital world, most people are going to search for your business online. An easy-to-spell and pronounce business name will help you in this category. Otherwise, customers will struggle to spell your name, and your brand identity will not survive for long.
6. Rebuilding Brand Identity
When you are rebranding, make sure you take appropriate actions on the elements like brand color palette and logo. Sometimes, the old logo works well with your new brand name. However, if that is not the scenario, you should consider the elements you want to keep and the elements you want to discard.
Some businesses include custom illustrations while rebranding their brand identity. Illustrations are graphics that help your brand and business to appear communicative and user-friendly. They influence, inform, and persuade the customers about your business prospects.
Style Guide
You need to create new brand guidelines or style guides. The brand guidelines include a set of rules followed by your organization’s members whenever they want to publish and promote your business on social media.
The style guide consists of:
· Brand Overview: What is your brand about? What are its goals and mission?
· Logo: Logo is the first thing that people notice. It should be of perfect size and adequately placed.
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· Color Palette: The colors should complement your brand’s message. It should not be too powerful or too dull.
· Typography: The font and typeface are important. Make appropriate use of headers and quotes in the right size and style.
· Images: The style guide should also include images. Make sure whatever image you use, the intended message is reflected in the audience.
7. Managing And Launching The Rebrand
Rebranding is a lengthy and complicated endeavor. It requires proper management to cover all the points of your rebranding marketing strategy.
Lastly, after all the hard work, it is time to launch your rebrand. When you display your rebrand to the public, make sure that it is transparent enough to show how and why you rebrand your company. This way, you will not confuse the customers with the changes, and it will also strengthen brand loyalty.
Final Thoughts
Rebranding your company is a declaration of the company’s determination towards more opportunities and growth. Whether your company requires a complete uplifting through a new brand identity or wants to make a few visual changes, rebranding is helpful if considered with the right strategy and careful planning.
