Rebranding just like evolution comes to us all: from our personal lives to relationships, and most importantly to our brands!
Rebranding is a necessary facet for the growth of every brand. Often times, there’s the need to break free and transform your brand to represent new values and mission in order to reach new goals and targets. Your rebranding can either revolve around a simple change in logo, or a complete overhaul of old values, reputation, and policies. Irrespective of your type of rebranding, this is a moment of truth for your brand. Not only will you have to critically analyze your aims and objectives, but also your overall reputation.
To help you successfully analyze and rebrand, here are the 7 amazing steps you need to follow. Before you jump on this bandwagon, here’s a question for you: why do you need to rebrand?
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When Do You Need to Rebrand?
You, just like many other brands, are mostly unsure of when to rebrand. Since rebranding too many times without a clear target can have an adverse effect on your brand’s stability, it’s vital to research and plan when rebranding. So, here are a few reasons why some brands take the step to perform a makeover!
A change in the target audience. Here’s an inevitable fact: as your company grows, there’s a need to target a broad audience. Adidas is a prime example of a company that rebranded itself to focus on millennials.
A new trend or new competitor. With time, you are no longer the “top dog” in your niche as competitors and technology keep on evolving. Therefore, there’s a need to rebrand in order to stay ahead of any technological shift that might give your competitors an edge.
Sometimes, an acquisition or merger is all the reason you need to rebrand. This involves changing the logo and revising the company’s policies and values according to the terms and conditions of the merger.
Lastly, Rebranding is also necessary when brands diversify into new product lines or niches. Irrespective of your reasons, rebranding requires strategic planning and strict adherence to the following steps.
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Steps to a Successful Makeover
1. Start with Self-Awareness
How can you attempt to rebrand when you haven’t identified what your brand represents? Surely, rebranding without self-awareness is a recipe for failure. So, before you dole huge amounts on rebranding, you need to understand what your brand stands for, and why you need to rebrand. Doing this will help you to envision the end result of your makeover. This is also the time to hire a consulting firm or a marketing team if you feel overwhelmed by the rebranding. For small scale businesses, however, introspection is all you need to complete this step.
2. Carry Out Market Research
Here’s the moment when you need to get in touch with your target demographics. Envisage if your rebranding efforts fit into their needs and wants. If you are targeting a new demographic, it’s imperative to carry out intensive market research via various strategies such as surveys, polls, and even focus groups.
3. Have a Wholesome Strategy
It’s not enough to get a new logo or change your website. This time, consistency and uniformity are key in creating a successful makeover. From your signage to the billboards and flyers to even your digital presence. Mind you, make sure your new branding elements are compatible with the old ones in order to foster a sense of trust in your audience.
4. Keep Your Stakeholders in the Loop
Do you desire to have a successful rebranding? Then, always take consideration of your stakeholders – employees, and shareholders before taking this step. Involve the different departments in your organization when rebranding. Also, your customers’ input is always valid. Create a poll or survey to see their perspective on it.
5. Discard the Irrelevant Materials
When rebranding, there’s no rule that says you can’t discard or transform some policies, and perhaps, your brand mission. Take note of recent market trends, and see if your past policies are outdated amidst fast-changing business practices. To ensure that you stay on track, ensure that your rebranding step doesn’t interfere with your core values.
6. Make it Public
Don’t dawdle. Once you’ve set everything rebranding step in order, make your rebranding public. It’s advisable to do it at once. You can try changing it within a week Mind you, don’t spring up the surprise on them. Start with short teaser emails to uint them of the upcoming change.
7. Get Feedback
This is the time to not only observe the acceptance of the makeover but also to get feedback from your target demographics. This will help you to re-strategize and utilize your rebranding efforts.
No doubt, rebranding is an important aspect of your organization, since it determines the success and longevity of your brand. So, take note of these steps and utilize them to get the full potential.