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Why does a company or organization need a rebrand?
Rebranding is a process by which a company or organization changes its name, logo, identity and image.
There are many reasons why a company might choose to undergo a rebrand. A brand may have become old and no longer accurately represent the purpose or values of the company. Or there may be a change of ownership and the new leaders want to leave their mark on the organization.
Rebranding can be an opportunity to refresh and update a company’s image, making it more relevant and attractive to consumers. It can also be an opportunity to launch a new brand strategy that better aligns with the company’s goals and objectives. Rebranding can help a company or organization stay competitive and relevant in today’s ever-changing marketplace.
Related: Does Your Business Image Need a Refresh? What to do when it’s time to rebrand
What should you pay attention to before choosing a new brand name?
Rebranding your business is no small feat. It requires a significant amount of planning, strategy and research. However, if done correctly, it can add value, market share and customer engagement. Rebranding can be a way to let investors know you’re serious about growing or addressing negative associations with your current brand. Rebranding can also help you set yourself apart from your competitors.
It can also be a way to enter new markets or change the way your customers interact with your product. However, rebranding is not a decision to be taken lightly – it can be costly and time consuming, and there is always the risk that the new brand will not resonate with your target audience. As such, it is essential to consult with branding experts and conduct extensive market research before any rebranding occurs. Only by carefully planning and executing a new branding strategy can you maximize the benefits of rebranding for your business.
To successfully rebrand your business, you need to thoroughly analyze your current brand. This includes an evaluation of your brand identity, brand equity and brand positioning. Once you have a good understanding of your existing brand, you can start developing a new brand strategy. This strategy should be based on your goals, target market and unique sales proposition.
Once you’ve developed a detailed brand strategy, you can make the changes. This process requires the development of new marketing materials, a redesign of the website and possibly even a new logo. Rebranding your business is a complicated and time-consuming process, but if done correctly, it can be efficient in setting you apart from your competitors.
Related: The 8 Rules To Follow For Rebranding Your Business (Infographic)
The do’s and don’ts of rebranding
Think about the long-term rebranding. Avoid new names, titles, copy and other brand elements that will one day become obsolete or not the core business. Naming with the future in mind can save you the hassle of another rebranding effort in the future. Also consider how the brand can evolve and build flexibility into the design. A well-thought-out brand strategy helps ensure that a rebranding effort is successful today and tomorrow.
If not done correctly, a rebrand can cause brand breakage, with old elements of your past branding creeping back in, or your brand becoming inconsistent. That is why stopping trademark breakage is essential immediately after a rebrand. The faster you can get everyone on board with the new look and feel, the easier it will be to stay consistent in the future. By taking decisive action and being vigilant in maintaining the new standards, you can prevent brand breakage and keep your rebranding on track.
Related: Facebook’s rebrand to put much-needed spotlight back on the metaverse’s creation
Maintain consistency in purpose and messaging
The brand strategy should include a clear purpose and message for the rebranding and a plan to consistently communicate the new branding to the key target audience. Once the purpose is clear, it is also essential to ensure that the messaging is consistent across all touchpoints. The last thing you want is for your customers to be confused about your brand. A successful rebrand has a clear purpose and a consistent message that resonates with the target audience.
In addition, the brand strategy should identify the customer journey experience and how the rebranding will turn customers into company advocates. By taking these steps, you can ensure that your rebranding is successful and builds long-term brand equity.
Related: When to Consider a Rebrand (and How to Do It Right)
Communicate and maintain trust with your customers
Rebranding can be a huge undertaking for any business, big or small. It can be daunting and expensive, but it can also efficiently revitalize a business. Done right, a rebrand can help attract new customers and strengthen existing relationships. However, it can alienate customers and hurt your bottom line if done wrong. That’s why it’s so important to communicate with your customers throughout the rebranding process – letting them know what changes are happening and why they need to maintain trust in your business.
After all, your customers are the lifeblood of your business and without them you wouldn’t be doing business. So don’t underestimate the importance of keeping them informed during a rebrand. It can mean the difference between success and failure.
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