1. What is the Definition of Rebranding Strategy and When Does Your Company Need It?
2. When Do You Need to Launch a Rebranding Strategy?
3. Define the Goals of Your Rebranding Campaign
4. Building Beneficial Rebranding Strategy Plan That Works
5. Create a Rebranding Announcement Campaign
There is a strong brand behind every successful company. But what should you do if your brand isn’t working? Maybe it’s time for you to rebrand? What does rebranding mean, what are its core tasks and steps? When and in what situations do you need to consider rebranding? Does it help a business or harm it? All of these questions will be covered in this blog post. Keep reading.
Rebranding is a marketing tool for changing a company's brand: logo, slogan, brand name, corporate identity, packaging design, market positioning, and anything else that contributes to the image. This approach allows companies to change the impression of the target audience for better and maximize profits. However, the rebranding of a company doesn’t always bring positive results. If your global branding strategy is poorly thought out, be ready for failure.
Rebranding is appropriate in the following situations:
When firms merge or are acquired, rebranding is usually needed to assimilate the brand into the new organization.
If your company is struggling to overcome a bad reputation, a rebrand can help your audience see you in a fresh new light. Also, don't forget to work with your reputation management to keep your brand strong and positive.
For example, a company used to be engaged in the sale of building materials only, and now it is going to expand the area of activities and offer construction and interior set-up services. In such cases, it would be wise to announce the changes with the help of competent rebranding.
New values and goals of the company, another system of working with customers, the appointment of a new leader, etc. are also reasons to rebrand.
New products, models of goods, services, packaging, etc. appeared on the market. If a company does not correspond to changes in market trends, then rebranding will help to rectify the situation. Or a new strong competitor who has a more appealing brand has entered the market. If you don’t want to lose your position in the market and hand over the power to your competitors, you need to start working on a rebranding strategy plan.
In this situation, you should rebrand to better differentiate from the competition.
Different countries' markets may have different expectations. So, if you are trying to sell your products or services abroad, be sure to consider the cultural differences and respect them.
New CEOs breath new life into businesses, and a rebrand can steer it away from failures. In 1997, when Steve Jobs returned to Apple, the company was on its way to bankruptcy. And Mr. Jobs realized that if the shape of the Apple logo was universally recognizable, they should put it everywhere people could see it. However, the rainbow-colored apple would have looked silly and childish on their iMacs. So he changed the rainbow-colored logo to a more modern monochromatic version. This way, he changed Apple's perception in the public eye.
Tip: DON'T rebrand because of poor brand awareness or low sales. If these metrics are low, you are probably doing something wrong. Consider revising your current strategy and use different promotional channels. If you still decide to rebrand because of these reasons, the results might be even worse.
You might also like our article “Implement Account-Based Marketing Into Your Strategy to Get the Most Benefits It Can Grant.”
Make your rebranding strategy well-informed with the help of thorough research and clear goals. These goals may sound as follows: a company wants to expand its target audience and resist new competitors; a company wants to keep the current audience, but increase their interest in the brand, etc. Why is it important to have clear goals? Rebranding can change your entire brand identity or just refresh it. Once you know your goals, you can choose between two kinds of rebranding to focus on.
The total rebranding of the organization is carried out in cases when the company changes the area of activity, changes the product or service they sell, or enters a different market.
And if the brand name evokes only positive emotions among consumers, but the packaging design does not fit into the general concept, it is enough to make only minor changes, i.e., partial rebranding.
Also, pay attention to the following things:
If you need to do so, use all your media channels to inform your customers about it. You may face significant losses of visitors at first, which is normal in this case.
Companies often devote lots of resources to logos, and who can blame them? This graphic element is meant to serve as a visual representation of a brand. It should be well-thought-out and memorable. However, they often forget the fact that the logo rarely says much on its own. So, when it becomes the focal point of rebranding efforts, which it often does, brands in need of rebranding are missing the mark. If it's not a mistake you will want to make as well, keep in mind that the new positioning should serve as the basis for the development of a new logo for your business.
Read our blog post: “Building Super Effective Communication Strategy: the Ultimate Guide.”
Whether you’re just refreshing your brand or planning a complete recast, it’s always a smart idea to have a clear understanding of the desired outcomes.
Once you know exactly what you want to achieve, you need to put together a plan of action.
Before making any changes, take the time to get to know your employees (and company), clients, and competitors. If you are attempting to enter a new market, keep in mind that your research should include a new target audience as well. Remember, the more you learn, the more effective your rebranding strategies will be. So be sure to:
You might also like our blog post: “How to Handle Market Research to Find New Opportunities for Your Business.”
After conducting the research, define the benefits that make you different from others and rebrand according to them. Create a corresponding value proposition.
Rebrands are usually a ton of work. That is why you need to assemble the right team of experts.
Try to combine different specialists.
To keep up with the changes, everyone in the company should embrace them. Tell your employees about the rebranding and set new goals/create new brand book if needed.
You’ve worked hard, and now it's time to present your new (or refreshed) brand. However, the hardest part is yet to come, because you need to make people love what you’ve created. And that's not easy. When you present the changes, be sure to share the ‘why’ and ‘how’ with your customers transparently. Explain that rebranding won't affect your professionalism and service and that you’ve become even better.
Don't go all-in with rebranding. In case it ends up performing badly, you might need to get back to your old branding.
Once you are done with the processes above, it's time to announce your rebranding.
Prepare an email to your supporters letting them know that they are going to see some new things soon.
Instead of creating a beautiful email template, make your message as human as possible. As mentioned above, it is essential to sincerely explain why you rebrand.
You will still be sending different emails, so add a banner to your email signature saying you are about to rebrand. This way, everybody will be notified about your changes beforehand.
Read more about the benefits of email signature in our article “Ten Ways to Enhance Your Marketing Campaign With the Help of Email Signature.”
Place a notice on the homepage where everybody can see it. Consider adding one notice before and another one after a rebranding.
If you have a fairly active following on Facebook/Twitter/etc., be sure to announce your changes on these platforms.
One more great opportunity to announce a rebranding is with guest posts and press releases. This way, you can reach as many people as possible.
A lot of people think that branding begins with choosing a catchy name and ends with developing a logo. In reality, it's much more than that. Branding affects everything that reflects the company's image. But sometimes companies need to rebrand. Then they work on changing goals, mission, messaging, style, and anything else that contributes to their image.
When do companies need to rebrand? When they face challenges like merging with another brand, appointing a new head of staff, getting the wrong image in the eyes of the audience, making their business international, or having a need to catch up with the market.
How do companies create successful rebranding strategies? They follow these important rules: