When it comes to your business, have you ever thought something needs to change? Ever thought of trying new things for your brand? Shaking things up a bit? Sometimes, it can be scary but change could be necessary to grow along with your business and your clients. For that, one of the most effective ways to revitalize your company is through rebranding.
Rebranding is when a company decides to redevelop their marketing strategies, create a new name, logo or design; in other words, pursue a new identity without losing its essence. However, the intention is to create a positive difference in the mind of the customers and stakeholders. When this process is done correctly, it can be a game changer for the brand. Using the right look and messages to keep your main target aligned with the values and goals of the business. It shouldn’t be taken lightly, it’s not only about risking money and time, it will determine your company’s reputation leaving a mark on your audience.
But how exactly do you know when it’s time to rebrand? Why should you rebrand? Here are a few reasons why it might be time:
You’re thinking about changing your products or part of your service, colors, pricing or even introducing your brand to a new market.
It could help a company stand out in a crowded market, differentiating your business from others.
It could be a good strategy to adapt your brand to the evolution or growth of your customers, so they know that you’re committed to staying relevant and meeting their needs.
Sales have been slow or the brand awareness effort doesn’t seem to be paying off.
Still, rebrands can be complicated and carry big risks for your brand if you don’t manage this process with lots of attention and dedication. By analyzing every step and the current situation of your business, you may determine whether it is a good time to take the risk or not. Sometimes all it takes is creating a new Call-To-Action (CTA), new marketing strategy or doing some research to adapt your brand to the market.
Once you’ve evaluated that it’s time for a rebrand, what could be some steps to create an effective rebrand strategy? Here are some tips:
1. Do some research about your audience and market. Everything starts with good research about your current situation, taking into account your competition, industry and your client’s needs. This could help you stand out from other businesses similar to yours and elevate the position of your brand in the market.
2. Redefine your mission, vision and values. One of the most important parts of rebranding is aligning your brand messaging with its new visual identity. The look and feel of your logo and the colors you use portray a message deeper than meets the eye. Check out our blog on color branding to learn more. If your brand involves a team, they should be involved in every part of the process so the they can share their values and align them with the mission and vision of the company.
3. Update your social media. You should update everything from your website and all your social media accounts. Also, you should start sending the right messages to your customers and stakeholders insinuating that some changes will be coming. This will prepare their mindsets so there isn’t any room for confusion or mistrust.
4. Rename your company (if necessary). Even if this step is not always necessary, consider if it will be the best for the brand. It is very important to keep the name in line with all the new elements and changes you are bringing in. This step is the one that can cost you your brand recognition and organic search from your audience. So, if you consider this step necessary, make sure to make a “post-rebrand” plan to keep your brand safe.
Sometimes, taking a risk is the step you need to make a positive difference for your business. The power of rebranding is about taking risks and understanding that sometimes, change can be good and necessary for your brand. It can help you stay relevant and stand out from your competition. So, if you’re feeling stuck or considering changing things up a bit, now is the perfect time!
If you need help building a plan for rebranding and rebrand campaign for your business, Spin Nest Marketing is here for you!
Thinking about changing your brand colors? Check out these tips for choosing the right colors.