If you’re looking to steer your business in an entirely new direction, a rebrand can seem like a magic bullet. Something that will help you shrug off the old stale shell and get a fresh new start.
While it is true that if carried out successfully, a rebrand can have a really powerful impact on your bottom line, thinking of it as a magic bullet is the wrong way to go. In fact, if executed poorly, a rebrand can leave lasting damage on your company reputation.
Before you take the plunge, it is very important to carefully think and plan out every step you’re going to take. Here are four things you absolutely must consider before deciding to rebrand your company or product!
1. Why rebrand?
A rebrand is a major decision that will impact all aspects of your business, and it is important that you consider carefully the reasons behind it. There can be a lot of reasons you need to rebrand. Your company can be suffering from a damaged reputation, there might be confusion in the market with you and another similar brand, a new product or service that requires a shift in your target audience, and more.
As you can see, all of the reasons above are meant to be transitory. In each of the above cases, a rebrand will help your company move in a new direction. If you’re simply looking to rebrand without such a reason, then it’s better to focus on other aspects of your business to increase profits.
2. Your audience and brand perception
When you rebrand, it is not your company, but your audience and brand perception that is the most affected. Some important questions to ask at this stage include:
- Who is our current target audience?
- How much of this will I retain/lose after my rebrand?
- Is the new audience better than this one?
- What is our current brand identity/perception with our audience?
- How is this likely to change after the rebrand?
These questions are vital because they will help you uncover and understand the real perceptions of your audience. The insights you gain here can be used to strategically implement your rebrand.
A rebrand is not just designing a new logo and office stationery. Your brand is your identity, and needs an intense amount of planning, work, and dedication. You are changing everything, from your brand culture and values to even your tone of voice.
When you rebrand, it’s not just your marketing department that takes up all the work. Every single employee of your company is impacted, and it’s better that you get them all involved in the process.
Lastly, you need to develop a comprehensive communication plan. How will you communicate the change to everyone – your customers, your business partners, the entire world.
One of the most important elements of a successful rebrand is communication. The best way to do this is to have a before and after plan for your customers where you give them a ‘heads-up’ before the change happens, and all the information you can after it has happened.
Let us know if you found these tips helpful in planning your rebrand. If you’re still confused or need help, feel free to reach out! As one of the top design firms in the market, we’re the experts you need!