Many businesses undergo rebranding for several reasons. Some companies rebrand simply because of an outdated image. Other companies do it because they are merging with another firm. While there are some that rebrand because of a bad PR crisis.
Whether you're rebranding because your name is tarnished or you need to update your image to fit the current times, a fresh start always benefits businesses.
What is rebranding?
This is a process of redeveloping a company's image. It's a strategy in which businesses redefine their identity, logo, colors, culture, or a combination of each. It's a way to reposition the company's name on the market.
Are you thinking of updating your brand image anytime soon? Below is a list of the 3 helpful ways to undergo rebranding.
But before we do, here are four benefits of improving your company's image.
- Rise above your competition – Rebranding is the most effective way to set yourself apart from your industry competitors. You develop your voice, image, and culture that your target audience can relate to.
- Stay relevant – Trends change with time. Your logo might have been a hit in the 80s, but the fire may have fizzled out today. Rebranding keeps your image current.
- Expand your demographic – Your new look could finally attract a different demographic you've been trying to appeal to.
- Show new products, values, and culture – Your company may have grown and progressed internally. Still, many people won't notice that if your brand is stuck in the old times. A rebrand shows consumers how your business has evolved.
Find out your demographic
You've done your market research and actually found out that your consumers are not what you thought of. Sometimes, magical things like that happen. It's not a bad thing, but you also want to reestablish your primary audience.
Luckily, you have your analytics to help you reframe your strategy.
Go back to the drawing board and create a new strategy to attract your desired demographic. Analyze your shoppers and the other places they buy from other than you.
Redefine your company's culture
Your vision, mission, and values make up your company's culture. When rebranding, it is critical to look at these three parts. They are not constant. They are, like anything else, susceptible to change because your company is evolving.
Your company's vision statement is your lighthouse. Your guide. To know where your business is going, you need to fully understand your vision.
Your company vision will reflect on how you treat employees to your website's redesign.
Your mission is how you go about accomplishing your brand's vision. It's your turn-by-turn navigation on how to drive your company in the right direction.
When you update your vision, it is also a must that you adjust your mission.
Your company values shape your entire work culture that impacts not just your marketing strategy but your whole business plan.
But as your firm has grown from a small desk in your garage to what it is now, your core values will look and feel different. You'll need to make sure to update your values to reflect where your brand stands today.
Rethink your slogan
Your slogan should reflect your updated vision and mission. The new tagline reflects your brand's purpose. Unlike other changing your vision and mission, updating your motto can be a bit more fun and less serious.
Remember, slogans should be short and catchy. But, as with every aspect of rebranding, you should be careful and mindful.
Here are some reminders to help jumpstart your creative journey of updating your slogan.
- Be assertive
- Use poetic language
- Be instructive
- Flatter your customers
As you dive deeper into your rebranding process, here are additional resources for you to access and serve as your guide.
- Develop your buyer persona. This will help you further understand your consumers and how to connect and reach out to them.
- Understand how color theory Knowing how colors affect people's decision-making process is vital in the success of your rebranding.
- Focus on your typography. Create a sense of professionalism and recognition while attracting consumers. Understand which typeface fits your brand's culture and values.
- Design an eye-catching logo. Your logo is the image consumers will see and know about you. It's a bridge that connects your brand to your consumers.
PRO tip: Setup your guidelines based on your rebranding strategy. This will come in handy when you redesign your website, business cards, brochures, and other materials.
Need help coming up with rebranding ideas? Send us a message. We're here to assist you as you find your new brand voice, image, and identity.
We've helped health and fitness brands and other firms with rebranding, web design, and social media campaigns.