With the current state of the world, it is not far fetched if companies want to rebrand to stay relevant in their industries. It is one of the marketing strategies that brands can use to bring themselves back into the limelight, especially after a crisis. Rebranding is supposed to improve the status of your business, but that’s if you do it the right way. So, in this article, you’ll be introduced to a few tips to put you on the right track.
4 Tips For Rebranding Your Business The Right Way
Re-evaluate Your Goals, Mission, and Vision
The objectives you set for your company go a long way to set the stage for its operations. It defines what you stand for in the industry and what you have to offer. Your business may have veered off track from those objectives. If so, you will have to go back to the drawing board.
Since a rebrand affects your company at its core, it is always a good practice to revisit the basics. Redefine what you’re doing, why you’re doing it, and how you should be moving forward. Be sure to include a plan to assess your communications, with internal stakeholders and your desired audience. Establish the tone, including language and voice, you’ll use to communicate your improved brand to your audience.
Refine (or Redefine) Your Target Audience
A target audience is crucial when it comes to marketing your products and services. It informs you on what type of strategy to use, and the channels by which to convey the information. So when rebranding, reevaluate your target audience and, indeed, the market in general.
Will you need to redefine your target audience? Your company may have evolved to serve a different customer than that one you originally intended to support. Do some data mining to figure out exactly who your serve. These days there are so many ways to gather information about your audience, competitors and the industry at large. Use this data to help you connect better with your customers.
Develop A Better Visual Identity
The visual identity of your brand includes things like the logo, its colors and imagery. But before you begin to redefine them, evaluate them, and find their strengths and weaknesses for you. So many businesses focus on the visual aspects of the brand as part of the rebrand, when this is not always something that needs to be changed. If it is a good idea to change them, then go right ahead.
When redesigning a logo, try to make it simple, yet impactful or meaningful. Try to make it adaptable so that your clients can easily remember it. Choosing the right colors to represent your brand can be tricky, and so you might want to get some external help from professionals. After all, your brand colors will appear on everything your company produces, from the website to physical marketing pieces like signage and custom flags. When developing a rebranded visual identity, don’t forget about the typography and shapes as well, as they must also appeal to the eyes. And be easy to understand!
One of the riskiest things that brands do to reinvent themselves is to get a new name. It’s risky because it can cost you brand recognition and organic traffic search if it’s not executed correctly. You can decide to change the name altogether or tweak the old one and use it in new ways. Other tips when renaming include saying what you do, using acronyms like KFC, putting two words together, or looking at other languages. Just keep in mind, a rebrand that includes the renaming of your company can take some time for your audience to connect with, so be patient if the new name doesn’t quite stick immediately.
There is nothing wrong with reinventing your business to stay relevant in the industry. If anything, it gives you the opportunity to serve your customers better. However, it can be risky, and that is why you should do it the right way, and these suggested tips can get you started.