A brand is basically the identity of a company. It could be anything that customers associate with a company, such as a logo, personified image, products, or services. Not soon, but after some time, companies feel the need for rebranding. But why? What makes them feel to rebrand their image?
Multiple reasons contribute to rebranding requirement:
- Strategy to come out of bad reputation: Some companies are unfortunate in terms of effectively launching their brands as a solution to existing problems. But when they fail, a new strategy needs to be adopted to overcome a bad reputation and move ahead with a new image.
- Market expansion: When companies feel they need to enter different marketplaces, they cannot do so unless their image fits local customers’ needs. Hence, a revised and new look could help them launch their brand in other marketplaces successfully.
- Outdated image: Sometimes, customers do not want to stay longer with a company that doesn’t want to change with time. Hence, companies feel the need to acquire a new image to stay updated with customer requirements.
- New Ventures: A company cannot diversify into different segments unless the company completely re-launches itself as a new brand. A new image would help customers understand that the company is ready to venture into different domains and wants to compete with other existing leaders.
But the issue is most of the time, companies only think of redesigning the logo or changing its color or changing the website completely. These are important too, but not only ways of rebranding.
Rebranding means a complete change of how customers and competitors see, feel, or engage with you. It covers everything, such as logo and website theme redesign, customer service procedure, ad placements, the message delivered, and the time when rebranding is done.
So how to effectively plan to rebrand your company?
- Storify Your Brand: You must showcase the evolution of your brand in the form of a story. Usually, the customers identify who you are and why your business exists with the help of a simple but effective story built around customer problems and your product as the solution. It helps in establishing an emotional connection between the brand and the customers and also enables a long-term relationship for future growth.
- Declutter Brand Name: Some companies try to use multiple brand names for their business, which do not work well when customers try to associate names with the brand. For example, FedEx once used too many names for different services, which created problems when customers tried to identify the company as a single entity. Hence, after years of research, they had to redesign their brand name and logo, which is considered as the best logo ever.
- Don’t Overthink: Sometimes, no rebranding is required. But companies overthink and believe to remain competitive; rebranding is the only way. This is where they might go wrong and create confusion among the already existing customer base. For example, when Radio Shack was struggling, the management tried to change the brand name to The Shack, but no brand offerings or philosophy were changed. It didn’t work out well, and they had to return to the original brand name.
- Create a Buzz: Use a creative promotional strategy to highlight the rebranding of your products and services. For example, if your watch brand stands only for the male segment, and it has been the way it is for many years. Suppose you want to diversify and create watches for female customers as well, then your ad has to be very creative and attention drawer.
- Boost Your Employees: Customers interact with your brand with the help of your most valuable assets – your employees. They are the brand ambassadors, and if you choose to increase employee engagement, then they will continue sharing a good image of your company with the prospects and people around them. As long as the employees believe in your vision, you are going to achieve customer engagement and retention objectives.
- Launch Time: Don’t be in a hurry when you plan to launch a rebranded image. An incomplete website might impact the entire launch day. Connect every dot and do not move forward with the launch unless everything is in place.
Suppose everything was fine, and you launched the brand. However, be prepared if you do not receive the expected engagement from the customers. Make changes or move back to the previous brand image as soon as possible to avoid any business impact. In case you are still confused about how to achieve rebranding, then leave worries for ONPASSIVE to handle. The company designs and develops AI-driven tools for automating business operations, and it uses various data points to recommend any change or redesign websites, products, or operations, such as customer service or sales.