Most first-time entrepreneurs and business owners juggle several priorities while starting a new business. During this struggle, branding is often neglected, and you will need rebranding to boost your efforts to grow your business.
But before moving forward, it would be better for us to know everything about rebranding. So, let’s go:-
What is Rebranding?
Rebranding is a strategy that involves changing your company’s corporate image by developing a new name, symbol, logo, and visual assets like marketing materials.
So, the fundamental objective of rebranding is to create a new and differentiated brand identity in the minds of consumers, investors, and prospects.
It also includes competitors, employees, and the general public. Hence, by taking the help of a brand marketing agency in Bhubaneswar, you can help your small business by creating and improving the brand.
You can also rebrand it and help evolve your brand’s visual identity. Now, it is time to learn about some more basics:-
Why is rebranding necessary?
Most companies evolve over time and often stay competitive. It happens because they manage to evolve their brand and branding. It happens for several reasons:-
- You no longer like the old logo of your company, or its brand aesthetics no longer represent your company’s products, services, and values.
- You are planning to expand the scope of your business and enter a new market, and your business name is also very limiting.
- Your company’s results finally made you realize your brand is not working well enough to get your name in the marketplace.
The truth stays hidden for so many entrepreneurs, and the plain truth is that several companies rebrand. It also includes those that are successful now in rebranding, and it is the secret of their success.
Several popular examples of rebranding include Dunkin’ Donuts, Weight Watchers, and Unilever, along with several more companies.
Rebranding your company will work wonders if it is trying to modernize. It will also differentiate itself from its competition and even be able to escape lackluster competition, as was the case in Uber’s Rebrand.
You can take the help of a brand agency that can help you with some branding suggestions that might help you a lot.
When you should consider branding?
Rebranding is quite complicated, sometimes leading to a bad or negative reputation. Rebranding can prove costly for your company’s reputation if you are not careful.
The rebranding will not require a complete brand overhaul, but you have to make some meaningful changes to help build a new brand identity when you rebrand.
In the process, you don’t have to change your company’s name to rebrand. So, carefully consider all your assessments and reconsider whether rebranding is right for you.
The right rebranding strategy will be able to put some new energy into your business, but it needs to construct your overall business strategy and marketing strategy for that.
Rebranding Strategy with Examples
To understand their worth, you can look at some popular companies’ Rebranding Strategy Examples. Now take a look here:-
- Changing your logo
One of the main rebranding strategies is changing your company’s logo. A new logo will let your consumers know your brand identity is completely different.
You can make your logo look more attractive by making it sleeker and more stylish and using some new colors to make customers fall for it.
You should change your new company’s logo to match the new identity of your company that you are remarketing with the brand.
To make your brand more attractive, use your brand’s vision, mission, and values to inspire your new aesthetics.
Bath and Body brand, also known as b.a.r.e, represents itself with a hand-crafted or drawn logo that gives an authentic and down-to-earth feeling to everybody looking at it. It is just like the ingredients in its products, which is why it became so popular among its customers.
- Shifting the brand position
You can do more than change your brand’s logo and shift your brand’s positioning. Yes, the content you are marketing for your brand needs effective communication to send a specific message.
The message can be anything, whether it is about your brand’s mission, vision, or values. Shifting the brand positioning will inform your new and old customers about your company’s ideals, goals, and long-term objectives.
You must re-establish your unique selling suggestion if you are willing to shift the brand positioning. You have to take stock of what distinguishes your brand from the crowd.
Sometimes, it will even mean admitting that a competitor has a leg up in a certain area. This particular acknowledgment will help you to better connect with the target audience, and it will also help you to understand your position in the market.
- Creating new ads
If you plan on rebranding, you must know what your brand’s logo and message will sound like when broadcast to the general public via new ads.
Hence, it would help to create new ads keeping your customers and clients in mind. All these ads will communicate the new changes in your brand efficiently.
They should also clearly communicate to the customers and clients that the new changes in the brand also mean that the quality of the products and services has improved for good with the new changes in the brand.
It will make customers and clients more interested in what your brand sells. Besides that, it will also help you to draw in a new demographic and reach a larger audience.
The rebranding of Burger King is one of the best examples. They did it whenever they thought it was time to rebrand their company’s logo to make it more attractive for the customers.
But whenever they did, they effectively marketed their brand’s new logo. They knew the pulse of the customers and also knew how they were going to react to that.
So, their rebranding strategy worked when they created new ads for their brand’s new logo and look. But such a situation does not always work in your favor.
It can backfire, making the customers and clients lose interest in your brand’s products and services. Hence, you should always think and discuss well with the core group of your brand management before going for the rebranding of your company.
- Changing the voice of your brand
When it’s time to rebrand, you must also change your brand’s voice. Your brand’s voice is the perspective that helps you write the marketing content.
Your brand’s voice can be witty, casual, or formal. If you are considering rebranding, changing your brand’s voice makes sense.
Thus, you can announce your brand in a new tone of voice, and if you have planned and designed the voice well, it will certainly click with all your customers, even the prospective ones.
You can take the example of Dove-The beauty and self-care brand. It is well-known for its uplifting and powerful voice, encouraging customers to embrace their inner beauty.
When they changed the voice of their brand, it worked well in the company’s favor. The brand’s new voice became a sensation by building awareness about body positivity, self-love, and female empowerment. Changing its brand’s voice could promote its products and services and reinforce its time-tested values.
Besides the strategies and the examples of rebranding, you must also plan step by step for rebranding your company. You can even take the help of social media marketing for that purpose.
To rebrand your company, you have to do the following:-
- You have to re-establish the audience and market of your brand.
- Redefining the vision, mission, and values of your company.
- You can rename your company during the rebranding process.
- You also have to reconsider the new slogan of your brand.
- Rebuilding the identity of your brand.
- Tracking the sentiment of your brand and staying ready with back-ups plans if the sentiments are not in favor of your brand.
- Planning a successful launch.