Rebranding is where your company changes its corporate image or organization. It might create a new logo or develop a new name. During the rebranding process, visual assets and marketing materials are completely revamped.
The purpose of rebranding is to give an existing company a new identity. It is to refresh or change the way customers, competitors, employees, investors, and the general public sees a company. Here are some tips to help you along your journey to rebranding your company's marketing.
Why You May Want to Rebrand
The world is constantly evolving. To stay competitive, your business must evolve.
You may no longer like your logo. Your company's aesthetic brand may feel dated. It may no longer align with the ideas and values of your customers or products.
It may feel like your brand no longer sets you apart from the competition. Or the name of your business may no longer adequately describe what you do.
Rebranding is not solely for struggling businesses. Successful businesses rebrand frequently. It can help legacy businesses escape a lackluster reputation.
The Challenges That Result from Rebranding
Rebranding is complicated and can be expensive. You don't need to overhaul your entire brand. But the changes you make must be meaningful. After rebranding, you should come away with a new identity.
Determine in advance if rebranding is right for your organization. You may need to rebrand, but is now the right time to do it?
When done correctly, rebranding can invigorate your business. But it must compliment your overall business strategy. Successful branding is a holistic approach to a marketing strategy.
Set Yourself Apart from the Pack
Generic branding is a common mistake for new entrepreneurs. Generic logos will hurt your business. You end up competing against other companies with similar names and logo designs. Brand recognition is impossible when everyone's logo looks the same.
Your customers can't be loyal to you if they can't tell you apart from your competition. It is even worse if you and your competitors sell the same products and services.
Most businesses don't foresee the need to rebrand. Unfortunately, their initial branding was done so poorly that they need to rebrand to keep growing.
Innovative rebranding marketing strategies can give your business a chance to stand above the competition. Some companies in the UK turn to whiteboard animation UK professionals to help them rebrand intelligently.
Whiteboard animation allows for the creation of explainer videos. Diagrams, words, and images are presented sharply on a white background. Your customers can hear spoken voiceover scripts above the animation. These can propel clever rebranding because they simultaneously help customers engage all of their intelligence, including visual, auditory, and kinesthetic.
Invigorate Outdated Branding
Was your business founded in the 90s? If so, your color palette may make your business look outdated. Your outdated branding may clash with your current culture and sensibilities.
It can be challenging to evolve branding materials to keep pace with technological trends and design. However, it is a must to compete in a modern business environment.
Rebranding can help modernize your business image. This will accelerate growth. Every day your business continues with an outdated brand, you lose ground to the competition.
This is especially true if your competition invested money in professional designs. Unfortunately, your organization went the cheap route and used generic logos and designs.
Your marketing team must do your rebranding with a purpose. They must create a new marketing strategy built on your unique vision for your brand.
Don't see rebranding as a failure. Fortune 500 companies rebrand, especially when their brand recognition decreases. If your customers are leaving you for your competitors, you have to figure out why. Innovative businesses understand that a good brand design could be the difference between success and failure.
Brand to Reflect a New Mission
Your business may have started selling cookies. Now, you are offering pies, cakes, and Sunday breakfast. If your old branding focuses solely on cookies, your customers won't know they can visit you on Sunday for breakfast.
Look at your customer profile. If it has changed over the past few years, it may be time to rebrand to match your new customers.
Conclusion
When it comes to rebranding, to thy self be true. Understand your company's mission and values. Then create a brand that reflects who you truly are.