Things To Consider Before Rebranding
While rebranding can be a fantastic way to breathe new life into your business, it can also be one of the biggest challenges a business will ever face. If you are considering a rebrand for your business keep the following tips in mind.
If your current brand is outdated – Times change and in order to be successful your business needs to do what it can to keep up. If your business has been around for more than a few years and your brand is starting to appear outdated rebranding may be necessary in order to remain competitive. If you have a loyal customer base already partial rebranding is a good idea, as this will allow you to build on the reputation you already have while adjusting to a more modern look.
If your business is merging with another – Business mergers almost always require a rebrand, and if you are merging with a business with a stronger brand than yours you may need to be willing to take on theirs. If neither business is particularly well known, choosing a new brand to represent the newly merged company can be a great way to make some waves and generate fresh interest.
If your business reputation has been tainted – If something unpleasant has happened with your business and your reputation has been tainted, rebranding may be the only way to recover. Even though you may still have a lot of loyal customers it will be difficult to get new ones if your business is closely linked with some sort of scandal. If you are rebranding to distance yourself from a tainted reputation make sure that your new brand looks completely different from the old one.
If your business is changing – Sometimes a business needs to change direction in order to grow and thrive, and taking on a new brand can be a great way to embrace the new version of your business. Regardless of whether your business is branching out into new markets, embracing new technology or taking a more environmentally friendly approach, your new brand will let customers and potential customers alike know that things are now different.
If your current brand is waning – If your sales have been consistently declining and nothing you do seems to help, rebranding may be your best option. Creating a fresh look for your business can be an effective way to start over as well as entice potential new customers to check you out.
How to go about it
Research – Talk to your employees, customers and business partners to get advice about what they like about your current brand and what they would change. Ideally your new brand should encompass all of the good things about your business while making improvements wherever necessary.
Set clear goals – Regardless of why you are thinking of rebranding, it is important that you set very clear goals; otherwise you may find yourself needing to rebrand again sooner rather than later.
Communicate – Don’t just change your brand and not tell anyone, as this can mean losing business. Talk to your customers well in advance of your rebrand and let them know that you will be switching over to a new look. Be honest with them as to the reasons for your rebrand and reassure them that the things they love about your business will not change. Most importantly, be sure you let everyone who matters know exactly when your rebrand will be taking place.
Celebrate – Mark your business rebranding in style by holding some sort of celebration, as this will provide the perfect opportunity to introduce people to the new version of your business. Offering discounted prices or even freebies will help ensure that your event draws a crowd.
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