Last updated on November 21st, 2018
Businesses grow with time. They add new products or services to their profile, explore new markets and want to address a different set of customers. All these developments require companies to come out with a rebranding tactics. They need to project their brand in a new light. However, rebranding your business should be taken up carefully, with considerations for some basics.
Rebranding your business typically relates to changing the brand image of a company or an organization. The purpose of rebranding a business might vary from organization to organization and can take up different forms depending upon the objective expected to achieve.
For instance, some might go for a simple logo change while others might refurbish the entire philosophy of the organization. As a general rule, companies rebrand in order to shed out their negatives and come up with a fresh new face of their company.
Here Are 9 Golden Rules That Defines Rebranding Of A Business
01. Ensure A Valid Reason For Rebranding Your Business
As a business owner, you might have your own reasons as to why you want to rebrand. However, it is very essential to chalk out your goals and purposes before initiating anything or else the idea to rebrand will only hamper your business.
Knowing your objectives well in advance will prepare you better and make you more focused towards the complete act. Some of the probable reasons as to why you should rebrand could be:
- Shed out the timeworn and contemporary image of your company
- Give value and appeal to new set of product launches
- Recover from a negative image
- Showcase the good points and overcome the odds of an either a bankruptcy or a partnership breakage
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02. Consider The Changes Your Company Should Make
Here are some guidelines that you can follow to ensure what changes your company actually needs to make in order to rebrand:
- Organize a poll within your company to get valuable suggestions and ideas from your employees as to what type of changes will greatly benefit your company. Some may even suggest to evaluate your company’s packaging design.
- Select few employees that will be a part of your rebranding team because their early involvement and participation will greatly smoothen out your future transitions
- Try getting feedbacks from your clients as this will help you know about things that are working in your favor and the ones that are negatively impacting your business
- Seek the help of your marketing team for conducting research-based surveys on your existing products and services as well as new launches
03. Determine How Much Of Rebranding Is Actually Required For Your Business
Depending on your set goals you can either look for a partial rebranding or go for a complete rebranding of your business. The former requires just simple and minor changes to your brand logo or some specific changes to few products in order to upscale them.
Whereas, the latter requires major transformations in your marketing materials such as your social media page , company name and image and can go up to the extent where it might involve critical changes in company’s working style as well.
04. Assess Your Rebranding Costs
It’s always a good idea to assess your rebranding costs in totality prior to their execution, so that you do not exceed your estimated budget. You should consider the existing costs of creating many new graphic design items. For example, you may be required to recreate your existing catalog design that addresses new set of consumers of your restaurant business.
In addition, you also have to designate the task responsibilities of every individual as this will help you keep a clear track of what has been accomplished and what more needs to be done.
05. Update Your Company’s Mission Statement
You need to seriously work on enhancing your company mission statement so that it clearly reflects your new set of objectives you wish to achieve. For example, if you are a car manufacturer and you are rebranding for your new vehicle launch, then it makes sense to highlight some good points in your company mission statement such as:
“Our goal is to enhance your driving experience with our car” or “We promise to offer a 3 year service warranty on our new car” etc.
06. Renew Your Company Logo
Coming up with a creative logo design that clearly signifies change and portrays your new brand image can be a daunting task. At times, your design idea might get completely rejected by your designer while at others you might dislike your logo designer’s perspective.
So, it’s a good idea to work closely with your designer where you can expect things to get coordinated well on a one to one basis. Once you are done with your new logo, you can get your new logo updated on your banner ads, your brochures and your business cards.
07. Work Towards Effective Marketing
Now that you are ready with your new brand image, you need to tell your clients, competitors, and customers about it. For that, you need to schedule Press Releases and go for different modes of advertising to make the people aware of your new look.
08. Testing Ensures Easy Adjustments
Before the final launch, do ensure that you have got reviews from everyone in your marketing department, be it your clients, customers or employees. This will allow for easy adjustments in the design before the final release.
09. Re-Launch Your Brand
Prepare and plan an event where you can launch your companies new brand image to people. And don’t forget to publicize the event so that most of your customers’ acknowledge your fresh presence.
So, promote your new brand on social media and other offline channels. It would be even better if you start a blog to educate people about your new branding of business. But make sure that your blog design is refreshing and trendy.
So, these are the key considerations when you rebrand your business. You will need many new graphic design concepts to create your logo, business cards, website, advertisements and many other designs. These are your marketing materials to promote your rebranding efforts.
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To rebrand your business you need to make a new marketing strategy. Your logo, business cards, website and other promotional tools must be redesigned.