Do you want change? Are you bored? Is your business facing new challenges? Let’s Rebrand. But wait!
What Is Rebranding? Many times we have heard the term “Rebranding” but what it actually means? Well, when a company transform its identity such as name or logo or makes some renovation in its packaging or offerings then it is featured as Rebranding.
Why Rebranding is needed? Sometimes it is necessary for a matured and rookie companies to do Rebranding due to various reasons but at the same time, it involves some risks too in terms of their credibility & customers. It sometimes affects old & loyal customers but on the other hand, if we look at the fact that human needs change so to stay in the market on a competitive edge Newbies & Affiliated companies both adopt Rebranding.
Rebranding energizes a business if it’s done in the right way at the right time. It might sound easy but it involves many factors from employees to vendors to customers. They all play an important role in building your brand so the most important thing to keep in mind while doing Rebranding is to preserve the trust of these people. Another foremost risk involved is the waste of expenditure if it’s executed in the wrong way. Whatever the reasons are but Rebranding is surely a big deal.
Let’s Do It… But How?
- Groundwork:
Before moving forward there are few facts to be considered. A fore planning your Rebranding you should do the groundwork that why do you need it? Rebrand if it’s facing any of the below mentioned points.
- Brand Progression
- Similarity with other brands
- Losing the target market
- A new look or advance look of the business
- Forecasting:
Brakel-Schutt (Brand Strategist) also advised speaking with your employees, customers and business partners for research. They are the best predictors of what can happen in future after you rebrand and for prophesying you need the help of your Employees, Vendors, Stakeholders & Customers as they can show you the real image & position of your business.
- Strategize & Execute:
Here comes the most crucial and the game changer step in your Rebranding process which can either give your business a boost or will make it lose. Firstly you need to form strategies that how are you going to present your brand to your old loyal customers as well as to your new target audience. Secondly, you need to execute tasks to your teams from Marketing to Designing to Copywriting and all others have to play their role in executing this new chapter of the business.
- Announcement:
Now comes the judgment day. Revealing the suspense of your product Rebranding. You can opt in different ways to announce. Sending emails to your vendors and customers and tell them about the changes you have made so that they will feel connected. It’s very important to keep your focus on your customers throughout the process as they are the ones who make your brand a hit or a flop.
