RE-defining your brand or the art of Rebranding
Apr, 9, 2012Posted by
Small and large companies often come to a point in their company’s timeline when they feel the pressure to decide to cut their losses, reel in their nets and start licking their wounds. While other companies get to that point and decide it’s time to go all in. Re-branding could very well be your company’s next logical step. Sometimes companies proactively choose to rebrand for positive reasons, such as entrance into a new industry. Also, companies choose to rebrand in response to negative reasons, such as changes that makes their brand outdated. Regardless of why a company decides to rebrand, there are fundamental ways to rebrand that can set the new brand up for success.
As graphic designers, it is our task to determine whether a company needs to rebrand and what will be the best way to proceed with the “Plastic Surgery”. Here are some facts that will help you in the process.
Not a good time
- Rebranding just because you want to
- Thinking that rebranding is just changing your logo design, tweaking your stationary or corporate colors
- If your customers are loyal to your brand, rebranding may lose brand loyal customers
- When there’s no research, changing images without studying demographics and psychographics are dangerous
- When it will cost you more than your ROI
- If you want to rebrand because your competitor did
- Your current brand positioning isn’t adequate for your market anymore or you have a different target market
- The brand is deteriorating or stagnant
- When rebranding has the potential to pay itself in the long run
- Your customers don’t seem to favor your brand anymore
- If your brand gets caught in a controversy and its reputation is affected
Rebranding is a word that can scare most companies away from even taking a deeper look into the idea. It is not always a death sentence and it should be looked at as a great opportunity to expand and grow as a company. The process doesn’t end when the new name, logo, and company crew are all complete. The most critical part of this process is to keep your eyes open and look to future opportunities. Don’t launch your rebranding effort and then walk away from it. You need to have an ongoing plan to nurture it and help it continue to thrive and grow.
- Get out word of your changes, new ideas and advantages
- Give a peek…show your customers a “sneak peek” of your process by writing some blog posts about your “Plastic Surgery”, letting people know the Why? behind the rebranding idea, also, show them the How? this process is shaping
- Make sure your customers know that you still caring for their best interest.
Have you worked on a rebranding project? What are your ideas of rebranding?