Rebranding is a trending topic these days, but what is it all about and why are so many companies doing it? What makes one company’s rebrand a huge success, while others flop so spectacularly? If you’re considering a rebrand, then keep reading to find out how to get it right.
What are you hoping to accomplish?
Having a clear understanding of why you’re considering a rebrand of your company is the first crucial step to making it a success. Do you feel like your brand has become dated and out of touch with the younger generation? Has a PR disaster left you seeking a fresh slate?
Remember that rebranding can become expensive, so if you don’t have a very good reason for it, and a clear idea of what you’re hoping to achieve with it, you could be headed for an expensive outlay that achieves nothing more than confusing your customers. If it ain’t broke, don’t fix it!
Avoid changing just for the sake of change or as a last ditch effort to increase sales. If people just don’t want or need your product or service anymore, then no rebrand on Earth is going to make them buy it! If this is the situation you find yourself in, then it’s your product offering that needs to change, not your image.
The right reasons for rebranding:
Keeping up with the changing tastes of your customer base, capturing a new or bigger market, or updating your service to take advantage of new technologies are all good reasons for a rebrand. You need something new and different to go along with that new and different brand image, otherwise it just looks like you’re experiencing an identity crisis!
If you’ve made a marketing blunder, or your company has been in the headlines for all the wrong reasons, a complete rebrand (along with a clear outline of how things are going to be different this time around) can save a business from shutting down.
Test the waters:
We live in the information age, and people love getting the chance to have a say in what their favorite brands get up to. If you’re considering a new logo or slogan, why not give the public a chance to vote for the one they like best? Make it a contest, have a prize giveaway, and give people motivation to take part and share the process with their followers on social media. If you can get a bit of free publicity while getting valuable insight into what makes your customer base tick at the same time, then why not?
If GAP had done this before their disastrous attempt at a rebrand in 2010, they would have found out much sooner that their fans absolutely despised the new logo, and they could have avoided a lot of embarrassment. Needless to say they didn’t, and ended up canning the new logo just six days after its launch.
Get your employees involved:
In many industries, your employees are the face of your company, and having them onboard with the changes you intend to make can be a huge asset. If your new brand image is meant to be smarter and more sophisticated than the old one, your client-facing employees need to look the part too. If corporate image and clothing isn’t your strong point, then partnering with an industry expert like House of Monatic to help them achieve the standard you expect can be helpful for both parties.
Get them involved, and make it clear that you value their input. Many will have friends and family in different generational groups, and their input can be extremely valuable.
Keep it simple:
If you look at the businesses that have pulled off the most successful rebrands, there’s one thing they all have in common – simplicity. A rebrand should serve to make your vision, your product offering, and what you stand for clearer. Shorter slogans, simpler logos, and a cleaner aesthetic always seem to resonate the best with customers. Apple’s rebrand from Apple Computer Company to, well, just Apple, is a notable example. Federal Express to FedEx is another.
Do your homework:
Aside from anything else, rebranding should never be a rushed process. Hasty decisions, failure to anticipate the true costs of the process, and not doing thorough market research before you make your move are all recipes for disaster.
But if you take the time to understand your own motivations and connect with what your customers truly want, rebranding your business can launch your company into the kind of success you’ve always dreamt of.