It’s no secret that times change and we have to change with it – it’s a way of life. New trends come and go and outdated things don’t work – that’s when it’s time to change our outlook as well as the worlds. This goes for businesses too. As consumers’ needs and wants continue to evolve at breakneck speed, it’s easier than ever for companies to fall out of touch. When the time comes for a full rebrand, it’s critical to know your brand Rebranding Strategy investment will be positively received.
Digitization coupled with the pandemic has made e-commerce majorly lucrative, but with more and more retailers and new entrepreneurs and businesses entering the fray, it has also turned into a saturated, competitive market. Online shopping and live video shopping have become a necessity more than a requirement and with so many options to choose from, consumers have easy access to everything.
However, one thing that the isolation and quarantine period couldn’t stop was the trends. In a world where trends are constantly changing, it can be hard to maintain a modern image. Logos and brands, just like people, also need makeovers. Some logos change after many years, while others change every 10 years or even less. The good news is that the need for rebranding is not a bad sign.
Often, rebranding means that the company has evolved beyond its previous identity and is now ready to scale new heights. However, it can be an effort-intensive process, so you need to be deliberate about the ‘why’ and ‘how’ of going about. Therefore, we have curated a list of tips that will help you in you rebranding strategy. Take a look!
Research Before Your Rebranding Strategy
Before making any changes, you’ve got to do research to find out how your brand can improve. What do people like about your brand? How can it connect with modern consumers? There are endless questions to ask when building a new identity. The more knowledge you have, the more effective your rebranding strategy will be. Consider asking yourself questions like:
- Do you want to generate more leads?
- Establish yourself more firmly as an industry leader/expert?
- Make your USP clearer?
- Resonate more deeply with your audience?
- Replace your outdated branding so that your brand is seen as modern and with the times?
It’s not enough to simply say you want a new website or marketing collateral. Why do you want those things? What are you trying to accomplish through your rebranding? An effective rebranding strategy starts by developing a compelling ‘Why?’
Have a Process Planned Out for a Rebranding Strategy
Get all your company’s stakeholders involved, explain what you’re about to do and out together a plan of action with them. Your rebranding strategy might require you to take up social media. Or, it could impact the networks you already advertise on.
Have a Holistic Strategy
Rebranding is not just about a new logo or website, but about the entire look and feel of the brand that you reflect to the world. Make sure that there’s a consistent and cohesive strategy that spans all elements (logo, packaging, signage, flyers, ads, etc.) and channels of your brand (digital, social, brick-and-mortar presence, etc.). A new, fun mascot logo would clash with the more serious voice in website and social media, so consider these constraints.
Analyse What Needs to Remain and What Needs to Be Removed
Before you toss everything, consider what may already be working well in your brand. Typically, you may want to keep at least your company name. Ideally, some elements of your current brand will be preserved, so that there’s a feel of continuity when you rebrand, and you don’t lose the elements that already resonate with your target audience. Basically – what isn’t broken, doesn’t need to be fixed.
Project-Manage the Rebranding – From Start to Finish
A rebrand, especially one that completely overhauls your look and feel, can be a very effort- and time-intensive process. This is why project management is essential to completing a successful rebrand within the deadline and budget. Project management can be as simple as a spreadsheet that documents projections of timelines, deliverables, risks, and team responsibilities for each work package.
So, there you have it – 5 rebranding tips that will help you strategize well. Since everything has now gone digital, online stores are in high demand, more than ever before. Virtual shopping and online video shopping have taken over as the primary means of retail and brands need to embrace this evolution by making it their own. A rebranding strategy is like dynamite. It forces you to have a laser focus on the present. It clears away the old to make room for the new with a big, bold jolt of energy.