As a business owner, you may find yourself asking the question, "Should I rebrand?" Rebranding is a big step for any business, and it's not something to take lightly. There's a lot to consider before making a change, but if you do it right, it can pay off big time. In this guide, we'll go over everything you need to know about rebranding and help you figure out if it's the right move for your business.
What is Rebranding?
Rebranding is the process of changing the image and perception of a company. This can include changes to the company name, logo, messaging, and overall aesthetic. Rebranding can be done for a variety of reasons, such as to reflect a change in the company's focus or direction, to distance the company from negative connotations, or to simply give the company a fresh look.
Why Rebrand?
There are a number of reasons why a business may choose to rebrand. Some common reasons include:
- To reflect a change in focus or direction: As your business evolves and grows, you may find that your current branding no longer accurately reflects what your company does. Rebranding can help you align your image with your new focus.
- To distance the company from negative connotations: If your company has been associated with negative events or experiences, rebranding can help you separate yourself from those associations and start fresh.
- To appeal to a new target market: If your business is looking to expand into new markets, rebranding can help you better appeal to those markets and stand out from competitors.
- To update the company's image: If your branding feels outdated or stale, rebranding can give your company a fresh look and keep it relevant.
Other considerations
Here are a few things to consider when deciding if rebranding is the right move for you:
- Your budget: Rebranding can be expensive, so make sure you have the resources to invest in it. You want to make sure you do things the right way so that your efforts pay off. In the long run, a successful rebrand should be ultimately profitable.
- Your current brand recognition: If your brand is already well-known and respected, rebranding may be risky. If this is the case, there are ways to make sure your new brand feels more like a refreshed or updated version, than a completely new company.
- Your business goals: If your business goals have changed, rebranding may be necessary to stay aligned with them.
Okay, I want to rebrand. Now what?
Rebranding is a big project, but it doesn't have to be overwhelming. Here's a step-by-step guide to help you through the process:
- Define your goals: Before you start the rebranding process, it's important to define your goals. What do you hope to achieve through rebranding? What do you want your brand to stand for?
- Conduct market research: Before you start making changes, it's important to understand your target market and what they want and need from your brand. Conduct market research to gain insight into your target audience.
- Assess your current brand: Take a look at your current branding and assess what is working and what is not. What changes do you need to make to achieve your goals?
- Hire a professional: Rebranding is a complex process, and it's a good idea to hire a professional to help guide you through it. Find someone who is the right fit for your business.
- Develop a brand strategy: Once you've defined your goals and assessed your current brand, it's time to develop a brand strategy. This should explore and reassess your company mission, vision, values, personality, tone of voice, brand story and more. It should be a comprehensive guide to the new direction and perception of your brand.
- Develop your new brand identity: Your brand identity is your visual brand. This stage includes redesigning your logo, and developing your new visual branding. This will likely also involve redesigning assets such as your website, any print collateral, digital assets, and more.
- Roll out your new brand: Once you've created your new brand, it's time to launch it to the world! This may seem like the easy and exciting part, but it’s important to handle this delicately. Effectively communicating the change and why it was made, is going to be crucial.
In the end, only you can decide if rebranding is right for your business. But if you do it right, it can pay off big time and help you reach new heights! If your business is undergoing significant change, or your current branding isn’t connecting or resonating with people, a rebrand may be a solution.
