Rebranding a business isn’t a decision that should be taken lightly. There are only a few major reasons to rebrand, including the merger of two companies or a complete shift in the target audience or business model.
Whatever your reason, there are certain things you should do to ensure the rebranding process yields the desired result. Here are several strategies to employ when rebranding your business:
1. Define Your Brand’s Visual Identity
Anytime you rebrand your business, you need to create a visual identity that your clients will associate with your products and/or services. Think about your company’s name, logo, colors, tagline, and other aesthetic features, and once you’ve created the image you wish to present, line up some branded promotional products to give out. Make sure the promo products are useful items of supreme quality. That way, your customers will use them often and become familiar with your new brand quickly.
2. Research Your Target Audience
Conduct objective research on the competition as well as your new target audience if you’re switching markets. Don’t rely on what you think you know as many business owners have a distorted view of how the market perceives their business. By conducting this research, you’ll avoid building your new brand on false presumptions.
3. Get Everyone On-board
It will be difficult to sell your company’s rebranding if your employees aren’t all on the same page. Invite their feedback and suggestions and hold staff meetings to discuss any questions or concerns they may have.
If rebranding involves the launch of new products or services, make sure your employees are properly educated and trained in their usage and delivery.
4. Adjust Your Online Presence
Your website is probably the most important business development and communication tool you have. It is likely the first place your customers will come to learn more about you and what you do. Your company’s website allows you to educate and compel your audience, so it has to convey your rebranding completely, and as soon as possible.
Without a doubt, an online presence is at the heart of any modern business. Your website should convey your rebranding sooner rather than later, and the rest of your online presence (social media, for example) should follow close behind.
5. Your Rebranding Marketing Strategy
Your marketing campaign needs to be adjusted to reflect your company’s rebranding. This is where you update all the marketing materials such as brochures, fliers, proposal templates, pitch decks, and trade show booths. These tools will help you convey your new message. For example, rebranding your brochures will change how customers view your brand while a new pitch deck can shift investors’ perception.
6. Get Feedback
Rebranding has a huge impact on most companies, so it’s important to gauge its success periodically along the way. Ask customers to leave feedback or use focus groups or online surveys to find out how the general public is responding to your rebranding.
It’s important to note here that rebranding may have a slight negative impact on your company’s bottom line at first. You shouldn’t stress too much about this because, if done right, rebranding excites customers and leaves you in a better position to attract a new target audience.
Whether your company has merged with another or you’ve decided to take your business in a whole new direction, rebranding enables you to communicate your new message while solidifying the position you wish to occupy in the marketplace. Rebranding to appeal to a new audience distinguishes your company from others in the niche. It may involve a lot of work, but by implementing the tips above, the process will be easier and more effective than you thought.