If your marketing experts have suggested you to rebrand, remember that rebranding is quite tricky. Don’t think, that it’s only about creating a new logo; it’s so much more!
You have to think on factors right from the appearance and feel of your new brand identity to its implementation and feelings of customers towards it, and you have to do a lot of planning.
And this is probably the reason why so many companies get a wrong assumption about it. Even international businesses like Pepsi and Tropicana have been fallen prey to a rebranding fail.
While there is no doubt that rebranding should not be taken lightly, even though you spend a lot of money and time, it becomes difficult for you to predict definitely whether it will be a success or not.
However, a few things do exist that every company looking forward to a successful rebranding should consider. Here are some important things for you to consider to rebrand successfully.
1. Reason for Rebranding – Is It “Just Because”?
Businesses undergo rebranding for many reasons, including a new CEO, a merger, a shift of audience, warding off a bad reputation or changing an outdated image. However, it’s perhaps the biggest mistake if you are rebranding for the reason – just because…
Any business owner knows that there is an ultimate objective of any exercise their business undertakes. This includes rebranding too. It’s essential to fully understand your reasons for rebranding so that you can make better decisions. Visit https://brandquest.com.au/case-studies/b2b for interesting case studies of rebranding.
Rebranding just because you are bored or not knowing the exact reason for your rebranding will never help you achieve anything.
2. Is Your Rebranding Just About Your Logo or Name?
Usually business owners think about rebranding with only the physical components like logo or name in mind. They never think that a brand is so much more than these.
Your brand is everything from your name, your logo and your website to your story, your company’s culture and even how your employees treat your customers in person or over the phone. It’s everything that your audience perceives about your company.
Thus, a rebrand can be particularly potent. For example, if you are planning to cut from your company’s past, a new name and a new logo probably won’t help if you stick to your older culture.
Similarly, if you are just planning to freshen up your brand, it can be helpful to renew how you can update things like your philosophy or your processes to suit your new look.
3. Do You Really Understand Your Customers?
A vital part of successful rebranding is perhaps the ability to understand how your customers would react. This is not about what they feel in their mind, but rather what your market and your product is like and how it suits the daily life of your customers.
History tells how renowned brands failed in rebranding. Sometimes it even happens that customers just don’t like the change in the looks of the new product. This is because they have an emotional significance with how things look that they use and enjoy and if these looks change, their reaction is often negative.
The original looks may be associated to quality and enjoyment and if it changes, customers may not like it. Here it’s necessary that you should recognise what your customers think about your brand and whether to change it or not accordingly.
This may be difficult but data and market research can help you understand your customers’ feelings. It cannot exactly predict your customers’ reaction, but at least it can tell you which factors need improvement and which ones are perfect.
All in all, understanding the market is the most crucial part of a successful rebranding. When you do rebranding business from BrandQuest, you get their help in understanding this and there are higher chances to get success. Consider all these factors and make your rebranding successful.