Successfully branding a company from the very start and riding a wave of success on that brand for decades is unlikely. Even the biggest and best companies out there have had to evaluate their existing brands and adjust to better respond to customer needs and behaviors. If your own company finds itself needing a fresh start, don’t feel embarrassed or hopeless. Done the right way, a rebrand can send your company to new heights and inject a fresh energy into the atmosphere.
What Is a Brand, Anyway?
The term “brand” is the type of word that everybody implicitly understands but can’t quite describe in words. A brand is not only the concrete products or services that your company provides, but it is also the overall promise to consumers of what they should expect from you. Brands like Nike, for example, promise high-quality, fashionable, and sports-approved clothing.
Why Rebrand At All?
Rebranding might occur proactively in anticipation of positive or negative changes, or reactively, after such changes have already occurred. So what might set off rebranding? Predicted growth, a new line within the business, a new target demographic, or a need to maintain relevancy in the market. Other significant events like mergers or acquisitions, legal issues, and negative publicity might also trigger reactive rebranding. Chipotle, for instance, was recently forced to rebrand after their food caused many customers to become seriously ill.
Tricks to Rebrand Successfully
There are three steps that must be taken simultaneously in any rebrand. Maintain a positive attitude in which change is expected and accepted, determine your overall mission, and do extensive research into your market and target demographics. With your goal in mind, you can talk to customers, industry experts, employees, and others to gain valuable insight.
Next, it’s time for an action plan. There are many companies who have made changes that were unnecessary, unwanted by customers, or just plain silly and clearly not thought through. By creating a comprehensive action plan, you can be sure that your business has considered every important step of your rebranding process so that it is a positive change, not a negative influence.