A Step-By-Step Strategy to Rebrand Your Business
Are you unsure if your business needs to be rebranded? Rebranding is a marketing technique in which a business changes its “look and feel.” In other words, the company tries to change the way they are perceived in the minds of their consumers. Rebranding is needed when your company changes its target market and has goals in capturing a new audience. Similarly, if your business has expanded in terms of size, product variety, location, or you’ve outgrown your business model, then it is time for a rebranding strategy to keep your business moving forward. Other reasons for rebranding may include your business becoming outdated, not reflecting your brand vision, or the business model has changed. Every business is different in the way they operate; therefore, rebranding may look a little different for each business. However, there are some guidelines to follow when undertaking this objective.
Self-Analysis, Mission Vision and Values
Looking inwards on your business is very important when it comes to being successful in rebranding. Before you begin to consider rebranding, it is crucial that you can pin down these questions regarding your company. Who is your company? What does your company do? What does your company stand for and believe in? Where do you want your company to be in 5 years? Before a company invests time and money into rebranding, they should be able to determine their brand story and know what the end result will look like.
Knowing your target market/ audience is one thing but have you considered if the business’s current image fits the consumers’ wants and needs? Maybe your business wishes to reach out to a broader range or a new group of consumers. In any case, it is important to get feedback from your current clientele. Ask them what can be improved, what you are doing great, and maybe ask for their input on your brand story and products. This information will help align your brand to meet your intended audience when rebranding.
Deciding what makes you unique is a crucial step in the rebranding process. Focusing on your niche rather than trying to appeal to everyone is key for successful companies. The primary way to determine what makes you unique is considering your competitive advantage, what you do better than your competitors.
Rebranding List and Touchpoints
Creating a list that consists of things needing to be changed or improved is a great place to start once the previous has been completed. This list can include things such as the company’s website, brochures, business cards, etc. You should also create a list of things that don’t need as much change and can be kept for referring to in the future.
Employee Adaption to Rebranding
Your employees must be completely supportive in the rebranding process. Be sure to get their feedback in all stages of the initiative. Some methods include anonymous comment boxes, one-on-one meetings, and full staff meetings. In addition, it is important to keep your staff excited for this change. You can offer incentives such as a party, bonuses, or friendly competitions in the workplace. One last note is that training your employees for the transition is imperative.
Rebranding to the Public
Once the previous steps are complete, it is now time to take your new brand public! Be sure to be speedy, convincing, and decisive rather than steadily implementing changes as this will confuse your customers. Engaging with consumers at this stage in the rebranding process is one of the most important parts of this process becoming successful. Tell them why the rebrand will benefit them and keep the company’s mission and vision aligned.
Once the rebrand has been launched for some time, get some feedback from your target market and consumers. Use this feedback to make any small changes or adjustments needed.
A Final Note
When it comes to rebranding, there is no clear-cut path to being successful. Sometimes it is hard to do what is necessary for your company. Rather than struggle with all the choices and variety of items to cover, contact NH Marketing to receive the most cost-efficient solutions for your company’s rebranding journey.