Rebranding involves a change to the image of the business. It can involve the change of the logo as well as visual representations of the name or slogan, mission values, targets market or even all simultaneously. Through changing its brand name, the company is able to evolve and stays on top of fashions. In this article, you’ll find out why it’s necessary and the way it’s implemented.
What is the reason for rebranding?
The main reason behind change of brand is the decline in customers’ interest in the product. However, this doesn’t necessarily occur due to any degradation on the level of quality the item or service. In certain instances it is required to present the brand in a fresh manner so that the targeted customers are again attracted.
According to experts the time of this study, companies did not require changes, but now they’re being implemented all the time. It is because of the extremely high rate of innovation in today’s market.
The primary reasons organizations change their brand names are:
- The popularity of brands is growing. If the company is one of those who are “long-livers” of the market the typical customer is probably older generations. The business then makes modifications to its image to catch the attention of a younger public;
- Because of the rise of new competition. With the rise of stronger market players Older companies are forced to adapt so that the new competition does not take over their competitors. Change offers, products designs, and business processes
- Restore your reputation. If your company didn’t do well changing its name or logo can be a good option. You can eliminate the negative reputation and stigmatization for consumers.
- Be aware of changes in the product. Rebranding could be an indication that the business’s fundamental features have changed. A company, for instance, is beginning to create products that are in a different category and would like to make this clear to customers.
- Explain the merger. Two firms, who have merged into one, may alter the image;
- The introduction of new technology. Modern companies are striving to stay ahead of the curve and come up with something innovative. To let the people know about the existence of cutting-edge technologies, the company has been changing its brand name;
- In the market of international trade. Companies who have attained their “ceiling” of their development in one nation often move into an international marketplace. In this case it is possible to rebrand in order to alter the image according to the needs of an people from other nations.
How to Rebrand 2022: Some Tips
In the beginning, you must decide on the tasks to be completed when changing the brand. It could be different the inconsistency of the previous image with the latest trends or the creation of a new type of products, a move into new markets or reaching out to a new target market. It is advisable to have a strategic discussion that brings together the top management of the company to discuss the purpose of rebranding as well as the growth of a vector. Many companies rely on professional services because they don’t have dedicated employees working on the field.
In order to carry out a brand rebranding, you will require the following experts:
- Brand strategist. His role is to establish the brand. Changes in the image are based on the changing of the ideals of the business. The form of all visual and verbal communications is contingent on this. In most cases the strategist works to an analyst that conducts market analysis.
- Creative director. The specialist creates a unique idea. He develops ideas about how to communicate the brand’s value to consumers and also its visual representation. The creative director ensures the quality of the idea is maintained and oversees the entire team.
- Designers and art directors. Their accountability is the visual component in the creation of corporate identity, and an official document that contains the visual style guidelines;
- They create slogans and text.
Implementation of a formalized document with aesthetic standards is the job that the director of marketing who is a member of the team of employees of the company.
Rebranding through stages
To make sure that the rebranding outcome is not disappointing to you You must follow these steps:
- Consider if your company requires a new brand. If you’re tired of the logo you have used before however, it doesn’t always mean you have to completely overhaul everything.
- Examine competitors. If you know how people react with the images of the competitors You can decide on the most appropriate direction.
- Research your audience. Through attracting new customers your company could leave an impression that is not favorable to old customers. So, it is important to analyze the preferences of an existing customer base.
- Auditing the brand. Before you begin rebranding you must determine what strengths as well as weaknesses in your company. That way, you’ll be able determine the areas that need to be improved on.
- Create a brand’s structure. It is essential to know what the company’s values are along with its mission and strategy to the next phase. It is crucial that the image you choose to portray is in line with this.
- Change the visual. Once you have decided on your message, it is now time creating a suitable visual image. It is important to keep in mind that your new logo and design must be appropriate for all types of products and accurately represent the core idea behind the brand.
- Present the result to your employees. Sometimes, the team is not in the mood for changes. It’s not acceptable to just implement changes that put everyone in the middle. Each employee should be provided with information regarding the significance and the benefits of the changes.
- Introduce your customers to the brand’s new look. Introduce the new brand’s message to the audience , and then explain the advantages of the new image.
Rebranding is definitely a tough job. If you’ve handled it with success, you’ll achieve a result that will be worth the effort put into it. Best of luck!