Rebranding is not as scary it may seem; there are many reasons for rebranding a company that makes a lot of sense!
Did you know that there are different types of branding and rebranding that a business can accomplish? Typically, building a rebranding strategy should have a business objective in mind as the desired result.
No matter whether your website needs rebranding, or you’re a small business looking for an entire overhaul – we’re going to discuss branding and rebranding for businesses.
Why do companies build a rebranding strategy?
There are usually a few reasons for deciding to rebrand a company. For example, maybe your company values have become more refined and need to be reflected in your brand image, or perhaps your business is set to launch in new territories. Acquisitions or mergers may also be recourse for a fresh start.
Reaching the stage of brand evolution where rebranding is involved can mean that your business is ready to jump to new heights in some way or another. Rebranding can give companies a chance to strengthen their presence and image in the eyes of their clients and prospects.
However, when considering rebranding a company, step one is to ask yourself why you are considering a rebranding strategy. Since rebranding is an intensive process, you need to be intentional, and you should be able to explain why you think your business is ready for this.
As an example, it’s great if you’re set on rebranding a small business because it is expanding nationwide and needs a significant update. You could also consider partial rebranding if you want smaller changes.
When should you consider rebranding a company?
You may believe the misconception that rebranding should only arise when a company pivots, is acquired, expands internationally or either changes or massively adds to their core product or service offerings.
Thankfully, businesses are always growing and evolving in many different ways – which do not all encompass full rebranding. However, it would be best to check whether your current branding aligns with your new audience or business objectives (or not).
When looking more closely at rebranding a small business, sometimes there hasn’t been much of a branding effort in place from the beginning. Suppose your logo is slap-dash with a slogan to match. In that case, it may be time to start putting in a dedicated rebranding strategy to make your company look more professional and trustworthy in the eyes of your customers.
Other reasons for rebranding your business can include adapting to new technology or taste trends, having a dated brand, or improving brand positioning.
Before you begin, don’t be fooled into thinking rebranding can fix everything—some reasons not to rebrand are pure boredom, covering up lousy press or direct attention-seeking behaviour.
Different rebranding steps: partial or total rebranding
When considering rebranding your company, and having understood why you think your company is ready for this, it’s time to decide the intensity of your rebranding.
You may consider partial rebranding, as it can help you retain brand loyalty while updating your brand image at the same time. Partial rebranding strategies often focus on changing your visual brand identity to suit business goals or new markets without changing your brand’s core values and mission.
However, if you know that your brand is going through a total overhaul, including changing your brand’s mission, values and identity, then rebranding a company completely may be a smart move.
Rebranding a company step by step
Now that you know you need to build a rebranding strategy, it’s time to get started with the first steps.
Understand your brand audience/market
Have you done extensive market research and looked through the data? Maybe your demographic is shifting, or you have a new major competitor on the market.
You need to understand who is buying from you and why they may choose to buy from your competition.
Once you can definitely understand who your audience is and what your market looks like, you can continue with your rebranding strategy.
Refine your company’s values, mission and vision
If you’re unclear of your company values or mission, it’s good to clarify what your brand is doing, and how and why you are doing this.
Remember that your company values are the cornerstone of your brand, and so these should be continuously referred to when making business decisions.
Keep note of what you’re doing well
Just because you may need a refresh, you don’t need to discard everything. There may be something that is already working well for your brand, such as your company name.
Ideally, you want to conserve elements of your old brand when you can; whether it’s through a name, similar logo shape, colour or font. This preservation can foster a sense of continuity for your customers.
Make the process collaborative
It’s a smart idea to involve stakeholders wherever possible to gauge their feedback. Involving many departments of the company can create an exercise in defining and improving your company culture.
You could even ask for customers’ opinions on logos and taglines and involve a competition giveaway to gain some engagement during the process!
Decide on what to change
Some of the things you may decide to change during a partial or total rebranding strategy include your brand name, values, mission, visual identity (logo, images, shapes, fonts colours) and even your brand guidelines.
Don’t forget to share your changes with your customers and staff members once you’ve decided on what your brand needs.
Examples of some of the best rebrands
Companies who have successfully rebranded well include:
- Dropbox subtly took on a rebranding strategy in the last few years. While they are known as a file-sharing service, Dropbox expanded to offer more tools and integrations for businesses. They needed to start with rebranding their website, which can be challenging. By subtly changing their font colour and logo shape, it no longer represents a physical box but instead, many surfaces or touchpoints that they now offer.
- Pick n Pay rebranded back in 2009. They had a total brand makeover, representing their shift towards improving their customer experience. This update helped Pick n Pay stay relevant and coincided with the launch of their ‘Fresh Living’ magazine.
- Many businesses choose to rebrand to appeal to a younger audience. One of the coolest rebrands was achieved by Adidas, who utilised influencer marketing and digital marketing for their sneakers to capture the millennial market successfully despite stiff competition from Nike and many other competitors. This kind of rebranding aligns with having a new target demographic for your business.
The truth is that it can be challenging to pull off a successful rebranding strategy. Rebranding a company requires many areas of consideration before you can get started.
You need to understand why, how and when you should rebrand as part of a more extensive branding and rebranding strategy.
We’d love to walk you through rebranding steps, regardless of if you require a total or partial rebrand.
Get in touch with us at BigToe Creatives – we know brands, and we can help you find your new brand identity.