Rebranding is a marketing strategy with a new name, symbol, or design for an already established brand. Companies go to rebranding because they wanted to create a different brand identity from its competitors in the market. Rebranding is excellent for the business, but it can be risky at the same time.
The concept of a rebrand for a company can be terrifying. There can be a different reason why companies go for rebranding.
We are here with some simple steps to help you do a corporate rebranding, how to do a company rebrand.
1. Reanalyze your company’s mission and values:
Start by understanding your mission and values. It’s a crucial step to understand what makes your company special. What is the goal of your company’s presence? And what are the values that your company has that are essential? You need to reanalyze your company’s mission and values. Are they quite identical to what they were years ago? Because a mission statement might change over time as the product changes.
2. Reanalyze your ideal client:
For this step, you need to know the answer to what demographics are you trying to reach? As personalities and interests of demographics are continually changing. What piqued the curiosity of teenagers 20 years ago isn’t what sparks teenagers’ interest in 2020. A professional rebrand could be necessary if your audience is 40 years old when you wanted to be much younger.
3. Research the market and your competition:
Research the market to evaluate if your company is still relevant. In this step, you must understand where your company is standing in the market. You need to understand what your competitors do and determine how your company stands apart from your competitors. When you know the market and assess your strengths, you can build a successful rebranding strategy accordingly.
4. How well do you know your customers?
If you can find out why people buy your product and what their lifestyle habits are. It will make it easier to make lasting connections with them. Think of all the things you would like to know about your customers, age, gender, shopping habits, general attitudes, and why they buy your products or use your services. From your list, highlight the things you need to know to understand your customers better. For that, you can create a simple survey with simple questions to help you get the information you are after. Or just spend time speaking to your customers directly.
Once you have completed those steps, it’s time to get to work on the actual rebrand, which is similar to the initial branding process when the brand was first launched.
- Rewrite your mission statement:
- Redesign the Logo.
- redesign all the marketing materials.
- Redesigned your website or app.
- Let customers know about your rebrand.
- Relaunch your brand.