Branding is paramount in every business. Unfortunately, some businesses fail to come up with the perfect brand that reflects the goods and services they offer. When this happens, a rebrand is needed. In some cases, rebranding is not actually necessary. Nevertheless, the more brand value a business has, the better results it sees. The best thing for business owners to do is to determine the right time and strategy for rebranding.
The Right Time
A business is in need of rebranding when the brand no longer represents the products and services they offer. This may be because of business expansion that changes their concentration on different product and service categories. With this, there is a need for rebranding.
If there are discrepancies between the products offered and how the customers perceive their value, rebranding is a good idea. The same should be done when customers have negative brand associations.
The Right Way
Ideally, the process should start at the top with the company name. Business owners should not overlook the importance of brand propositions and what the customers expect from a brand identity. One good example is Coca Cola. Since its inception, the name has not changed. However, the name has evolved over the years without completely renaming the brand. The company only changed its look while making sure that the brand resonates with the ideal client. While this works for Coke, it may not for others.
Rebranding involves more than just the logo. The most important thing about rebranding is living up to the product’s promises to customers. It should be more than just logo or tagline updates. There should also be integration with innovative technology and IT systems. This may include SEO methods and creating attractive and user-friendly websites.
Experts recommend that businesses stay away from the generic taglines and statements. Due to the large number of available options, consumers often end up patronizing products with more catchy statements because they are easily remembered.
Most importantly, rebranding also involves the company staff. This means no matter how compelling the logo, tagline or website is, it is not enough. The company staff should be knowledgeable about these changes in order for them to adopt and reflect the new brand. Company staff is one of the driving forces behind brands. Without them, a business will not be able to relaunch the brand successfully.
The Wrong Time
Being bored with the brand is definitely not a good reason to jump into rebranding. Business owners should bear in mind that untimely rebranding will only compromise sales. Consumers will think of the new brand as a different entity.
The Bottom Line
Experts believe that rebranding means using what is already there. The most successful rebranding involves taking out the unnecessary elements and simplifying everything. With this, the brand’s image is cleaner and better. If there is a need to make changes, it should not just involve the logo or the company statement. Branding is an asset that should work for the company, and it should not be taken lightly.