Rebranding is an art of giving your business a fresh start or signifying a massive change in your organization. The reason why so many people tend to rebrand is in order to reposition themselves on the market, improve their reputation or change in line with the expectations of new management. However, just because you have a good reason to rebrand, this doesn’t mean that your rebranding effort is going to be a successful one. With that in mind and without further ado, here are six steps that can get you the results you need.
Try to avoid it
The first thing you need to understand is the fact that a rebranding tends to be quite an expensive endeavor. Therefore, you might want to try and avoid it, if possible. Consider pivoting, diversifying your offer or even trying to fix your PR. What you need to understand is that, while it is a potent method that could save your enterprise, a rebranding is an expensive adventure which is why you need to use it only as a last resort.
Examine your previous mistakes
The next thing you need to understand is the fact that there’s a reason why you need to rebrand, to begin with. You see, somewhere along the line, you did something wrong and now you have to make up for your wrongdoing. Still, if you plan for your rebranding efforts to mean anything, you need to find a way to avoid your previous mistakes. Perhaps you had the wrong target demographic. Maybe your pricing strategy was wrong. Most often than not, you had a fault in your corporate culture. The key to not repeating this same mistake is to try and figure out what went wrong.
New brand markings
Now, in order to rebrand your business, you need to figure out a way to demonstrate this difference in direction. For this, you might have to change a couple of crucial team markings. For instance, you may want to change your company’s logo, its corporate colors, and even its name. Keep in mind that this mostly depends on whether you just want to give your company a fresh start or if your aim is to distance yourself from your previous mistakes as much as you possibly can. Either way, you might want to start changing quite a bit.
As we’ve already mentioned, when you decide to rebrand, you’re likely to change quite a bit about your company. This might mean a new name, a new area of expertise, a new logo and even a new line of products. Needless to say, this means that all your old promotional products and merchandise are now obsolete and that you might not have a chance to repurpose them. When it comes to your online presence, these alterations can still be made but for your offline marketing efforts, you need to find a reliable service for printing in Sydney and start producing the merchandise of your new brand.
Have realistic expectations
Keep in mind that while rebranding is a fresh start, it’s not a free ticket to success in the business world, there is no such thing. Therefore, what you need are some realistic expectations about the full potential of this project. Your team and your infrastructure are likely to remain the same and even if you adopt much more efficient business practices, it’s quite unlikely that your productivity will double. Also, keep in mind that you will have to start from zero (or close to it) when it comes to brand recognition.
Think about the response from your clients
The last thing you need to understand is the fact that not all of your clients will react the same to your decision to rebrand. Some will applaud this decision, while there are some who will be reluctant to embrace the change. Either way, you need to announce this in advance so that you can prepare your audience for this transition. Chances are that you already have a loyal customer base, which would mean that you don’t really have to start from scratch.
The last thing you need to understand is the fact that rebranding is expensive, complex and not always effective. This is why it’s not something you can do on a regular basis. For this reason alone, it’s so important that you make this rebranding project count by doing everything right. By adhering to the above-listed six tips, you can get just that. If you do everything right, the concept of rebranding is something that you might not have to worry about ever again.