Rebranding the Stuff of Nightmares or a Great Opportunity

When considering rebranding opportunities and challenges, businesses enter a complex landscape that requires strategic thinking.

“The secret of change is to focus all of your energy not on fighting the old, but on building the new.”
– Socrates, Greek philosopher.

Creating a brand from scratch is a long and hard process. You know this because you’ve been through it. Rebranding your company or business, on the other hand, might sound like a titanic undertaking. As you develop the project, there’s no doubt you’ll start to wonder if rebranding is either the stuff of nightmares or a great opportunity.

It is both, but only if you don’t plan out a detailed process or if you don’t have a real reason to do it. If your company meets these requirements, rebranding can open doors to significant opportunities and also present certain challenges. 

3 Reasons Your Company May Need Rebranding: Opportunities and Challenges

1. Outdated Look: A Rebranding Challenge to Overcome

If at any time you find yourself embarrassed to hand out your business card, or if you have to explain why your website is outdated when you share your URL, you might want to analyze the possibility of rebranding your image. You should always be proud of your brand, so taking a moment to assess this situation might answer the question if your brand needs a makeover or not.

2. Blurry Vision and Lacking Emotion

Understanding the rebranding opportunities and challenges is crucial for businesses wanting to reignite their brand’s passion and spark. Cultural evolution, trends and even historical events might have all confabulated into diluting your brand’s emotions and originality. Globalization and more modern digital platforms can also be a factor in making a brand name lose its appeal. If you feel this is happening to your brand, conduct research and surveys to determine if rebranding might give your company new life to stand out from the crowd once again and un-complicate its meaning.

3. Growth

Growth is one of every company’s main goals. As time passes and you reach your growth objectives, consider whether rebranding might help the company communicate this evolution better. Maybe you went through a merger with another company or you feel you’re no longer attracting top talent to work with you. A well-planned rebranding campaign might revitalize these efforts and position your brand better in the eyes of the industry.

Once you’ve recognized the rebranding opportunities and challenges specific to your business, it becomes essential to chart out a strategic course. A well-executed rebranding strategy will allow for a smooth transition that tells your true story well and leaves you in a better position. Considering these 3 aspects of a rebranding strategy will help you get started.

a. Plan. Design. Attack.

Build a team of key people who will be in charge of planning and executing your rebranding strategy. However, it’s important to also involve everyone in your company and even evaluate the option to get your customers in the mix somehow. To deeply assess your strategy, ask and profoundly answer these questions:

• What are your goals?
• Why are you rebranding?
• What are you hoping the rebranding will do for your company?
• What is your budget?
• What is your time frame?
  

b. Tell Your True Story Well

Hopefully, you’ve built a trusting relationship with your audience of consumers and clients. This relationship was built by telling them your story and making them part of it. As you enter the rebranding process, continue to tell your story. Consumers are expecting to go through this experience with your brand. This makes it more than just a product or service, a good story that is honest and well-told will deliver the message and strengthen the connection.

When telling your story, use the appropriate tools from the toolbox that you have at your disposal, but do it in a timely and synergistic fashion. These tools include videos, pictures, blogs, social media, etc…

c. Be Relevant and Expand Your Horizons

It’s a jungle out there, and your company faces fierce competition. Making sure you continue to be relevant to your buyer personas is a crucial point in your rebranding strategy. Take this opportunity to highlight what is unique about your brand and how your story translates to the needs and motivations of your consumers.

Rebranding is usually a side effect of growth. Embrace this challenge by exploring possibilities to broaden your horizons and reassess your buyer personas, your products, and your partners. It’s guaranteed that they have also grown and changed over time, and if your brand recognizes this, they will feel a stronger connection with you.

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As you go through your rebranding process, consider the tools at your disposal to properly communicate this story to your audience. We would be more than happy to advise you on how promotional merchandise can be part of your marketing mix to make this a more effective process. Contact us today!