If you are considering a rebrand for your business, you’ll know that it’s not an easy process. You have been in business a while and feel that your business has grown and evolved, and are considering your future direction.
If you feel that you no longer align with your brand vision, your business may have taken a different direction or you’ve simply outgrown your brand this article will help you identify the next steps. Whatever the reasons for you considering a rebrand, ensure that you think it through carefully. Take a strategic approach to creating a brand that provides longevity by doing lots of research and consulting a brand professional.
Is it Time to Rebrand?
Rebranding is a process that should be approached and considered thoughtfully and strategically. While there is no specific right time to rebrand, it’s likely that there are various factors relating to your business that will help you decide when the time is right.
Here are some factors to consider if it’s the right time for a rebrand:
Outdated Brand and Image
If you notice that your brand is outdated in today’s environment, no longer aligns with your business, vision or your target audience then you can use the rebranding process to modernise your brand. This also applies if your brand no longer resonates with a younger generation or your target demographic has shifted – a rebrand can help you regain relevance.
Change of Business Direction
Your business may have changed its focus, introduced new products or services that no longer align with your business brand. A rebrand can help your business reflect the new direction your business is taking. Similarly, if the market landscape has changed and your brand is no longer perceived as unique or valuable, a rebrand can help you regain competitive advantage. The rebrand can help position your business as innovative and forward-thinking.
Inconsistent Branding
If your branding is inconsistent it’s time to rebrand. You may have various logos, colours and designs in circulation across the customer journey which cause confusion. Rebranding will help you develop a suite of brand assets that can be strategically used through each touchpoint of the customer journey to create better brand awareness.
Negative Associations or Legal Issues
Has your business faced controversies or negative perceptions? A rebrand can help distance your business from these issues and create a fresh start. Similarly, if your brand is facing legal challenges, such as trademark conflicts, a rebrand might be necessary to avoid costly disputes.
What are the Steps to Rebranding?
Rebranding requires careful consideration and planning, research and target audience analysis along with the creative design of the rebrand. We recommend consulting a professional branding agency or brand specialist to help you work through the design and implementation.
Here are 8 steps to consider when undertaking a rebranding initiative:
1. Market Research
Conduct thorough market research to understand current market trends, customer preferences, and your competitors’ branding strategies. You could seek feedback from current customers through a survey or discussion. This will help you identify gaps and opportunities for your new brand.
2. Strategic Alignment
Review your business goals, mission and values. If this is something you haven’t done, now is the time consider these important elements of your business. Ensure these are aligned with your business to connect you to the right target audience.
3. Target Audience
Define your target audience’s demographics, psychographics, and preferences. Understand what resonates with them and how your rebrand can better connect with their needs and preferences.
4. Competitive Uniqueness
Research your competitor’s branding, what works well for them and what doesn’t. Identify what sets your business apart and how your rebrand can position your business as business unique in your industry.
5. Brand Identity
Consider what you want your new brand to reflect visually and verbally. This will include logo design, colour palette, typography, taglines, visuals and designs. These elements should be incorporated into your branding brief for the brand designer. We recommend aiming for a design that provides longevity, rather than opting for trends that can quickly become outdated.
6. Storytelling
Developing a compelling brand narrative will help explain the reasons behind your rebrand. Consider communicating the journey, values and aspirations that the new brand represents. This gives you a perfect opportunity to connect with current, past and potential clients to introduce the new branding.
7. Placement and Consistency
Ensure your brand placement is updated and consistent across all touchpoints of the customer journey. This applies to both online and offline assets – website, social media platforms, signage, email signatures, letterhead, business cards, internal and external systems as well as marketing material and communications. Make a list of where the brand assets need to be updated so nothing gets missed.
8. Implementation Plan
Work with your designer to create an implementation plan for the rebrand. Consider the timing for the relaunch of brand and factor in seasons, industry events, market trends to really maximise the impact of the rebrand. The timeline should include everything from design development to marketing campaigns and communications. It should also include who will be responsible for specific tasks, and when during the transition phase.
Intrinsic Marketing has created a free Branding Checklist which provides you with the fundamental elements when it comes to creating a brand – from the basics of developing your brand through to brand strategy. Click here to download today.
The Benefits of Rebranding
Rebranding offers several benefits for businesses aiming to stay competitive and relevant in an ever changing and evolving world. The benefits of rebranding your business include:
- Fresh appeal with a renewed, modern image helps your business stay relevant
- Helps you distinguish your business, highlight your uniqueness
- Reach new audiences and customer segments that align with the updated brand identity and key messages
- Build trust, credibility, professionalism and reliability with customers
- Deeper emotional connection with your target audience by developing your brand story and values
- Improved communication with opportunities to refine messaging and key messages
- Showcases innovation, growth and adaptability in an ever changing world
Intrinsic Marketing has worked with many businesses undertaking minor and major rebranding projects. Learn more about our Impact Branding & Design Services and our processes. We are very considerate of your business goals and outcomes and work closely with you to develop a brand identity that is creative and has longevity. Click here to book a 30 minute chat to discuss your branding needs.
