ReBranding – Should You or Shouldn’t You

ReBranding – Should You or Shouldn’t You

Branding is how your company or organization is identified. A name, design, symbol, or feature that identifies your company as distinct from others. It presents a memorable impression that increases your company’s value. Your brand identity includes logos, typography, colors, packaging, and messaging. Rebranding is changing, updating, or improving one or more of these identity elements.

Keep reading or watch the condensed version in video, below.

While rebranding can be a very positive business strategy, before you take the plunge, ask yourself the hard questions about your business. Know the who, what, why, where, when of what is running smoothly and what is not. Like my Dad used to say, “Don’t fix something that’s not broken.”

There are good reasons to rebrand and there are reasons rebranding could be a bad decision. For example, with slow sales, market research to pinpoint the cause and formulating a new marketing strategy could be a better, and less expensive, solution.

Here are some good reasons for rebranding:

• Merging with another brand
• Moving into a new market space
• Shifting your core philosophy
• Targeting a completely new customer profile

These rebranding tips will help develop a successful rebranding plan:

1. Keep your mission statement in mind for all decisions.
2. Conduct market research to understand your position and how to better connect with your target audience. A great way to get started is to research your competition.
3. Use your company culture to determine your new brand “voice.” Is it the guy next door, life of the party, conservative, or what?
4. Change your logo, signs, social media, website, etc., to reflect your new identity, mission, or message.
5. Make sure to replace your new logo and message everywhere, check email signatures, communication templates, old landing pages, etc.

Change is never easy, but if you manage it with the right approach rebranding can, and should, be one of the most exciting and rewarding projects your business will undertake. Done right, you will give your team, your clients, and your prospects a  compelling new reason to engage!