Could your company benefit from a rebrand? Our team at Brand Ranch Media would like to briefly look at why a rebrand may benefit your company, discuss a few differences in rebranding strategy and approach, as well as share a high-level checklist for some things most companies commonly need to address as they go through the rebranding process.
There are many reasons to make a change to your brand and identity. Have your services or products evolved or changed? Do you have a new mission statement and core values? Maybe you are targeting a different demographic or entering a new market and could simply benefit from a refreshed brand to help stand out from the competition. And of course, there is always the “clean slate” approach to help put a troublesome association or negative past behind you.
Rebranding something as important as your company certainly is not as simple as turning the page and swapping out the name and logo. The timing and adjustments required for rebranding success are unique and varied for every company and situation.
Types of Rebranding
There are three basic types of rebranding used to adjust how people identify or perceive a company or product:
- Brand Refresh – Changing minor details such as small aspects of your logo like color hues and fonts.
- Partial Rebrand – Creating a new logo and slogan but maintaining the same mission.
- Full Rebrand – Everything is new. Nothing is carried over from the past brand. It’s like you’re an entirely different company with a new name, new voice, new fonts, new logo, new jingle, new colors, a new slogan, or mission.
The rebranding process needs to be planned and thought out. The initial time investment to analyze your current brand’s space and effectiveness in the marketplace can be what makes your rebranding a success or a flop. Take time to analyze what is and isn’t working for your current brand, as well as what is working for your competitors or within other industries attempting to influence your target consumers. This analysis can help point the way for your rebranding efforts and determine which aspects of your brand need to be adjusted to achieve the greatest success.
It takes time to complete many rebranding tasks and finalize the assets that will make your new brand shine. Set up a timeline or planner that allows you and your team to complete all the needed tasks with an official date to launch the new or refreshed brand.
Look at your business cycle and determine if there is a time where the benefits of a re-invigorated brand will give your company the greatest benefit. Nobody wants to be doing deep market and brand analysis during their busiest time of the year, when their organization should be running at full speed and maximum productivity. If your current brand is facing challenges during the busy season, you may need to complete the rebrand before the season ends. An energized and well-targeted rebranding message can deliver more than just positive brand awareness, it can also lead to a spike in sales which will help maximize revenues for that particular timeframe as well as in the future.
Use the rebrand as an opportunity to build some hype. If your current brand has significant positive recognition and recall, tell the world why you’re making the change. We all grow throughout life, so the story of your brand growth and evolution will help personalize it while helping your audience identify and remember you. It’s perfectly fine to go big and show off why you love your new brand, how your company has evolved, and how that growth helps your consumers and target audience! You’ll also want to let your existing customers know about the change so they don’t have issues contacting you for future business needs.
It’s worth mentioning, there are risks to rebranding as well as risks to not rebrand. There are costs to consider: graphics, audio, signs, and marketing campaigns add up, not to mention the investment of time. Time takes its toll on all things and a brand will not keep its “pop” and fresh look forever. Updating to keep up with the times can help your brand stay relevant and top of mind, however if not executed properly, a failed rebrand attempt could lead to getting lost in the market and outpaced by your competition.
If you’re starting your rebrand journey, here’s a high-level checklist to help you along your path. (Please keep in mind that each rebrand is unique and may have additional steps to consider.)
If you’re ready to turn the page and refresh your brand, tackle a partial rebrand, or strategize for a full rebrand we are here to guide you along the way. Brand Ranch Media has successfully helped many brands evolve and grow. Call us today at 713-309-6380 a reach out via our contact form and we can help ensure your rebrand is a success.