Rebranding is a marketing strategy that consists of completely or partially changing or modifying some of the elements that identify a company, with the aim of improving the positioning of the brand in order to regain recognition.
This strategy involves changing the logo, name, symbols, typography, etc., i.e., everything that has to do with the brand's image in order to create a new identity. The aim is to be more attractive to consumers.
Most companies carry out this practice throughout their lives and update their image. Rebranding seeks differentiation, as the market is becoming more competitive every day, new formulas must be sought to attract attention and be more attractive to consumers.
Now that you know what rebranding is, let's go deeper into this marketing strategy and we will tell you how it is done.
how is it done?
The purpose of rebranding is to regain or gain recognition, that is, to change the opinion of customers and investors about your company. To do this, the necessary changes are made to reconnect with them. As we have said, these changes can range from the logo, the typography of your company, the logo of your campaigns to even the way you work internally.
But how do you go about rebranding? Here are the steps to follow to successfully carry out this marketing strategy:
Know your company well
It is essential that you know how to detect which stage is in decline, if it is in this phase, in order to define a value proposition to be present in the market again.
If you know your company well, it will be easier to define the objectives to regain relevance, and thus make the best decisions to carry out the rebranding.
Define your target audience
You need to know your audience very well, as this is who you are targeting. To do this you need to create, if you have not already done so, one or more buyer persona profiles. These will help you to know what your customer is like, what their needs and concerns are and how to solve them through your product or service.
If you know your audience well, you will know how they feel about your brand and what they expect from it. Do a focus group, which is a market research method, with some of your customers to find out in detail what effect your new brand image has on them.
Make a budget and a list of priorities
It is important to take into account the budget you have, usually, rebranding strategy has a high cost, apart from the design costs, count with the changes in uniforms if you have them, or vehicles, social networks, physical shops, the website, etc.
Review what is the main objective you want to achieve and the actions you will need to take to make it happen, then adjust the budget and determine how much investment you need to make it happen.
Assemble a creative team
To carry out a rebranding project, the ideal is to have a good creative team behind you, because two think better than one.
This is where the project begins to take shape, where new ideas are sought to be expressed but still represent the brand. This is where new proposals emerge to make the appropriate changes in the company, for example in the logo.
Remember that you must not forget your client, it is your client who you are addressing, and therefore what you create must provide value, and be of quality.
All your employees must be informed
Even if the rebranding strategy is carried out by a creative team within the marketing department, it is important that your company's employees are aware of the changes.
They are the first to know and react to the rebranding, so get their input.
Develop the rebranding strategy
Once you have designed the elements of your company that you are going to change, for example, the logo, it is time to develop the plan to put it into action. You have to structure a good plan to launch the new campaign.
At this point you must define when and how you are going to announce your new brand image. Choosing the most appropriate moment is fundamental, do not take this decision lightly, because it is a new opportunity to re-engage customers.
Within this section also take into account other strategies such as content marketing or social networks, because they will help to promote you and make your new image known.
Following the previous example, if you have changed the logo of your company, make sure you change the branding of everything, that is to say, don't forget to update your website, your physical shop logos, if you have them, your products, etc.
If you leave a trace of the old one, it will look unprofessional and you will confuse your customers if they see both logos.
In short, a rebranding strategy is a perfect way to renew your brand, reconnect with the public and the market or relaunch it if it has gone into decline. It is not a simple technique to carry out, as it requires a lot of effort, study, both of your brand, the market and the public, time and money.
we hope we have solved all your doubts!