Part 2 of 5 part Rebranding Series
In part 1 of our Rebranding series we discussed what rebranding is, its importance,
and the right time to rebrand. Now let’s dive into the strategic process!
Every business or company has their own strategy when starting to rebrand.
Rebranding is a complex process that requires careful planning and execution. While it seems that the process is the same, it can be different from one company, or brand, to another.
Before jumping in on rebranding your business or product right away, you must be aware of the process on how to rebrand successfully.
Know the Process
If you look at the general processes that any business or company do when rebranding, it falls in these categories:
· Strategize the right way
· Building your brand
· Introducing your brand
To start executing the process of rebranding, here is a step-by-step guide:
1. Strategize the right way
Define the Reason for Rebranding
The first step in the rebranding process is to identify the reason for the rebranding. It could be a shift in target audience, a change in company values, or a need to update the brand to remain competitive. It's important to have a clear understanding of the reason for the rebranding before proceeding.
Conduct Market Research and Analysis
The next step is to conduct market research and analysis. This involves gathering data about the target audience, competitors, and industry trends. This information will be used to develop a new brand strategy that resonates with the target audience and differentiates the brand from its competitors.
2. Building Your Brand
Develop a New Brand Strategy
Based on the research and analysis, the next step is to develop a new brand strategy. This may involve developing a new brand identity, including a new logo, color scheme, and messaging. It may also involve creating new marketing materials, such as a new website, social media profiles, and advertising campaigns. The new brand strategy should be aligned with the reason for the rebranding and reflect the brand's values and personality.
Test and Refine the New Brand Strategy
Once the new brand strategy has been developed, it's important to test and refine it before launching the rebranding effort. This may involve focus groups, surveys, and other forms of feedback from customers and other stakeholders. This feedback can be used to make adjustments to the new brand strategy to ensure that it resonates with the target audience.
3. Introducing Your Brand
Plan and Execute the Rebranding Effort
With the new brand strategy in place, the next step is to plan and execute the rebranding effort. This may involve a phased approach, with the new brand being gradually introduced over time. It's important to communicate the changes to customers, employees, and other stakeholders and to ensure that they understand the reasons for the rebranding.
Do different launches
There are ways that you can go about this step, such as the internal launch and the public launch. An internal launch is a good way to introduce the upcoming rebrand to your entire staff and ask them for feedback. Get them excited and looking forward to the new brand that you will introduce. The data you collect from your staff will be useful when doing a relaunch.
Public launch is an opportunity to get attention and let consumers anticipate your brand. It is important that you make the most out of it. The public launch will provide detailed timelines and specific plans on how you can get it out in the market.
Monitor and Evaluate the Results
After the rebranding effort has been launched, it's important to monitor and evaluate the results. This may involve tracking key performance indicators, such as sales, customer feedback, and brand awareness. This information can be used to make adjustments to the new brand strategy and ensure that it is achieving the desired goals.
5 Keys to Remember
1. Appoint a small group of decision makers: Limiting the size of people who are included in your rebranding strategy is significant to streamline the process effectively. This will also help avoid too much confusion.
Ever heard of the saying “too many cooks in the kitchen?”, if too many people are completing tasks or trying to do the same task, it can turn a situation into a mess.
2. Designate a point person: Should you decide on getting a firm to help with your rebranding, ensure that there is only one point person to contact to help manage the flow of information between your company and the rebranding firm.
3. Discuss and verify your brand’s feedback internally: Examine the suggestions you receive from your team. Ensure that it is structured before proceeding. Any conflicting viewpoints should be settled before you work on the strategy you chose with your branding firm.
4. Be open-minded: For your company, a rebranding campaign might result in an explosion of fresh concepts and marketing strategies. But, something "fresh" rarely seems secure or safe. Urge your team to remain open-minded and to focus on the potential.
5. Let your branding agency handle everything: If you chose properly, your branding partner has far more experience in this area than you have, and they have created a process that will get you from point A to point B quickly. With that being said, resist the need to add your own procedures to the rebranding process. It will likely make the process jumbled which can make everything take longer.
Rebranding in a Global Market
In today's global economy, rebranding can be even more challenging as companies try to appeal to diverse audiences across different cultures and languages. It is always best to discuss the unique challenges and opportunities of rebranding in a global market. Take into consideration the cultural sensitivity to language translation, or new trends or market changes, even consumer habits. Discuss these things with your team before deciding on a rebrand so you will be able to make the process a success.
Stay tuned for part 3 where we will discuss how to plan and create a budget when doing a rebrand.