“Perception inspires belief, belief engenders behavior, and behavior spawns purchase.”
That’s why branding (and rebranding) matters. Branding isn’t something you can quantify or point a finger and say “There it is”. Branding is how your company or product is perceived by an audience. Branding allows you to mold your customers’ insights about what your business is. Consequently, rebranding is one of the most solid investment you can make for your business. The major factors that determine if it is time to rebrand your business are:
- If your competitive advantages become less eloquent.
- If your brand becomes too hard to comprehend because there is no focus.
- If your brand name, logo, and the company’s vision are no longer aligned.
- If your business model has been revamped.
- If you have remodeled your business strategy.
- If you have been merged or acquired.
- If your demographics have changed or you have expanded your geographic reach.
- If a negative image has propped up from your current branding methodology.
These are some of the looming reasons why rebranding might be in order for your business. If you have experienced any of the above drawbacks and have decided to rebrand, let us look at some motivations for investing in rebranding. Yes, rebranding MUST BE looked at as an investment and not an expenditure. Let us list out the 6 major positive implications of rebranding if done properly.
So now that we know when it is time to rebrand and what advantages it can do for your brand, let us look at how to actually do it; What work goes behind the process and how to properly implement it. The entire process can be segmented into 5 steps. These steps are part of a journey and do not come one after the other exactly. Some steps may need to be revisited depending on the outcome of the succeeding one.
Any initiative, branding or otherwise, is built on the foundations of good, insightful research. An evidence-based approach is apt for rebranding researches. A comprehensive understanding of the processes of your company at a granular level and the implications it has upon your audience is an inevitable necessity for the research. It also gives you an idea about where you stand amid the competition in your niche.
The psychological and behavioral undertone of your brand and its services need to be analyzed and aligned with your strategy implementations. Purpose, Vision, Mission, and Values are important terms to be considered, defined, and scrutinized while settling on a strategy.
Brand identity must not be a consequence of your logo, title, and tagline. On the contrary, your identity must be the tone of the design that goes into these. Your brand’s identity must be a visual treatment of its personality and purpose. It must be a by-product of the research and strategy planning that goes into rebranding. The elements of your identity will be explained later through another infographic.
Expression is reflected in the instances of your brand’s interaction with the masses. The expression is the tune that the brand sings to the audience. It should capture the brand’s spirit and paint sceneries that aligns with the brand’s purpose. The expression should have the tempo of the brand’s personality.
Although alignments of various kinds and degrees have been scattered throughout this article, true alignment is structured in branding efforts. It begins with the brand guideline that underlines each and every aspect that needs to be considered while rebranding. This will help both your employees and your customers to be in sync with the brand and have realistic clues as to what to expect. I used the term clues in order to highlight the importance of spontaneity and unexpected offers that you can indulge in, in order to make your brand more appealing.
Now let us look at the major points that come under each of the steps under the process of rebranding.
Rebranding can tap into the unseen opportunities that lie within your business and enable you to effectively exploit it. It has become an integrated process that needs to be meticulously executed. Rebranding rejuvenates the brand. It is like starting over, but with a better understanding of your brand and the market. The bottom line is that rebranding is done for the sake of acknowledging the changing times. For the sake of innovation.