A common misconception is that branding is simply a logo or a graphic element. On the contrary, it goes beyond just that. Branding is essential to big and small businesses in New Zealand. It involves every aspect of a customer’s experience, from the logo, staff uniform or corporate clothing, social media posts, to marketing techniques. It also encompasses the way an organisation’s customer service interacts on the phone with their customers.
At some point in a business’s history, there may come a time to switch things up and rebrand. As companies grow over time, they add new products and explore new markets. They might want to service a different kind of audience. Or they simply want to reengage their current customers. Rebranding can be done for many reasons.
While rebranding has many benefits, it is a slippery slope. It can have some disastrous downfalls if not planned and done correctly. Here are some ways to ensure that rebranding goes smoothly :
Establish the Reason for Rebranding
Any strategy should start with a purpose and a thorough understanding of the business goals. The same applies to when a business decides to rebrand. Is it driven by a need to differentiate the brand from competitors? Is it to draw a different crowd for a new line of products and services? Or is it to recover from a negative image? Some business cases may be easier to make. However, if the reason for rebranding is not chalked out and laid out clearly, an organisation could run the risk of wasting a tremendous amount of resources.
Determine How Much of Rebranding Is Required
Rebrands are complicated, and even large companies are not immune. For instance, a multinational ride-sharing company decided to redesign its logo after expanding into adjacent services such as food delivery. Unfortunately, up to 44% of their customers were unsure what the new logo represented, and the company suffered a decline in customer connections because of the simple logo change.
Depending on the company goals, rebranding can be done in two ways: partial or full rebranding. A total rebrand is very rare. On the other hand, partial rebrands are more common and less disruptive.
A partial rebrand typically includes simple and minor changes to the brand logo or to certain products to upscale them. Whereas, a full rebrand is more in-depth and requires major transformations. The changes can be in the name itself, logo, target market, and products or services. This is often done after a brand has suffered reputational ruin after a crisis.
Make the Rebrand Known Through Effective Marketing
Current customers, target audiences, clients, and even competitors should all know about a company’s rebranding efforts. If possible, customers should be included in the process. A press release, for instance, is one way to let customers know the reason for rebranding and its significance to the growth of the business. Highlight the potential benefits of the rebrand. Most importantly, any rebranding efforts should maintain a consistent and unified messaging throughout the entire brand presence, online and offline.
Most of the rebranding efforts are firmly rooted in a need to reposition the company in the marketplace. Reasons could range from a simple merger to a complicated shift in business strategies. Regardless of these reasons, it is important to establish the purpose behind the rebrand, determine how much of change is actually needed, and ensure a consistent marketing strategy throughout the whole rebranding process.