The Art of Rebranding: Key Elements of a Successful Strategy
Rebranding – sounds…daunting?
What does it even mean to rebrand? What does it entail? Why do it? A lot falls under the umbrella of rebranding, so let’s talk about it!
Rebranding entails changing, refreshing, improving your brand identity – and there are a lot of elements to consider when developing your strategy for doing so.
A rebranding strategy is not just a new logo – it’s a much more holistic approach.
You’ll want to consider your image/identity, name, logo, color scheme, packaging, representation, etc…. which will all trickle to your digital marketing efforts – advertising, socials, collateral, etc. But, first it’s important to define what differentiates your company’s product or service in the marketplace and create clear messaging to work from, which should resonate with your target audience. Then, align your design to fit in a powerful way!
While this list is not exhaustive, it includes those immensely important elements that will ultimately determine the success of your rebrand. Let’s dive into each one…
Image/identity – your identity is who you are. How do you want customers to view your brand? What look and feel do you need to emulate to achieve that?
Mission – your mission is your purpose. What do you seek to achieve? How do you separate yourself from competitors? What do you want your customers to take away from your mission? Often, it’s the passion behind your company’s why.
Name – your name is often the first thing customers learn about you. Do you need to change your name to better reflect your identity or purpose?
Logo – your logo illustrates who you are. Updating your logo can be really impactful in your rebranding strategy because it clearly demonstrates to your target market that you’re changing your identity. Does it effectively communicate who you are… or does it need a facelift?
“60% of consumers avoid companies with logos that have weird or unappealing designs, even if they have good reviews.”
Color scheme – your brand colors are an immensely important element in establishing a relationship with your audience. Colors elicit emotions and emotions guide decision-making. How do you want customers to feel when engaging with your brand? What do you want them to do? Are your brand colors consistent with your messaging and the feelings you wish to evoke from your audience?
“About 62‐90% of the assessment is based on colors alone. So, prudent use of colors can contribute not only to differentiating products from competitors, but also to influencing moods and feelings – positively or negatively – and therefore, to attitude towards certain products.”
Packaging – your packaging should support your branding. Do you need to update your packaging to better align with your identity? Have you thought about the environmental impact of your packaging? If your mission supports sustainability, make sure you do!
Representation – your customers should see themselves in your marketing materials. Is there a new influencer that you need to bring in? Who is your target market and do they see themselves in your promotional materials?
Online presence – your online presence is around even when you’re not. Do your website and socials effectively and consistently communicate your messaging? Does your omnichannel approach provide a seamless experience across your various channels?
“It takes about 0.05 seconds for people to form an opinion about your website.”
Marketing – your marketing efforts must engage your audience. What are you communicating about your brand? Make sure you’re communicating where your target audience is (understanding both how and where to reach your customers is essential). How are you promoting your product(s) and/or service(s)? Are you utilizing social media? Does your collateral support and promote your true identity/your mission?
Now that we’ve identified what a rebranding strategy entails, it’s important to understand when and why it would be appropriate or necessary for you to employ one.
When should you rebrand?
If you’re no longer meeting customers' needs (which may just be because you’re failing to communicate your true value), it’s time to rebrand! Providing an effective solution to a problem faced by your customers is the ultimate purpose of your brand, so they undoubtedly must believe that you are capable of doing so. Rebranding does not have to mean updating every single detail about your existence as a company; rather, it can be selecting just a few important brand elements that are no longer consistent with your vision. Is your color scheme outdated? Could your name better reflect your messaging? Are your marketing materials failing to illustrate your value and differentiate you from competitors? Are the messages you’re using in promotions resonating with the right target customers? Tailoring your messaging to reach the customer group you know finds value in your product is a key to success.
Why should you rebrand?
You should rebrand to better connect with your audience. It’s critical to stay relevant and on top of your branding to ensure customers can’t go in search of something more attractive or satisfactory to their needs.
“First impressions are vital to developing loyalty; nearly half of consumers are more likely to become loyal to a brand during the first purchase or experience”.
This helps to illustrate how important it is to ensure your branding effectively communicates who you are. When consumers first interact with your brand, what do you want them to take away? Be intentional in your (re)branding strategy so that with even just one interaction with your brand, consumers understand what makes you different and are inspired to return.
Your (re)branding approach needs to be thoughtful. One thing you want to make sure of is that the right people are weighing in, both internally and externally.
Who should weigh in on new branding?
Leadership – top management should most definitely be involved in your rebranding strategy to not only assist with critical decision-making, but also to build excitement and support within the company.
Customers – customer feedback is irreplaceable. Their opinions matter most, so hear what they have to say to ensure you’re meeting their needs and, if you’re not, developing a strategy to do so.
Blind spot beware!
You may have a blindspot about what you think your customers love. As much as we think we know sometimes, it’s so important to refrain from making assumptions. So, do your due diligence in figuring out what value you actually provide to customers… you may be surprised! There may be an existing quality of your product/service that you aren’t marketing, or could just do a better job of highlighting. Sometimes, the utility customers gain from your product or service is not what you had intended – but, nonetheless, it’s what they appreciate about your brand. You want to avoid misunderstanding what it is the customer actually wants or likes about what you do because this information informs your strategy, and if you miss the mark, your whole rebrand will be built around the wrong benefits.
So, listen to your customers – you need their feedback! Take what they say into consideration for reiterations or enhancements on current products/product lines and services. Ultimately, what you learn will feed into every other aspect of your business and strategy, so don’t short yourself on this part of the process!
To inform your rebranding efforts, check out our flagship product, Cornerpiece®!
Cornerpiece® empowers your organization to discover and leverage its unique strengths, values, and market differentiators. Learn more here!
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