So, you’re ready to rebrand. These are the steps you need to take to re-establish your audience, market, and values.

Any major change of tack can be a confusing and tumultuous time for a corporation. Rebranding your company, while uncomfortable and intimidating, can pay off if executed successfully. We have seen rebrands that have set company stocks soaring and others that have sounded the death knell.

Here are some simple considerations with major implications to consider before going the rebranding route.

What is a rebrand?

Much as the label implies, a rebrand fundamentally changes a company’s brand appearance. The most common ways to achieve this are through a change of name, the introduction of a new logo, and/or a complete redesign of its customer-facing side that includes the website and stores.

The objective is to create a new brand identity for the target market. The reason could be because the old version was losing its potency or because the company is modifying its image to pursue a different, narrower, or expanded demographic.

Rebranding 101

Here are the five essential elements of a successful rebrand.

  • Target audience – Use focus research and detailed data analysis to establish what your target audience is buying, and who from. Determine if you are rebranding to entice more of the same group, pursue a new one, or to expand or claw back market share.
  • Redefine your company – Establish who you are, what you do, and why you do it. Develop a powerful Mission Statement that encompasses that information as well as a Vision to keep you aligned with that objective.
  • Name, logo and slogan – Yes, these are not the first things to consider but should instead follow the two steps above. The new name, logo and slogan should encapsulate the company’s fresh direction.
  • Monitor sentiment – It is easy to get swept up in the excitement and chaos but don’t forget who you are doing it all for. Track customer sentiment and fine-tune your process with that information.
  • The final reveal – All of this effort leads to the final reveal of your new brand image to the world. Blitz the airwaves with news of the change, employ social media to carry and amplify the message, and organize exciting events to coincide with the momentous occasion.

When Not to Rebrand

Not all rebrands are successful and almost all of them share one or more of these fatal flaws:

  • Bad publicity – A rebrand in response to a catastrophic faux pas or widely-reported scandal underestimates the intelligence of the market. It is better to adhere to a better set of core principles – and show you are doing so – than to forcibly introduce a shallow cosmetic change.
  • Monotony – Seeing the same logo and the same brand colors day after day can almost be depressing. While that may be true for the company’s employees who see them repeatedly every single day, customers may beg to differ and have a nostalgic attachment to the familiar.
  • For change’s sake – A dynamic pivot may seem to an executive like the easy (and quick) way to establish their mark. However, it will be counterproductive if not underpinned by more substantial motives. I’m here to help you get started on your successful rebrand.

I’m here to help you get started on your successful rebrand.