With technology advancing so quickly and memes coming and going in the blink of an eye, companies often find themselves stuck in a vicious circle of having an “old” brand that is no longer connecting with customers, resonating with employees, but feels familiar and “safe”. Rebranding is something that is often advised against, but it could help a company that is suffering from decreasing sales, low web traffic, and other symptoms of a brand that people do not want to associate themselves with any longer. When your company brand is starting to lose traction and get behind in the times, it may be a good investment to consider some of the following rebranding strategies:
When rebranding a company, it is important to remember that this will most likely be the only chance you get when it comes to your brand, so make sure you are fully invested in your new brand. This means that your staff and upper management see the same vision and there is no ambiguity within the company – everyone should be on board. In the article First Make It Work, Then Rebrand It” the CEO of Avianca Holdings, Fabio Villegas, writes; “Twice we postponed the launch of our new visual identity. That is how strongly I felt that unification had to be complete inside the building, so to speak, before it was reflected on the sign out front.” What this shows is that before your rebranding takes place on the outside, everyone within the company, business, or organization needs to truly be engrained into the new culture and processes you are attempting to bring out and show to the world.
When brands get stale they suffer – if marketing campaigns and social media outreach have failed and there is absolutely nothing else you can do to try to spruce up your brand, then you should consider rebranding. Rebranding your company will be time consuming and expensive, and will need extensive thought and planning to go into it.
You should focus on what your rebranding strategies are going to be first, and focus on how to rebrand your company name or logo after you have a concrete idea of what your company will be changing and doing differently. Your company should have a highly focused plan and be thinking like a potential customer: what sets you apart from the rest? Why should people pay for your business? Are you being consumer friendly with your new ideas? If you are going to rebrand, you need to go all in and not do a partial rebrand. Everything needs to change at the same time to avoid confusion and retain current customers who should be tipped off to the rebranding well ahead of time. The name should reflect your business practices and be easy to understand and correlate to what you do as a company. You will need to make sure that people see your brand and understand the message, the name, the logo, everything! What you do not want are people to still ask questions about your business and what you do after explaining your new brand.By: Dana Nevins
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