In every business, there comes a time when you need to rebrand. Perhaps there’s been a drop in sales or engagement, you’d like to attract a new audience demographic, or your current branding just no longer aligns with the future direction of the company.
Whatever the reason, rebranding can be a risky undertaking, especially when you need to achieve the often-delicate balance between pursuing a new audience and retaining the loyalty of your existing customer base. People prefer to engage with brands that they have an emotional connection with, and this familiarity can be irrevocably broken when a rebranded company becomes unrecognisable.
So, before you begin the process of transforming your brand identity, we’re created a list of questions to help you master the fine art of rebranding:
TIP 1) DO YOU NEED A BRAND REFRESH OR A REBRAND?
As marketplaces become increasingly dynamic and unpredictable, the need to stay competitive also intensifies. But that doesn’t mean a full rebrand is necessary to revitalise your company – it could be as simple as tweaking your logo or trying some new social campaigns to spark interest. Refreshing your brand is a faster and more flexible process than completely rebranding, especially when you take into consideration how complex the process of brand meaning creation and negotiation actually is for stakeholders.
With the longevity of businesses often relying on easy brand recognition and emotional connection or familiarity, becoming unrecognisable can only hurt your chances of success. Maintaining consistency is also important, reassuring your customers that the same level of quality and service will always be available to them.
TIP 2) WHAT IS THE PURPOSE OF THE REBRANDING?
Another thing you need to consider is exactly why the rebrand is necessary. Are you attempting to capture a different target audience, or increase your profit margins? Are you a legacy brand trying to keep up with the times, or a new company who didn’t make a big enough splash when you launched? The purpose behind the rebrand can also help shape what you would like your organisation to become.
Rebranding is particularly useful for businesses who would like customers to perceive their brand in a different way while maintaining their accumulated brand equity or brand recognition. A rebrand can help differentiate your company from the competition, overcome negative public perceptions, or highlight the humanity of your brand to potential customers.
TIP 3) HOW COMMITTED ARE YOU TO THE REBRAND?
This can be a difficult question to answer until you’ve begun the process of rebranding, but it’s normal to feel doubtful about such a large, disruptive change to your company. There is always the risk that your existing customers won’t like the finished product, or the possibility that the rebrand isn’t the silver bullet your company needs for lasting success. However, not finishing a rebrand can be just as damaging to the longevity of your business as never starting one at all.
Committing to the rebranding process is always easier when you have support. Asking for feedback on brand design elements, communicating your intentions to your audience on social media, and holding workshops with internal and external stakeholders are all effective ways to create a strong, unique brand identity which lasts.
Considering a brand refresh or full rebrand on a budget? Well, as it turns out you can create pretty much any brand element using PowerPoint – it really is one of the most innovative and creative design programs available. And if you’d like some expert advice on any part of your rebranding process from graphic design to writing compelling content, the team of Synapsis Creative is here to help! Contact us today for a free design quote or to discuss your company’s requirements.