Suppose you have a perfectly curated brand identity. Your logo is easily recognizable. Your color schemes are married across every platform. Your tone is distinctly you. A rebrand might be the last thing on your mind.
However, the digital marketplace is ever-changing. As a result, even the most established businesses can become obsolete if they don’t meet their customers’ evolving needs. If you need to freshen up your marketing approach, there are many ways to do it—we’ll take you through all the steps.
What is a Rebrand?
Rebranding involves taking a second look at how audiences perceive your company. It typically involves researching current brand views and consumer needs, then positing new marketing opportunities.
After informing your strategy, it’s time to reimagine your brand. Rethinking your verbal and visual identities might include taking a new stab at your logo, experimenting with typography, updating your tagline, or changing your messaging.
The last step is the brand activation stage, culminating with a website redesign and publishing your new and improved marketing collateral.
Reasons Your Business Might Need a Rebrand
No business is immune to the consequences of an evolving customer base. As consumers’ priorities change, the greater the chances of your brand being left behind. If you’re experiencing any of the following, it might be time for a rebrand.
Your Brand Name No Longer Communicates Your Vision
A brand name bears more weight on your business than you might anticipate. As a result, what might’ve succeeded more than a few decades ago might not achieve the same results in 2021.
A brand title should be the foundation of your story and what your business aims to embody. It should be unique, memorable, and undoubtedly you.
An outdated brand name might no longer suit your customers in a cultural context. Or perhaps you’ve branched out into various new locations—in which case, geo-targeting your brand name isn’t going to be helpful.
You Want to Clear Your Bad Reputation
Unfortunately, one wrong move can tarnish your brand’s reputation, making it seemingly impossible to recuperate. However, it provides a unique opportunity to rebuild from the ground up.
While accountability is the key to resolving a crisis, repositioning your brand and its philosophy can restore consumer loyalty.
Trends are Rapidly Changing
Design trends change in the blink of an eye. However, rebranding every time the Pantone Color of the Year is announced will only provide surface-level impact. Instead, you can focus on making sure your design elements—like logos and color schemes—are easily adaptable.
Technology is Leaving You Behind
Keeping up with technological advancements is an excellent way to let consumers know your business is always up-to-date. Nowadays, digital features like AR and website gamification are all the rage—and play to your consumers’ desire for something new and enticing.
Competitors Have the Upper Hand
Staying ahead of your competitors is an ongoing journey for any business, whether thriving or not. Ultimately, the core of your brand strategy is competitive differentiation. If you’re failing to keep up with your competitors, rebranding your business can remind consumers to whom they ought to be directing their attention.
How to Successfully Rebrand in 2021
If your business could use a rebrand, there are dozens of ways to get started. Here are a few ways you can get the ball rolling.
Reestablish Your Target Market
Sometimes, part of rebranding is catering to a new target market. Appealing to this new demographic can give your lead funnel a significant boost and benefit your bottom line.
Start by looking at your existing consumer base—are you still their go-to source within the industry? Are they doing business with someone else? Why?
Consider how your competitors interact with this demographic and use focus groups to establish what they’re doing that you aren’t.
Audit Your Changes
Auditing your rebranding strategy is an underrated aspect of making sure the process runs seamlessly. Your comprehensive plan of action should lay out:
- What needs to be changed
- How you are going to facilitate this change
- When you are going to facilitate this change
- How successful these changes are
Then, list every marketing element that needs to undergo a makeover.
Change Your Brand Name
Renaming your company is a powerful but challenging decision. If your name no longer suits your brand philosophy, changing your name makes sense—but prepare to take a hit to your brand recognition and organic traffic.
To make the rebranding shift a little less daunting, consider making the change a little less jarring. For example, you can give your company name a subtle upgrade by adding a prefix or suffix or modifying its spelling. Alternatively, you can use a location or look into other languages.
Upgrade Your Slogan
Much like a company name, a business slogan should be catchy and reflective of your brand’s mission. Unlike a company name, a slogan upheaval is a little less stressful on your marketing efforts—but it can become easy to get carried away.
Before changing your slogan, consider the reasons for doing so. Remember, repetition builds recognition, so being tired of hearing your slogan doesn’t justify an overhaul.
However, if you decide a change is appropriate, you can begin with these points:
- Make a claim—state clearly what your business hopes to achieve
- Use a metaphor or poetic language
- Make your slogan actionable
- Make it about your customers
Rework Your Visuals
Tangible marketing elements likely to undergo a rebrand include your logo, typography, and color palette. Whatever makes your rebranding checklist, remember to keep it simple. Cramming too much symbolism into your logo or going off the rails with color variations can become confusing for your target audience.
Instead, focus on keeping your elements adaptable, impactful, and appropriate. Rebrands shouldn’t have to occur annually, so considering what works long-term is the key to a successful rework.
The Bottom Line
Rebranding is a natural component of business growth. Now that you know what it entails, the first step is to decide whether it is appropriate to upgrade. If so, our experienced marketing team at Igloo can help you craft a winning strategy that achieves the return you deserve.