Social media and other digital platforms have done wonders in terms of connecting and growing businesses. But, the downside to this reach is that your competitors are just a click away.
In such a situation, how can you stand apart from the crowd?
Great branding is a sure-shot way to let your users know who you are and what you stand for.
With the right kind of brand strategy, you can go that extra mile while making sure your business is more visible to the audience.
Although rebranding in itself can seem like a challenging task, it is a worthwhile investment.
Rebranding your business helps you reinvent your vision and brings you closer to your users.
Rebranding Vs. Brand Refresh?
Today’s dynamic business environment demands every business to be steadfast. Your brand must evolve to be able to survive and lead in the current market environment.
But, how do you decide what kind of change your brand needs? This is when most businesses confuse a brand refresh with a rebrand.
It is all about the size. The core difference between the two depends on the magnitude of change you wish to undertake.
A brand refresh can include changes in your brand’s logo, communication, and visual identity whereas rebranding is the act of reimagining its core persona – the very essence of your brand.
Refreshing your brand helps you build on your existing strengths while its broader image remains unchanged.
A rebrand, on the other hand, focuses on the complete repositioning of your business and aims to provide solutions to systemic problems.
The success of your rebranding depends on one crucial factor: Timing.
You should be able to decide “When” is the right time for your business to rebrand itself.
More importantly, when does your brand need this change?
Here are 5 Ways to Tell If You Need to Rebrand Your Business
1. You’ve outgrown your original brand vision
The correct branding should reflect all that your company encompasses. Your brand strategy should tell your prospective audience, customers, and investors who you are now and why.
A well-defined rebranding strategy also takes into account where your business will be several years down the road.
If you’ve expanded or changed your existing offerings, you must solidify your purpose, mission, and values to complement these new changes.
2. Your current brand strategy lacks an emotional touch
Humans connect with humane brands.
Brand loyalty, customer reliability and commitment are essentials to any business’s success. One of the best ways to ensure these factors is by establishing a genuine relationship with your users.
The foremost example of a brand that instantly strikes a chord with its audience is our beloved Maggi – the quintessential comfort snack.
Over the last few decades, Maggi has successfully positioned itself as the brand that everyone loves.
With heartwarming campaigns like Me and Meri, Maggi has personalised its consumption experience by appealing to anyone and everyone across the nation.
If you’re unsure about your existing brand strategy, it is important to ask yourself – does your current branding emotionally connect with your audience? Do your users feel a sense of belonging? Have you established a genuine relationship with your audience?
If not, rebranding your business can help you forge a strong and lasting relationship.
3. Your brand fails to resonate with your target audience
Carmesi, an all-natural intimate care brand for women focuses its branding on breaking the stigma surrounding women’s intimate needs.
For their marketing campaigns, Carmesi uses the colour red in contrast to mainstream brands in the industry, which continue to use the blue colour to showcase menstruation.
It speaks to its target audience – women and manages to strike an emotional relationship with them. It’s a complete win-win situation.
Failing to connect with the audience your brand is meant for poses a grave problem. The solution? Rebranding.
4. Your brand doesn’t stand apart from its competitors
Why do businesses invest in good branding? Because the main goal of branding is to make sure your brand stands apart in a sea of competitors.
If people commonly confuse your brand with the ones you’re competing with then it’s definitely time to consider rebranding.
A good rebranding can help you identify and communicate your brand’s key differentiators.
A well-defined brand strategy will help you position your brand better than its alternatives.
5. You’re unable to attract fresh talent
Great brands go beyond great design and taglines. They also attract the finest talent in the industry. If you’re unable to source the right kind of people for your business then rebranding can help you spruce things up.
Rebranding takes you a step beyond finding good resumes. It helps you find your people – exceptionally driven individuals who would be interested in growing with your brand.
Do you think it’s time to rebrand?
A rebranding is an exciting process that opens your business to new and better opportunities.
It’s about getting your target audience to remember you, and making them aware of your new and improved branding.
Undoubtedly, there’s a lot that goes into rebranding your business. But, you don’t have to do it alone.
If you think you’re ready to get started then we can be Step1 in your brand’s story!
Our dedicated team is here to help you with each and every single step of your rebranding process.
If you’re looking for more information on rebranding or any other marketing services, please contact us at ___.
We’re always happy to help!
FAQs
1.) What is the first step of rebranding your business?
Before you dive into a rebrand, the first step is to figure out what is wrong with your existing brand strategy.
Your fresh rebranding strategy would then focus on overcoming these fundamental communication challenges.
2.) What are the challenges of rebranding?
Rebranding can be time-consuming and expensive. Beyond the challenges of investment, change in general can feel tedious.
A possible solution to same could be communicating your brand’s current problems with your team to ensure everyone understands the need for this change and can be more accepting of it.
3.) Should I announce my rebranding?
There’s only one simple answer to this – yes. In fact, the announcement of your rebrand is one of the most important parts of the process.
The best way to ensure a successful relaunch is by generating some much-needed buzz around your big announcement.
