There are many reasons you might think about rebranding and introducing a new brand. The steps in this manual can assist you in the process whether you’re trying something new or starting over. But before that, let’s look at the difference between a new brand and rebranding.
Difference Between New Brand And Rebranding
A new launch refers to the introduction of a product or service into the market for the first time. It typically involves a lot of marketing efforts to create awareness and generate interest among potential customers. A new launch is a crucial stage in a product or service lifecycle, as it can determine its success or failure.
On the other hand, rebranding involves changing the image, name, logo, or any other aspect of an existing product or service to give it a fresh look and feel. The purpose of rebranding is to revitalize the brand, attract new customers, and retain existing ones. Rebranding can also be done to reposition a product or service in the market or to align it with changing customer needs or preferences. Both new launches and rebranding efforts require careful planning, market research, and a clear understanding of the target audience to achieve the desired outcomes.
Before you start the rebranding process, it’s critical to know why you’re doing it. This guide can help you comprehend the main steps of the process of launching your new brand if you need assistance determining the reason for the rebrand. Let’s discuss the justifications for a rebrand. It’s crucial to understand your motivations before beginning the process. Because your current brand no longer accurately represents your vision, mission, values, and target audience, you might be thinking about rebranding. Other causes include:
New areas: You may be relocating your corporate headquarters or seeking to enter international markets. You can rebrand to more closely reflect the culture and identity of these markets by researching them.
If your target market has changed, you’ll need to adjust your brand to meet its new needs. In this situation, having the research and data to support your rebrand is useful.
A philosophical shift has occurred, necessitating a rebrand in order to reflect the new vision, mission, and values of your company. To ensure that your new messages are reflected in your brand, this frequently involves a complete rebranding of your business.
When two businesses are combined through a merger or acquisition, the branding needs to be updated to properly appeal to the target market. When two businesses merge, a lot can change, making a complete rebrand the best course of action in this situation.
You shouldn’t rebrand for a number of reasons. These consist of distraction, crisis cover-up, impact, or attention. In these situations, it is preferable to deal with the underlying problem rather than mask it with a rebrand. It’s best to maintain your current brand and work to change it to suit your needs.
It’s time to start working on rebranding now that you are aware of why you want to do so and that doing so is the best course of action. Decide whether you want a partial or complete rebranding before anything else.
Total vs. Partial Rebranding
Remember that when you rebrand, many of your current customers won’t recognize you. You might be losing a lot of those customers if you completely rebrand your business. More can be lost the more established you are. A partial rebrand is a much better option in this situation. A total rebrand is the better option to pick from if you’re still in the early stages and need to completely revamp your business.
Once you’ve made a decision, you should create a plan. The following are the steps to remember:
Re-establish Your Market And Audience
It’s time to conduct a thorough analysis of your audience. This may not be what you initially believed after careful investigation and thought. Make sure you have the information to support your research so you can identify your target audience. By doing so, you’ll be able to best adapt your new content to this market.
Reassess Your Mission And Goals
Your company’s “what,” or what it stands for, is your vision. Everything from branding to corporate culture and hiring practices will be impacted by this. How will you carry out your vision, which is your mission? This is the road map for your business’s progress and realization of your vision. Finally, your values are what drive you. These are the motivations behind your desire to realize your vision and the basis of your business.
Rename Your Business
It’s best to keep your company’s name if you can rebrand without doing so so that your previous clients can still recognize you. But if your company has undergone significant change to the point where the name no longer applies, it’s time to begin the renaming process. This can be accomplished by creating original words, repurposing existing words, studying other languages, etc. There are so many different ways to come up with a new company name, and it might be beneficial to involve your staff!
Renew The Brand’s Identity
Now for the enjoyable part. You can start working on developing your brand identity once you have your roadmap and target market. This includes the logos, colors, and typography that will be used consistently throughout your visual materials to build brand cohesion. These will serve as the new face of your brand, whether you can produce them internally or must hire a design firm.
Credit: Scott Jones
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