Rebranding is: understanding, function, stage and example
When the world trend continues to change, it may be difficult to maintain a modern image for a brand. Rebanding is an option that is often overlooked by business owners, but keeps the look and nuances of your brand stay fresh and the latest can be the key to keeping your company at the top of your industry.
Read on this article to find out the definition of rebranding in depth and you can apply to your business:
Is it rebranding?
Rebanding is the process of changing the image of the company from an organization. This is a market strategy giving new names, symbols, or design changes for established brands. The idea behind rebranding is to create a different identity for a brand, from its competitors, on the market.
There are several reasons the company makes rebranding. One of the main factors is connected with customers. Rebranding is good for business, but at the same time it can be risky. There is always the possibility of consumers not like brand new.
There are two types of rebranding: one proactive rebranding and the other reactive rebranding. Proactive rebranding is done when a company realizes that there is an opportunity to grow, innovate, enter a new business or customer, and re-connect with its users.
While reefranding is done in situations where existing brands have not been continued or changed. The possible reasons for such actions can be due to mergers & acquisitions, legal issues, negative publicity such as fraud, which aim to defeat competition, or make your own market niche.
Rebranding function for businesses
1. Connect with a new audience
The biggest advantage of refreshing the look and nuances of your brand is its ability to reach new customers. When you focus on the new aspects of your business and promote it correctly, people will pay attention. Rebranding can offer the stimulation needed by your business to create new growth in the market that continues to grow.
2. Distinguish yourself from your competitors
When you develop a business, your ability might start competing directly with competitors in the same industry as you. Brand changes can be the most effective way to distinguish your company’s offer and approach.
Distinguish your brand shows prospective clients that your service is unique and you are the expert. Rebanding your company to have a voice, look, and feel yourself will help build your business as an industry leader with an interesting personality for your audience.
3. Stay up to date
Rebranding has a simple goal: to keep your brand stay up to date. Design trends play a major role in how potential customers or now see your company and all they offer.
Ensure that your appearance is always the latest showing your customers that you pay attention to the existing trend in the industry.
4. Reflecting new goals, products, offers, or values
It’s hard to show how your company has developed if your brand doesn’t reflect it. If you have developed to offer new products, develop by including more services, or setting new goals for your business, then rebranding is a great way to show that your business develops.
5. Increase profits on business
The benefits of rebranding will not only affect your overall entry strategy, but will also make your company more profitable.
Reaching new prospective clients, stand out from your competitors, show your skills, and expand the influence and range of your products and services is an effective way to increase your profits just by giving your brand and new look.
Effective rebranding strategy
1. Start with the right business reasons
Each rebranding strategy must begin with a comprehensive understanding of the business reasons behind the rebrance. Is it driven by the need to speed up growth? Does your company need to compete with greater and more established competitors?
Some cases of this business are very easy to make, such as combining two companies or such as enlarging your image.
If you are not clear about business reasons that encourage these efforts, you risk throwing out a lot of resources. Some of the other main reasons for changing the brand of your professional service company include:
- You need to compete at a higher level or in the new market.
- Your brand no longer reflects who you are.
- Your company is separated from existing brands.
- You have a legal reason that forces you to change.
- You need to simplify and focus your message.
- You have a new marketing team.
- You launch a new service channel.
2. Your company research and your target client
When you are clear about business cases for rebranding, the next step is to conduct independent research on your company and your client.
If you try to move to a new market, the research must include your new target client too. The aim is to have an objective understanding of the perceptions and competence of your current brand.
Without this research, you will operate from an internal perspective. Your research must be oriented about buyers and sellers of professional services show that almost all companies have blind points and change the way the market looks at them.
However, we are all humans. Without objective research, you will build a brand on the wrong assumption.
3. Use positioning and messaging to capture your brand strategy
When you develop market positioning and architecture for company messaging, you will find the essence of your brand strategy. Market position determination is a brief description of your position in the market room. Are you innovative leaders or low-cost providers?
This position determination will encourage many of your next decisions. But you can’t just make this determination.
It needs to balance who you are as a company and want to be who you are. You must be able to support your positioning or your brand will be empty.
Your messaging architecture articulates your message to each of your main audiences. These messages must be consistent with your brand as a whole and can be supported. This is not a marketing copy. This is a framework where marketing copies are built.
4. Build your brand’s identity
This is part of the rebranding strategy where you develop visual elements that will communicate your brand.
Think of company names, logos, taglines, colors, business card designs, stationery, and the like. These elements are often described in brand style guidelines documents, which provide a set of parameters to ensure your brand is applied consistently in all of your marketing material.
Many people disrupt these elements with your brand. Your brand is a reputation and visibility of your business, not a company name or logo. Your brand identity is a kind of visual abbreviation for your brand.
5. Build a website and increase your online visibility
Your website is the most important communication and development tool for your business. This is a place where you can tell interesting stories to each of your audiences. This is the first place for prospective clients or employees to learn more about your company.
It is not excessive to say that your website and online existence are the heart of modern professional service companies.
All rebranding strategies eventually involve your site. In a very real way, the website is built on the framework of your messaging architecture. Together with the existence of your remaining online (think of social media, for example), it is a full expression of your positioning.
6. Guaranteed Marketing
At this stage in the rebranding business strategy, you will develop all the marketing material you need to communicate your brand messages and services. Think of short presentations, proposal templates, brochures, one sheet leaflets, and trade show booths.
This is a tool that you will use to communicate your message. They must be firmly embedded in your brand strategy.
7. Plan to build a brand
The last element of your rebranding strategy is to develop a plan to promote and strengthen your new brand.
How will you launch it internally? In professional services, it is important for your employees to receive new brands. However, they are your product.
It is also important for businesses to build a brand in a way that communicates your company’s reputation and expertise, and its name. This must communicate your market position. Build different brands for professional services.
Some rebranding strategies fail because they try to shorten the process. The others failed because they chose the wrong colleague. But it doesn’t have to be like that.
Start with a good rebranding strategy. Find experienced partners. Give appropriate attention to rebranding and the prize will follow. Companies that have good positions that clearly communicate their brands are indeed a formidable competitor.
Example of a successful rebranding case
Apple
Remember at the beginning until mid-90s when Microsoft mastered the computer software industry and Apple barely survived? This is a far different story today, and it is mostly part of the return of Steve Jobs and the change in Apple brand that began in 1998.
Introducing: IMAC.
Interesting color. Beautiful, easy to operate. Sorry, there is no cream. It’s just a few imac slogans that are perfectly paired with a new look that has never seen the previous PC world.
You can not only choose your own color for a personal touch, but your PC and monitor are now an all-in-one unit, which makes sense. The Apple logo also gets current changes to adjust to their new product, eliminating the appearance of a rainbow for a shiny and reading display. Their new tagline becomes “think differently”.
With Steve Jobs lead the company, Apple remains with their new look, which displays a clean design and simplified messaging.
They continue to create very innovative products, release iPod, iPhone, and iPad, while their competitors tried hard to follow him. Over the years, Apple has built loyal followers, and has improved itself into one of the most popular brands around the world.
McDonalds.
McDonalds has been a leader in the fast food industry for decades, however, their image is not always positive.
In the early 2000s, this was widely seen as the lowest and unhealthy choice of fast food for many. Many people even boycotted, with “too-good-for-McDonalds” attitude.
The launch of the popular documentary “Super Size Me” in 2004 played most of these problems, especially utilizing McDonalds to prove that fast food is very bad for our health.
McDonalds watched this stigma and took action in 2006. They changed their menu to provide healthier and higher quality choices to attract healthware people.
Salad, and “signature crafted” sandwich debuted between their traditional menu items. They also added a new focus on coffee drinks, giving them the advantages that their competitors did not have.
As a complement, they fully reworked the building and their interior design became more like a hipster favorite coffee place and not like a cafeteria. Their new image seems to succeed too – McDonald’s income increased 58% since their redesign.
Conclusion
Does your brand message make a good relationship with your audience? Is your product innovative? Do you face negative perceptions from the public you need to overcome?
Even though it’s not a complete list of questions to consider, this is all important thing to think about if you are considering rebranding your business. Learn the success (and failure) of the brand change will help you make a smarter decision and avoid futile results.
Also make sure the financial process in your business is monitored and managed well through an integrated system that makes it easier for you to plan business planning in the future.
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