7 Strategic Steps to Smart Rebranding
Reading Time: 7 minutes
There may be many reasons for any brand or organization to go for Rebranding.
Yes, Rebranding serves many purposes. For many brands it comes as a savior to deal with challenges that they had been facing for quite some time, fearing they would lose the ground.
In the words of Bernard Kelvin Clive, REBRAND: The Ultimate Guide to Personal Branding, “Rebrand is not just about buzzing brand words; it’s about repurposing your lives, finding your true voice and building an authentic brand that impact lives. It’s a call to re-examine our lives, our goals and dreams; to think about why we do what we do, to align lives back to source (God) and connect with the hearts of people. It’s a movement, to help, to add value, to create meaning, to impact lives.”
Apart from repositioning themselves in the market, the brands either may be merging with another firm, or may be taking a major strategy shift. Well, whatever may the reason be, the most important questions always pop up – How should rebranding be done, such that it gets the brand maximum benefit? What should be the right rebranding strategy? How should the right strategy be implemented?
Let’s know about the steps you should take to answering these questions, as they form the base of any rebranding strategy.
Begin with an Objective
Rebranding is something that should not be planned out of nothing. Since it requires efforts more than branding, you should first determine a clear objective behind why do you want to make painstaking efforts.
Is your business standing in stagnant waters? Is it just not happening, despite lot many efforts? Is it facing too much competitors? These are some of the common reasons why brands look for relaunching themselves in the market, with a new outlook. While others may involve merging of your company with another, or shifting of business profile, or even some legal implication on your brand requiring you to change.
Whatever may the reason be, if you are not clear about your objective, you will be making lot of effort but to no avail.
Perform Research On the New Market
So now, you know your objective behind why you want to go for rebranding, right!
If it is about making some strategic or profile shift, make sure you know about the market you are going to enter. Perform ample research on the market, the competition, trends and the of course, your clients and customers. Learn about your current brand and its position in the market, and make an assessment about how would you get to where you want to stand in the new market.
The most important part to determine your new clients, learning about their requirements and expectations from what you have or will be coming up with, to offer to them. Make a clear estimation of your current business situation and the position you’re going to get, in the new market.
Without ample research in the new market scenario, you will be facing many blind spots that would lead to distortion of your strategy, time to time. You will be working only on assumptions, just to dive into the pool of uncertainties, only to sink in later.
Determine Brand’s Positioning and Brand Message
While understanding the new market where you will be landing soon, you should be curious to know about how would you like to position yourself in that market, as that will play a lead factor behind your strategy development. Brand positioning gives a way to the image that your brand will be carrying in future. It all depends upon how would you like to present your brand as, and so should your brand message be aligned to it.
Craft your message architecture, yes, the skeleton or wireframe upon which the entire marketing plan is built. Take your time, while creating your brand message, be very sure about it, as on the basis of that only, you will be creating your strategies, presenting your brand and will be consistent with. Brand messages are not supposed to be changed every now and then. So, create them involving lot of thought process.
According to a source, presenting a brand consistently across all platforms can increase revenue by up to 23%.
Develop Your Brand Identity
Well, there are lot many components that you develop your brand identity or image around, such as the name of your brand, your brand logo, the tagline to support your brand name, business cards and lot more. All of them should be designed such that every vector, every word and part of the design expresses something about your brand.
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It is however, important to be consistent on these design elements as they eventually develop your brand identity and reputation in the market.
Build Your Smart & Robust Digital Presence
It is no eureka fact that the entire world has turned digital.
Do you know, there are over 4.66 billion active internet users!
So, if you are not on this big wide digital platform, you are certainly going to lose the ground. It’s never too late to take your business to digital. Get a website as your brand’s digital presence, that would serve as a great business development tool, and a platform where you would present yourself the way you want. There is no other place better than this, where your audience would know you the best. As you plan to rebrand, your website will be the primary platform where you will start the process with. It will serve as the base where all your rebranding strategies will be implemented.
So, even if you have a website, consider upgrading it!
Know about Why & How Should You Update Your Online Presence?
Apart from this, you will be required to build social media profiles, wherein you’ll be active as a brand, interacting with your audience, learning about their behavior and expectations. Your digital presence will position you well in the market!
Create Your Impressive Marketing Collateral
Rebranding is all about remarketing and you will be required to rework on every aspect of it. Your rebranding strategy will require all the marketing collaterals to communicate In various ways, such as brochures, flyers, presentations, and lot more. These collaterals are like tools with which your brand message is conveyed to the audience.
Strengthen Your New Brand Identity
You can do so by building a plan to promote and strengthen your new brand identity or image. Let your every part of the rebranding strategy, communicate your brand message in such an effective way, that brand reputation gets strong.
So, rebranding requires a complete process and there’s no shortcut to this milestone. All you need to do is, begins with devising a smart rebranding strategy that allows your brand to set new milestones with a fresh new image, that will certainly bring rewards for your brand.
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