5 Questions to Ask Before Rebranding
Most small businesses stabilize within two to three years, becoming profitable and familiar to the audience. A company builds a brand image to establish a distinct voice in the market and connect with people.
However, over time, it’s essential for any business to rebrand appropriately. After all, their reputation is at stake.
What is rebranding?
Rebranding is a marketing strategy where a company changes its name, logo, and other brand identity aspects to improve its image, reputation, and performance. There are two types of rebranding:
Partial rebrand
This option is suitable for companies planning minor revisions to how they present themselves to the public, such as a new logo or simple tweaks that freshen their identity. Partial rebrands retain the majority of established brand values.
Total rebrand
This type involves a major overhaul in looks and operations. It includes aesthetic changes, as well as purpose and direction realignments. Total rebrands often occur during mergers or leadership changes.
Why rebrand?
The reasons for rebranding strategies vary. Here are some common ones:
- Aged identity
- New leadership
- Expanding the audience base
- Business acquisition
- Adapting to values and trends
Whether you’re undertaking a complete overhaul or a simple logo redesign, timing is key for a successful rebrand.
Rebranding is a strategy for increased engagement and reengagement. There are several reasons to make this decision. Knowing when to refresh your brand requires careful evaluation.
Questions to ask before rebranding
This article will provide you with 5 helpful questions to prepare for your rebranding.
1. Have our customers and their needs changed?
Ensure any changes you make cater to the people who will purchase and support your brand. Continuously evaluate changes in buyer personas to ensure campaign efficiency and sales effectiveness.
Consider how your audience has changed since you launched your business. Conduct interviews or surveys with your existing consumers to understand what tone and message will resonate. Effectively inform and engage them by packaging your brand appropriately.
2. What problem should this initiative solve?
Identify the issues you are currently facing, such as losing clients, being outperformed by competitors, or stagnation. Addressing these problems will make your rebranding strategy more meaningful. For full rebranding campaigns, this might involve pivoting and offering new products.
3. What market changes should we pay attention to?
Stay informed about changes in your industry, such as shifting towards digital platforms or expanding into international markets with different cultures. Pay attention to your market.
MasterCard’s rebranding example in 2018 is noteworthy. They redesigned their brand mark, opting for a flat logo that translates well to digital use. They eliminated the stripes between the circles, creating a seamless and modern design that represents the payments company effectively.
We can use KFC as an example. The fast-food chain known for southern fried chicken offered Chinese dishes like congee and Peking duck-inspired chicken on their Beijing menu, resembling the country’s delicacy called Peking duck.
There are more ways to adapt your brand to connect with more people.
4. Will this hold up well?
Disengagement is inherent in any business life cycle, but you can slow it down with a good strategy. Avoid following trends, as they are often short-lived. Instead, adapt to consumer needs and the economic climate. Focus on customer loyalty and accessibility to build a sustainable business.
Increase your chances of creating a lasting brand by staying on top of your key performance indicators. Eliminate methods from your company rebrand checklist that can’t be properly measured.
For small businesses, it’s important to spend every penny wisely. Being effective allows you to create a data-backed strategy that’s better than guesswork.
5. Does my design look similar to my competitors?
When rebranding, check for similarities with direct competitors and other brands to avoid confusion among consumers. Ensure originality to prevent lawsuits for plagiarism and copyright infringement. Research can help you avoid compromising situations.
By coming up with a unique branding strategy, you can avoid costly court hearings and improve your share of voice.
Final tips:
– Start strong by introducing your rebrand initiative in a remarkable fashion. Launch a campaign to make people aware of your brand’s changes and reassure existing customers that you’re still the same company.
– Uphold brand consistency through tone and language to appear familiar to customers and drive revenue growth by 33%.
Hello!
I’m Andrew Brooks, a seasoned finance consultant from the USA and the mind behind phonenumber247.com.
My career is built on a foundation of helping individuals and businesses thrive financially in an ever-changing economic landscape. At phonenumber247.com, my aim is to demystify the complex world of finance, providing clear, actionable advice that can help you navigate your financial journey with confidence. Whether it’s personal finance management, investment strategies, or understanding the nuances of market dynamics, I’m here to share insights and tools that can propel you towards your financial goals.
Welcome to my digital space, where every piece of advice is a step closer to financial clarity and success!