What is rebranding strategy? It is the complete renewal of a company’s brand identity and includes the product promotion strategy, the way of communication and the redesign of the visual identity.
The key to rebranding is the gradual redesign of the brand, starting from the core element, which is the product and its position in the market, and continuing with the way of communication at the marketing level and the design of the visual identity.
If you are an entrepreneur thinking about rebranding your business, then this article is your guide to a successful strategy!
See how rebranding can significantly renew your visibility in the market, bringing you positive results and where you need to give special emphasis.
In this article we will learn:
- When does a business need rebranding?
- Which are the advantages of rebranding?
- Everything is a matter of strategy!
- The different types of rebranding
- What are the steps for a successful rebranding strategy?
- How to plan a successful rebranding strategy with NUS Solutions
When does a business need rebranding?
Brands, like the products they represent, are constantly changing. In this case the rebrand is needed. This may involve a change to the product, renaming or the addition of extra products.
In addition, rebranding is necessary when you want to reach a wider audience and promote your product to new customers. In this case the recipe is simple: keep existing customers happy and reach new ones. You may again want to aim a new target – group or your existing audience may have acquired a negative attitude towards your brand.
Which are the advantages of rebranding?
The main benefit of a successful rebranding is an increase in sales. But how can he achieve this?
First, rebranding essentially renews a business and proves to the public that the brand keeps up with the times and new technologies. Especially for older businesses, rebranding helps build a relationship of trust with their audience, as they demonstrate that they love evolution.
Second, a rebranding tends to “stir the waters” and automatically attract the attention of additional prospective customers.
In addition, with your new brand, you can strengthen relations with your audience by targeting practices that will endear you even more to your target group, building a stronger relationship with them. Finally, rebranding can make you stand out from your competition and redefine your position in the market more dynamically.
Everything is a matter of strategy!
Strategy is the number one word in the business world. The reason that in many cases our rebranding does not bring us the results we want, is the absence of a comprehensive and targeted strategy.
A simple change in corporate colors or logo may not bring about the changes you desire. This is also one of the biggest misconceptions about rebranding. Let’s not forget how the center of every brand is the product it represents, so any rebranding effort must include a total readjustment of the product’s communication to our audience.
In particular, by utilizing Inbound Marketing you can complete your rebranding strategy, to create a completely renewed Brand that reflects the updated Marketing strategy of your company, in all the communication channels used.
In designing a new strategy, you should consider the following questions:
What are your brand goals?
Your brand, in addition to a specific product, also represents specific values and goals. The goal varies from business to business: in other cases, it is profit, expansion, or inspiration.
At the rebranding level you must think: does the purpose remain the same? Does the existing strategy successfully serve this purpose? What changes or additions should you make to your existing strategy to appeal to a wider audience?
How do you communicate with your customers?
The correct representation of your brand and the communication of the product to your customers is of huge importance! This includes both the communication policy and the visual identity, i.e., the characteristic colors of the brand, the logo, and the fonts.
The way of communication should be so clear and targeted, so that your audience can immediately recognize your product among your competitors and distinguish its special features.
Why should your brand stand out?
A strong brand means a strong market presence. The more concrete your values and vision become; the more customers trust your brand.
A weak brand cannot stand out from the competition and attract people because it cannot successfully communicate its values and goals.
The different types of rebranding
Rebranding, as we have already mentioned, refers to the adaptation of a brand’s strategy which may include the redesign of the visual identity, the communication policy, and even the name.
The path of rebranding is different for every company because it is influenced by the needs of each case. There are different types of rebranding that, either individually or in combination, lead the process of repositioning the brand in the market.
What are the most common types of rebranding?
1. Change of business name
One of the most common reasons for a rebranding is to change the name of a business. This can involve renaming the whole business, a part of it or its product.
Usually, a business changes its name to be more easily recognizable by its customers or to distinguish it from other competitor names. One of the most well-known rebranding involving a name change is the renaming of Facebook to Meta.
In the case of renaming, the corresponding changes must be made in both printed and digital material: business cards, brochures, social media and campaigns or advertisements.
2. Change Visual Identity
It can be combined with the name change or work with the existing name. Changing the visual identity includes redesigning the logo, creating a new color palette, choosing a new font, and possibly creating extra graphic elements that complete the visual identity.
Some brands use a specific color, which is also their characteristic signature (such as Dell), while other brands have more than one color in their palette (such as Google).
The change of visual identity can also concern specific products without a general rebranding, e.g., a slight variation in the colors that mark different products of the same company.
3. Marketing strategy readjustment
Another type of rebranding is the redesign of the marketing strategy. This concerns the improvement or change of the communication policy to promote a new product or to improve the relationship of the brand with the customers.
Marketing rebranding can be done in conjunction with changing the visual identity, creating a completely renewed brand.
4. How to start the rebranding process
Suppose your business is ready for rebranding. It’s time to organize the process because don’t forget: Rebranding is a matter of strategy!
5. Don’t miss the list!
First, analyze each part of your business: your name and brand, the products, or services you offer, and your location. Gather all available information and try to answer the following questions:
- What are your steadfast principles?
- What does your brand promise to your audience?
- What is the target group looking for in your brand?
- How will you stand out from the competition?
- How did your business get started in the market?
Write down keywords or phrases related to your business and think about what your main feature is that sets you apart from the competition.
6. Make your own Strategy Map.
A helpful tip for “visual” types is to design a map. This way you can visualize your goals and better understand what you need from rebranding. Essentially, the map is a picture of the above questions and will help you better organize the rebranding process.
What are the steps for a successful rebranding strategy?
Have you answered the questions about your new goals and vision and are you ready to start the process of rebranding? Let’s see what you will need to proceed with a perfect rebranding.
About the new logo
The logo itself is not a rebranding, but it is a very strong start! Your logo should appeal to your audience and help them connect emotionally with your brand. This means that the logo must reflect the values of your business. Visual communication is the first contact the target group will have with your brand, so it should evoke positive emotions.
In addition, a successful logo must be memorable. In a consumer world with a multitude of businesses competing with you, your logo must be clearly imprinted in the minds of your customers so that they remember you even after completing a purchase or partnership.
Creating a website that will reflect your brand guidelines is also an integral part of rebranding. The aesthetics of your new site should reflect your corporate identity. Make sure the colors, fonts and other design elements match the logo and overall style of your brand.
Your brand guidelines are the be-all and end-all of planning a successful rebranding strategy. Through the analysis of the basic principles of your business, guidelines emerge which define exactly the way in which your brand and your services or products are presented in printed or electronic form. Brand guidelines are essentially the “gospel” of your corporate identity.
Plan a successful rebranding strategy with NUS Solutions
At NUS Solutions we speak the language of marketing! If you want to substantially renew your brand and redefine your position in the market, the marketing team will guide you step by step to plan a successful rebranding strategy and take off your sales!
Together we will analyze your new goals, define your new corporate identity, and offer comprehensive solutions for your new brand, creating a stronger, more stable relationship with your audience. Make your vision a reality with NUS Solutions!