What is a Rebranding and how to do one for your company

 here are many reasons why a company might consider rebranding, most of which have to do with the need to reposition the company in the marketplace. In this post we tell you what a Rebranding is and how to make one for your company. Do not miss it!

It could be as simple as a merger of two companies or as complex as a major change in target customers or business strategy. But whatever the reason, a company is finally faced with the question of how to rebrand (or rebrand) in a way that produces the desired business result.

What is Rebranding?

The Rebranding is the process of changing the image of a company or product . The objective is to make the new image more attractive to consumers, it is a marketing strategy that involves changing the logo, name, symbols and everything that has to do with the image of the brand to publicize the new identity of the business.

The brand of a company or product is what gives it its appearance. Therefore, when we change brands, we want to give the company or product a new look.

Companies that decide to go through the rebranding process typically look for:

1. Create a new identity that makes them stand out in the market among their competitors.
2. Reconnect with customers.

After extensive market research, including target customers and data analysis, you've noticed something surprising: Your customers (or competitors) are not who you thought they were.

Maybe it's a demographic you never thought you'd engage with. Alternatively, perhaps there is a new competitor in the market and their products or services are in direct competition with yours.

Take a look at your buyers. Comparing this to your initial audience and target market could reveal important data.

Once you've established your actual market and audience, you're ready to start changing your business name and connecting with your customers (and outsmarting your competitors).

It starts with the business reason

Any rebranding strategy must start with a deep understanding of the business rationale behind rebranding. Ask yourself the following questions:

• Are you driven by the need to accelerate growth ?
• Does your business need to compete with larger, more established competitors ?

Some of these business cases are very easy to carry out, such as the merger of two companies. Others are more subtle, like growing and enhancing the image. 

If you are not clear about the business reason behind your effort, you run the risk of wasting an enormous amount of resources.

Other reasons why you could rethink Rebranding are:

• You need to compete at a higher level or in a new market.
• Your brand no longer reflects who you are.
• Your company spun off an existing brand.
• You have a legal reason that forces you to change.
• You need to simplify and focus the message.
• You have a new marketing team.
• You are launching a new line of service.

Redefine the vision, mission and values ​​of your company

What are you doing? How do you do it? Why do you do it?

When evaluating your vision, mission and values ​​during a rebranding, these are the three questions you should ask yourself. Here are some important components of your business that you will want to analyze to decide which parts of the business need change or improvement.

VISION

The vision acts as a guide for every action a company undertakes, so it is essential that you understand your vision before moving forward; Also, perhaps over time, your vision has changed.

It is important that when you define your vision, if you do it as quickly as possible, make sure that all employees make decisions with that vision in mind. When rebranding, the vision of the company affects everything from the website redesign to the hiring process.

MISSION

If the vision means the "what is" of the company, the mission is your "how is". You may keep going in the same direction, but the way you are arriving changes. The mission is the company's roadmap.

When the mission changes, the message must also change, which is just as crucial as the vision in Rebranding.

VALUES

Your values ​​act as the why behind your brand. They are the reason you are working to achieve your vision and the reason you are dedicated to your mission.

But, as brands expand and change, some of their core values ​​may become unsustainable. If you cannot support your old values ​​or have come to prioritize new ones, you will need to update them to reflect what your company truly values ​​today.

BRAND VOICE

As your vision, mission and values ​​change during Rebranding, the way you convey these aspects of the company will also have to change. 

The vocabulary, tone, and voice you use for your brand should match the message. So if what you are saying is changing, the way you say it will have to change as well.

Know your target customers

When you have a clear business case for Rebranding , the next step will be to cIf you are changing your business name as part of Rebranding, make sure you have a recovery plan as part of your strategy.

Ultimately, if your name still fits, your best action strategy would be to stick with it. To help make that dashboard a little less daunting, here are some initial ideas for the renaming process:

• Make a new word
• Use an old word in different ways
• Say what you do (literally)
• Modify the spelling of a word
• Add a prefix or suffix
• Use other languages
• Put two words together
• Create an acronym
• Use a location

If you're revising your name while rebranding, focus on alignment with your vision, mission, and values , rather than what sounds good.

This way, the new name will have a better chance of supporting your growth and long-term goals.

Develop your brand identity

conduct an independent investigation of your company and its customers.

If you are trying to enter a new market, that research should also include your new target customers. The goal is to have an objective understanding of the perception and competencies of the current brand.

Change your company name

This is the part of the Rebranding strategy in which you develop the visual elements that will communicate your brand. Think about the company name, logo, tagline, colors, business card design, and the like.

These elements are often outlined in a branding style guidelines document, which provides a set of parameters to ensure branding is consistently implemented in all marketing materials.

Many people confuse these elements with the brand. A brand is reputation and its visibility, not the company name or its logo. Brand identity is a kind of visual shorthand for the brand.

Consider the following points before rebranding moves to a more practical implementation, to ensure that all decisions reflect the brand identity you are looking for, and not just based on what you see:

• What story do I want my brand to tell?
• Who is my audience?
• What is the long-term goal of my brand?
• How adaptable and future-proof is my design?
• How am I different from my competitors?

This last point about rebranding to create a truly unique brand is crucial: embarking on Rebranding is an incredible opportunity to stand out in increasingly crowded markets and attract the attention of customers and consumers.

If you are looking to do a logo redesign, don't forget that it meets the following requirements:

• It should be simple: Jamming as much symbolism as possible into a logo usually doesn't work very well. But that's a harsh truth for young companies that are still trying to prove themselves. Show confidence with a simple logo.
• Make an impact: Your logo won't be worth much if people can't remember it, so when you're redesigning your logo, don't settle for something that doesn't stand out.
• Make it adaptable: One thing you may have learned with your first logo is the limitations. Now that you know what shapes or styles might not be as versatile for the channels your business actually uses, keep them in mind during your redesign.
• Look Long Term : As fun as rebranding may sound, you don't want to do this every year, so really take a look at your vision, mission, values, and purpose and consider whether this new logo can support them in the long run.
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Work your online presence

Your website is the most important business development and communication tool . It's the place where you can tell a compelling story to each of your audiences, the first place a potential customer or employee will go to get more information about your company.

It is no exaggeration to say that a website and its online presence are the heart of a modern business.

It is a common Rebranding mistake to assume that a logo or name is the main element of the brand and not to update all relevant aspects accordingly. Don't forget to implement crucial changes in places that are often neglected:

1. Update the web links
2. Review web page metadata as needed, for example page titles, page descriptions, and image tags.
3. Send updated logos, descriptions and taglines to affiliate partners who link or mention your site.
4. Update SEO terms and keywords when necessary and in accordance with branding strategy.
5. Update listings in search directories

In addition to the website, you will also need to update other digital assets owned by the company, including:

1. Social media pages
2. Ratings and reviews online
3. References and backlinks
4. Directory listings
5. Email
6. Pay-per-click ads (banners and search)

The amount of time and resources you need to devote to building a website and updating your digital assets depends entirely on the scope of your rebranding strategy.

Businesses that execute successful rebranding strategies always have a checklist that covers all of their digital assets, who will update each one, and the date each will be updated.

Promote a brand building plan

The final element of the Rebranding strategy is to develop a plan to promote and strengthen the new brand. How will you launch it internally? In professional services, it is critical that employees embrace the new brand.

A good way to do this is to add a blog post or news story that explains the change . Another is intermittently sharing social media posts to remind customers of the new brand for the first few months.

Why Rebranding?

There are a few other important reasons to consider rebranding, including:

• New locations: You may need to update your brand if you are expanding into international markets that will not be identified with your current logo, messages, etc.
• Market repositioning : Brands are designed to connect companies with their customers, so if you reposition your business to target a completely new customer profile, whether through product, place, price, or promotion, your brand should Follow the example.
• New Philosophy: The mission, vision and values ​​of the company should govern all the decisions you make, including brand decisions.
• Mergers and Acquisitions: When two companies join together, two brands join as well. If the company was acquired or joined by another company, you can't let both brands clash. Finding a new brand that reflects the new entity will avoid confusion and build trust.

Examples of Rebranding

Airbnb

Airbnb started out as an app to help travelers on a budget find an affordable alternative: someone's guest room.

The app and the service took off fairly quickly, and travelers began to have the ability to rent a beachfront apartment or a house in the country. The Airbnb phenomenon and how it grew from a simple idea to a great company inspired a book called "The Airbnb Story."

Airbnb's Rebranding in 2014 was a great undertaking and is one of the most memorable in recent years. The process was long, fun and very interesting.

The new logo even has a new symbol, which the designers call  Bélo , which contains four meanings in its shape, People, Places, Love, and Airbnb.

Domino's

Domino's suffered a major loss in 2009 when it had only a 9 percent share of the pizza market.

The company changed all that with a successful rebrand. And he focused on correcting what customers didn't like about his products.

The result? In 2016, the company had a 15 percent market share and achieved the highest customer loyalty among pizza chains.

It was also one of the first companies to use chatbots to receive orders through social networks and to meet customers, where and how they spend their time.

Do you want to learn all the marketing techniques to apply to a business and its image? Do not miss TO VISIT