Rebrand – Is it time for your business?

The only thing constant is change, and there’s a good chance a number of factors — anything from the economy to design trends to added services to a shift in your product line — have led you to see that original branding has become obsolete, and that it may be time for a rebrand.

If that’s true, you’re far from alone; it’s fairly common for companies to change direction when initial branding attempts fall short of what they wish to convey. And companies that undergo rebranding are often very successful; in a recent survey of U.S. companies across industries that have rebranded, 75 percent realized “some or moderate” improvements to sales, while 75 percent recognized moderate to significant boosts in visibility and product differentiation.

“(With strategy), organizations can alleviate much of the headache that surrounds this transition and create a lasting brand, complete with buy-in from internal and external stakeholders,” writes Kristi Knight in Entrepreneur. “When done right, a new brand can inject fresh energy and give an organization opportunities to have new conversations, communicate new value and reach broader audiences than before.”

What are some good reasons for launching a rebranding campaign?

• You’ve outgrown your original product line and/or range of services.
• Your initial brand image was unremarkable or just plain unsuccessful.
• Your initial brand image now has negative connotations, is confusing or costs you business.
• Your company name no longer represents what you do.
• Your name is too close to a competitor’s name.
• A Rebrand will give your company a much-needed fresh start.

Consider these suggestions when launching your campaign:

• Seek expert assistance. Choose an unbiased specialist who’s familiar with up-to-date trends and design elements and can objectively evaluate your brand’s strengths and weaknesses. Ensure the person fully understands your brand, key messages and target market.

• Set specific goals. Are you trying to re-energize current customers? Find brand-new audiences? Overcome a negative image?

• Decide on scope. Are you just changing your logo, or going for a complete overhaul incorporating a new name, identity, and advertising strategy?

• Consider what to keep. In the interest of continuity, you may wish to hold on to elements of your brand that are very recognizable to your audiences.

• Research competitors’ campaigns. In general, you’ll want to stand out from the crowd and make yourself memorable. Think bold, exciting and unconventional.

• Don’t be everything to everybody. Who are your most important audiences and what, exactly, makes you appeal to them?

• Don’t over-worry about being deep or symbolic. While some companies want each little element of their logo to represent something, it’s also OK to be straightforward and simple.

• Choose elements that can evolve.  Think ahead, seeking designs and concepts that won’t seem dated in a few years. Think evergreen.

• Test-drive your ideas. Because it can be costly, rebranding shouldn’t happen overnight. Allow time for the transition, and don’t hesitate to test-market new ideas. The responses may surprise you.

• Check off legal requirements. Avoid costly mistakes by hiring a trademark attorney to ensure your images, logos, domains and social media addresses of choice are legally available for the rebrand.

• Establish logistics. Create a game plan that details every step of your new plan. How can you change your website and social media accounts without losing your history or confusing visitors? Will you need new email addresses? Call center scripts? SEO strategy? The transition will likely call for specific task assignments, regular progress meetings and/or the designation of a project manager.

• Make your announcement momentous. Establish a start-to-finish communication plan for all stakeholders, aiming to generate curiosity and excitement while minimizing disappointment from those who dislike change. Focus on customer benefits.

• Keep staffers informed. Consider a launch event to discuss the rationale behind the changes and how to handle customer questions. Your employees will act as brand ambassadors if they feel they’re sharing a common goal and purpose. Write up FAQ sheets and consider incentives for those taking steps to embrace the change.

• Establish guidelines. Put together a company book defining all the new standards you’ve established — colors, fonts, styles, voice, etc.

• Keep marketing your changes. Building awareness of your new brand will be key after it’s launched.

In short, the more planning you can do when anticipating a rebranding, the smoother the process is bound to be. And never underestimate the importance of a well-conceived brand.

“When you think about your rebrand, think about all the elements: promise, personality, look, voice, service, attributes, memorability, even patina,” advises Lois Geller in Forbes. “There’s a good chance that if you ask customers, prospects and competitors about it, you’ll be surprised at how strong your brand actually is. It’s shorthand for what you are.”

Talk to Custom Toll Free about incorporating a strategic vanity phone number into your future rebrand campaigns.