It’s not about a new logo; it’s about connecting what your brand stands for to your consumers and how they experience it.
A rebrand doesn’t focus on what a company offers but instead what your target audiences both current and prospective customers, who actually own your brand, expect, feel, and want.
How can you tell that it may be time for a rebrand?
- If you find yourself frequently spending time explaining what exactly your brand does
- If you can’t differentiate your brand in a crowded market
- If your brand is losing appeal to your target audience and doesn’t have the ability to attract new audiences
- If you don’t have a plan to consistently evolve your brand to reach new audiences and expand your brand’s exposure
Here are five important reasons to consider when evaluating your current brand and the equity it has in the marketplace.
- Your Competition
As audience perceptions and attitudes shift along with the economic climate, your brand must evolve too. It must remain fresh and top of mind to your consumer. It must be the answer to your audiences wants and needs. Your brand is your public face, the persona of your organization, and if your target audience cannot connect with your brand then they will look to connect with another brand, your competition.
A well-planned and well-executed rebrand reflects current market conditions and attitudes. It will help your brand rise above other brands in your category and give your audiences a reason to connect with your brand’s story.
By unifying your brand’s story with the expectations of your audience, you can respond more effectively and efficiently to their needs and wants. It will also be easier for your target audience to recognize what your offer and, more importantly to today’s consumer, what your brand stands for.
Rebranding can bring clarity, both internally and externally, in the marketplace and through every communication channel. With clarity comes an opportunity for a fresh perspective, new attention and a chance to boost recognition of your brand.
A rebrand becomes the public expression of evolution and a bold statement about growth, progress, and the opportunity to constantly staying relevant.
- Long-Term Expansion
When a business and its products prosper, it needs revitalization to reflect the larger, more sophisticated business it has become. It must also take into consideration how sophisticated its target audience has become. Without progress, it must likely will be overcome by more advanced competitors.
A rebrand requires a thoughtful review (audit) of key messages. It means an update of its positioning statement and unique value proposition to integrate new insight into audiences and markets and what they expect or should expect from your brand. A strong messaging hierarchy will redefine how your brand is perceived and what connects it to your core audience.
Rebranding is also a great time to step back and consider both market and product line expansion. How does a hierarchy of divisions or product brands support a parent brand? Build in flexibility for growth. Consider and incorporate new communication channels and new technology as appropriate. .
A brand must reflect its innovation and connection to its consumers. New and traditional brands must incorporate shifts in technology that affect your business. What changes have you seen in how you communicate, sell, and how your target audiences connect?
A rebrand must embrace the shifting priorities in new media, the opportunities to create an online brand persona, and the ways in which the public face is built to be relevant, accessible, and engaging and responsive on mobile, desktop, and in social media.
When your brand does not connect with your audience nor reflects the level your business has achieved, and/or doesn’t appear in the channels your audiences use, people will assume you have fallen behind the times and they will forget about you. In return, your competition will outperform you in visibility and reputation to take your market share.
A rebrand is an opportunity to refresh whom your organization is, how your consumers connect with it, and what is possible for your brand as it evolves.
Employees are captivated by the enthusiasm and momentum of change. They are most enthusiastic by inclusion in the change. With new, focused messaging and the opportunity to grow the brand, the impact is exponential.
Your consumers own your brand but it lives with your people. The experiences your audiences have with your organization and employees helps build the brand and create brand ambassadors. These ambassadors are more than willing to share the brand’s story when their experience with the brand is a positive one.
Employees are more than thrilled to share an updated or new website and drive the rebranded vehicle for the company as long as management has connected with them on the company’s vision for the future. In other words, where the brand is going and how it affects not only the company but the audience who experiences the brand.
Ready to talk to Calibrate Brands about a rebrand or refresh? Our experts are happy to explain to you how a rebrand or refresh will benefit your business.