As a business, your brand is the foundation of everything that you do. Branding encompasses more than your logo, tagline or colours – it also includes your brand’s personality, values and messaging.
Strategic branding is what allows you to position your business in the marketplace and what ultimately acquires and retains customers.
Your brand power directly affects your bottom line, which is why it is crucial that your branding accurately reflects your business.
How do you know when it’s time to rebrand?
Rebranding is done in a few different scenarios. The most common is when a company’s brand is not accurately portraying their values. Messaging and visuals may feel disjointed or confusing, creating challenges when it comes to effectively communicating the value of their products or services, resulting in low or plateauing revenue.
Another common scenario is when a company changes direction or adds new products or services. You may find that your old brand is not congruent with your new offerings – in this case, it’s very likely that you need an update.
There are several phases involved in the rebranding process.
The process of rebranding always starts by conducting extensive research. There are many factors to be considered, including market research, competitor research and compiling company data.
It’s important to determine your brand’s current position in the market and how that compares to your competitors. Getting clear on your unique selling point (USP) is one of the key components of creating effective branding. Differentiating yourself from your competitors provides potential customers with the validation they need to make a sale. Internal research will also be an important step in the research phase. Gathering data on what has driven sales historically and tracking customer sentiment will allow you to hone in on what elements need to be revised or incorporated into your rebrand.
The next step in the process will be to use the information gathered in the research phase to develop a brand strategy. Brand strategy includes several important elements, such as brand voice, brand identity, and brand positioning.
The main objective of developing a brand strategy is to clearly communicate your value proposition to your target demographic, as well as being able to differentiate yourself in a measurable way from your competitors.
The data gathered from your research will give you a clear idea of who your customer is, including their demographic, their consumer behaviours and their personal interests. This information will form the foundation of your brand strategy. By harnessing the power of this data, you will have a better understanding of what and how your company needs to be communicating in order to drive sales.
Next, we establish a visual identity for your business. Your visual identity, sometimes called brand design, unifies the visual elements of your business, including logos, colours, typography and brand imagery.
Having cohesive design elements presents a composed, seamless look that represents your brand’s personality and unique positioning. Your visual identity is what makes your business unique, recognizable and memorable.
Consumers make split-second decisions about companies based on the way they are represented, so it’s important that your brand identity is in line with the values you want to communicate and the personality you want to embody. Effective brand design is research-driven and communicates the right message to the right people.
Once your brand identity and strategy are finalized, it’s time to implement them. The implementation of your rebrand should be seamless, with the new branding being used across all touchpoints at the same time.
Implementation should be done for the website, all social media accounts, marketing materials and any other brand assets. Having mismatched branding can have a negative impact on user experience so it’s important to present a congruous appearance.
One of the key components of the rebranding process is having a rollout strategy in place to launch the updated branding. Once your new brand elements have been implemented, it’s time to share them with your customers and stakeholders. A rebrand is something to celebrate and presents a great marketing opportunity.
Your rollout strategy can consist of several tactics, such as internal awareness for employees and stakeholders, market awareness campaigns, and influencer outreach. Prepare a schedule, including the pre- and post-launch periods, to coordinate the timing of each aspect and ensure a smooth transition.
It doesn’t end here. It’s crucial to track the results of your rebrand – has it had a positive impact on sales? How has customer sentiment responded to the new branding? Establishing a feedback cycle allows you to make changes or tweaks where needed. Measuring the impact of rebranding creates an opportunity to further refine your strategy until it’s just right.
Overall, the process of rebranding your business involves a sequence that requires careful planning and execution. Most businesses rebrand approximately every 7-10 years. If it’s been years since your last rebrand, it’s time to assess if your branding is still effective. Nioma can help you achieve a seamless and successful rebrand. Book a consultation call with us to explore how we can help.