Successful rebranding is one of the most difficult marketing strategies a company can accomplish.
Sometimes it’s hard to understand how to execute a rebranding strategy or even when it’s necessary. Derrick Daye asked the Branding Strategy Insider team to share their tips for successful rebranding.
Rebrands Offer Opportunity
In many cases, the focus of a rebranding strategy is strictly external; businesses are looking to make a bigger impact among customers, prospects, and partners. However, rebranding provides significant internal opportunities as well. It generates excitement and interest among employees, allowing a company to reevaluate its own culture and processes. For a branding change to be truly effective, it needs to go beyond the surface and start from within the company itself.
Rebranding is Not Repositioning
Repositioning is a strategy that includes the same product and services, but with a slight upgrade such as a new logo or packaging. Rebranding, on the other hand, offers completely new marketing solutions that don’t align with your past brand identity. Rebranding usually becomes a necessary strategy when a company’s products and services are approaching a territory that no longer resonates with its current brand message.
Rebrands are Radical
A true rebrand marks the end of the brand as it was, so it should only be done when you’re ready to disassociate your company from its previous brand reputation. For a successful relaunch, your company needs to be “all-in.” You’ll also need to be able to explain to your audience why you’ve changed, who you are now, and what it means for your customers.