When was the last time you refreshed your brand’s image? If it’s been a while, now might be the time for a rebrand.
Rebranding involves refreshing your brand’s identity to connect with your audience. Keeping up with the changing times helps your brand stay relevant.
Reasons for rebranding
Rebranding requires clearly understanding your business objectives, market positioning, and audience perceptions. Knowing when and how to refresh your brand’s image helps maintain its competitive edge.
The following are common reasons for rebranding:
- Changes in market trends due to industry evolution
- Shifts in audience preferences due to demographic changes
- Negative public perception because of reputational impact
- Declining sales and stagnant growth require renewed interest in the offerings
- New company identity and values due to mergers and acquisitions
Steps to craft your rebranding strategy
Follow these guidelines to develop your rebranding strategy:
- Conduct a brand audit. Include your brand assets, messaging, visual elements, and market positioning. Uncover areas where your brand excels and needs improvement.
- Clarify your rebranding goals and objectives. For instance, you might want to modernize your brand, expand into new markets, or differentiate from competitors.
- Research your audience. Use market research, surveys, and focus groups to analyze your audience’s preferences, perceptions, behaviors, needs, and aspirations. Understanding your audience helps your brand authentically resonate with them.
- Develop your brand identity. You might update your logo, refresh your visual identity, or enhance your brand messaging.
- Communicate the rebrand. Keep your stakeholders informed about the reasons for the rebrand, the changes implemented, and the benefits. Also, communicate the rebrand through your website, social media, press releases, and internal communications.
- Announce the rebrand. Share the rebrand on your website, social media pages, marketing materials, signage, and packaging.
- Monitor and measure success. Use key metrics such as brand awareness, customer sentiment, and business outcomes. Also, request stakeholder feedback to make relevant adjustments.
Ready to refresh your brand’s image?
Trust BARQAR to create a strong brand identity that will set you apart from the herd and help you become a market leader. Give our marketing experts a call today.
