Many business owners come to a stage when they want to make a change regarding their business organization and they start thinking about rebranding. It may happen if they are merging with another company, if they want to market their products or services internationally, if they want to market to a new demographic, or if they simply feel the need for changing their company name or logo. Sometimes, a bad reputation is what makes business owners rebrand, but there are plenty more reasons why they would consider indulging in such an endeavor.
Rebranding can be quite a challenging and daunting project, but it can also be very effective and provide one’s business with excellent benefits. If you are thinking about rebranding, you should do it with your ultimate brand value in the forefront of your mind. You must make sure you maintain that value in order to eliminate any risk of hurting your customer base and, thus, losing your revenue.
Whatever your reason for rebranding is, you need to explore your brand value first, so that you can know how to successfully breathe new life into your brand. It will certainly help you define your brand and reposition its image in an effective way, so take a look at what that actually means for you and your business.
What Is Your Brand Value?
You need to know exactly what the value of your brand is, unless you want to lead your rebranding project towards failure. If you don’t know the core value of your brand, you won’t be able to tell the right story of your business and communicate the right messages to your customers.
Therefore, make sure you clearly define your brand value and understand what problems your brand will try and solve, so that you can manage to reap the rewards of your rebranding and successfully grow your business.
Consistency Is Key
Rebranding goes hand in hand with change, obviously, but whatever change you implement, you need to make sure you remain consistent. Consistency is key for maintaining your brand value, so you need to align your new brand image with the new message you want to convey.
Each and every one of your marketing activities should paint the bigger picture of your business organization, so all of the efforts you invest in need to be a perfect representation of your new brand presence. For instance, if you change your company’s name and fail to change your logo, it will show an image of a disorganized company. Everything you use to showcase your brand, from your logo and your social media channels to your business cards, needs to be consistent with your core brand values.
You Must Remain Authentic
Authenticity is very important when rebranding, because it can help you resonate with your loyal customers, whom you cannot afford to lose. You need to make sure you do your core brand values justice and stay true to them, no matter what changes you choose to embrace. You must think about your customers and their experience of your brand, so sticking to your basics is absolutely important.
For instance, when it comes to changing your logo, make sure you choose the right colors, since they influence people’s emotions. Explore the psychology of design a bit, so that you can design a perfect logo that will mirror the ultimate value of your brand and ensure it stays authentic.
Rebranding is quite a serious matter, since it can make or break your business, so you need to be sure it is something your company really needs, not to mention that you must make sure you do it properly, so that your company can eventually grow and truly benefit from it.
Sam Makad is a business consultant. He helps small & medium enterprises to grow their businesses and Overall ROI. You can follow Sam on Twitter.