How to Rebrand your Business: 9 Smart Steps

Rebranding your business can be done for many reasons. This could include updating your logo or designing new themes, or reinventing your business to better reflect its current products and situation.

Rebranding is not something to be taken lightly. A well-designed rebrand can connect a company with a new target market or keep your business in the forefront of customers' minds.

Bad branding can cost a company millions. For larger companies, it can also open up the business to online mocking and criticism, which can cause confusion among current and potential customers. These are the four lessons learned from similar business rebranding projects.

Do not go from bold and iconic to generic and boring

The design industry is just like every other sector of the world. There are always new trends and fads. Sometimes, updating a logo means replacing an outdated logo design in order to keep up with the current trend.

Sometimes, the rebranding process can result in a blander logo or design.

Gap's 2010 redesign is a prime example. Their iconic logo was a long-standing trademark. The Gap's redesign in 2010 is a prime example of this.

They were stylish and trendy, without going overboard. Instead of pursuing the minimalist theme that other brands presented, the redesign lost this theme and became a boring logo and font.

A full rebrand may not be necessary if your logo and/or theme are iconic in your industry and easily identifiable by customers. A rebrand might be the right thing if your logo is outdated, boring, or missing something.

Changing Up Your Target Market

Change is inevitable. Change happens. Target audiences change, industries grow, and brands must adapt to that. Rebranding is often about adapting to the tastes of their target market or targeting a new audience.

Old Spice is a great example. Old Spice wasn't a unique brand, and Pre-Terry Crews shouted at us to buy it. It was just a deodorant, and it wasn't unique.

Their loud, youthful advertisements became viral. Old Spice clearly targeted a younger audience with new designs and new products.

They chose a new market and decided to keep the logo unchanged. They were more than an advertising campaign. It influenced the entire brand. They rebranded to appeal to a particular group of people, rather than trying to reach everyone.

If your target market has changed dramatically or your efforts aren't achieving the desired results, a rebrand may be required.

This is why it's important to research your target market before you rebrand. This could mean updating your website's copy and finding a new tone or voice for your marketing materials.

As a publicity stunt, don't mess with it

Your brand is very valuable and should not be altered. Do not alter your brand, even if it has been established for many years.

IHOP recently rebranded to IHOb to promote its new line of burgers. We don't know what the long-term effects of these decisions will be, and it's uncertain if the name will remain, but that uncertainty is what's hurting their brand.

People desire brands that are stable. The uncertainty caused by the name change may affect their food and dining experiences. People don't have a problem eating burgers, many places serve lunch options, but it's the bizarre decision they made to promote them.

This decision will likely affect their brand for many years, even if the name and logo of IHOP are changed.

Brand changes must be long-lasting and should feel stable and permanent. While it might be easy to grab attention with a brand, it can lead to long-lasting, devastating consequences.

Timing is crucial

During busy seasons, don't forget to maintain your branding. Uncertainty can drive customers away, and you don’t want to try new things when you’re supposed to make the most.

Make brand-related changes slowly instead. This includes redesigning your website and logo revisions. Consumers will have the opportunity to adapt and accept these changes before the next busy season. With the rebrand you can target a new audience. When the busy season arrives, your brand and company will hopefully have a new audience.

You shouldn't rush to rebrand your business. Before you decide to rebrand your business, explore other marketing options. Research, focus group discussions, and a thorough review of your options will help you ensure that your rebranding efforts are moving in the right direction. It will be a great success if you take your time.

9 Smart Steps to Rebrand Your Business

Your business' rebranding is like any other marketing activity: A solid strategy, a step by step approach, and the willingness to experiment with what works best will win over The Big Idea every time.

Here are 9 steps to smartly rebrand your company.

Define your brand identity: Before you rebrand, it is important to understand your brand's current identity as well as what you want it be in the future. Think about your company's mission and values.
Market research: Find out what your target audience and competitors want from you. Consider their buying preferences and pain points.
Create a rebranding strategy. Based on your research, create a strategy that defines your rebranding goals and targets.
A new visual identity is created. This includes a logo, color scheme and typography that are consistent with your brand and appeal to your target audience.
Make sure to update your website. Your website is often the first contact point for potential customers. It should reflect your brand identity and messaging.
Communicate the rebranding process to all your stakeholders. Keep customers, employees, and partners updated about the rebranding process.
The rebranding process: Use the new branding and messaging in all your marketing materials. This includes packaging and advertising.
Monitor and measure the results. Keep track of the impact the rebrand has on your business. You should look at metrics such as website traffic, social media engagement and sales.
Continuous improvement: Rebranding is a continuous process. Continuously monitor the progress of your rebranding efforts and make any necessary adjustments.

Although it can seem daunting, rebranding your business is an essential step to growing your business. These 9 steps will help you create a rebranding plan that is consistent with your company's values, mission, and target audience. This will ultimately lead to business growth.

Marketing Insider Group's post How to Rebrand Your Business: 9 Smart Steps originally appeared on Marketing Insider Group.

Frequently Asked Questions

How much should I budget for my initial digital marketing campaign?

It all depends upon the type of campaign that you intend to launch. It can cost between $50-$100 to launch your first campaign.

Advertising space can be purchased on search engines such Google and Bing. These ads cost approximately $10 per click.

Banner ads can be placed anywhere on your website that you own. This will attract new visitors to your site and help them return.

You may also be able to hire a freelancer who will design your banners. Freelancers are typically paid between $20 and $30 an hour.

After creating your first ad for the site, you can track its performance. You can find many free analytics software on the internet.

It is also possible to track data manually. To collect information about your campaigns, you can keep a spreadsheet where you record each metric (such as clicks, impressions, etc.)

Once you have collected this data, it is possible to determine if your campaign has been successful.

You can always try other methods until you find the one that works.

What are the 4 types of marketing?

Marketing can be divided into four types: Direct Mail, Traditional Advertising, Public Relations, Digital Marketing, and Public Relations. Each category has its own objectives and should be used only for their intended purpose. You can then combine them to accomplish your goals.

What eCommerce Marketing Strategy Do I Need to Follow?

There are three main types eCommerce marketing:

Direct marketing
Search Engine Optimization (“SEO”)
Social Media Marketing

Direct marketing refers to sending emails directly towards potential buyers. These emails could contain discounts, coupons, and other special offers. This marketing strategy aims to build customer loyalty.

Search engine optimization is the process of improving your website's ranking in search engines such as Google, Yahoo!, and Bing. More people will find your site if it appears near the top when they search for keywords that are related to your product or services.

Social media marketing is done using websites like Twitter, Facebook and Pinterest. To connect with your audience. It's free, easy to set up, and effective.

Each of these options has its pros, and cons. SEO, for example, requires time and effort while direct marketing is more efficient. But if you concentrate on just one type of marketing, you will not reap the full benefits from eCommerce marketing. We recommend combining multiple types of marketing.

To promote your products, you can send emails and get high rankings in search engine results. You could also advertise on social media, and then link back to your website from these pages.

As you can see, there are many ways to market your eCommerce store. Make sure you choose the right work for your business and stick with them. Good luck!

What makes it so important to identify your brand?

Your company's brand is nothing more than a promise you make to your customers. Your brand is a promise that your company will deliver certain benefits and qualities that will make you stand out from the rest. Your brand is what sets you apart from other companies in the industry.

A brand gives you credibility and authority. Potential customers instantly recognize your company's logo when they see it. They trust you because you've earned their respect.

Your brand is also an expression of your company's culture. If your employees are passionately involved in your brand, then it is probably reflective of your passion for the product or service.

Your brand is more that words and photos. It's a promise that your company lives up to. It's a promise to provide value to your customers.

You need to take into account several things when you are attempting to build your brand. First, you need to choose a name which clearly describes the company's mission. Sweet Dreams Bakery is a good example of a bakery name. But if you're running a software company, you'd probably go with something like DreamSpark Software.

Next, you'll want to decide how your brand will be represented. Will your logo be easily identifiable? Do you choose colors that are consistent with your corporate style? Are you going to use logos?

Finally, you'll want to consider how your target audience perceives your brand. Can you project a friendly and helpful image? Do you project professionalism and trustworthiness? Are you able to communicate your knowledge and experience?

These are all questions you need to answer before building your brand.

Is there any risk associated with digital marketing

Yes, digital advertising is fraught with dangers.

First, be careful what you post on social media.

You must also ensure that your content is original and doesn't infringe upon any other intellectual property rights.

You also risk losing control over your brand image if your online presence is not monitored closely.

Last but not least, identity theft may occur if someone uses your personal details without you being present.

How to protect your online reputation

Take care of what you say on social media
Ensure that All Content Is Original, and Doesn't Infringe upon Any Other Intellectual Property Rights
Monitor Your Brand Image
Use strong passwords
Don't share personal details without authorisation
Report Unauthorized Activities Immediately
Don't Post Photos Of Yourself Or Others In A Disturbing Way
Never divulge your Social Security Number
Stay up-to-date with the most recent news
Avoid Scams
Secure Password
Always Check For Updates
Don't share too much information
Pay attention when you give out credit card numbers
Send money via EMail.
Beware of fake websites
Bad reviews can be a big problem for your business
Regularly Check Your Credit Reports
You Need to Keep an Eye on Your Privacy Settings
Ask someone you know before sharing anything

What are some examples for indirect marketing?

There are many indirect marketing strategies that you can use to promote and grow your business. One example is a social media campaign that encourages people to upload pictures of their products. This would help spread your brand's message.

You could advertise in the local paper if your auto shop is open. This would encourage people to take their cars to your shop instead of visiting other shops.

Sending coupons to customers' E-mail Inboxes and posting ads on bulletin board in public places are two other examples.

Indirect marketing works well because it doesn't cost much money.

Building trust takes time, so patience is a must when promoting your company.

Also, you need to monitor how effective your campaigns perform. You can also measure the number of leads each method generates.

This will give you an idea of the best methods for your business.

Statistics

This allows us to deliver CPCs that are 80% less than average and CTRs 4-5 times higher than average. (marketinginsidergroup.com)
In 2017, 34% of marketers cited co-branding as the most effective way to increase the number of email subscribers. (influencermarketinghub.com)
Today, 81% of brands around the world have affiliate programs. (influencermarketinghub.com)
From 2020 to 2022, eMarketer predicts that digital marketing will grow by 36% and take up 54% of marketing budgets! (marketinginsidergroup.com)
Companies that use personalization are seeing revenue increases ranging from 6-10%. (blog.hubspot.com)

External Links

How To

20 Advanced Affiliate Marketing Strategies to Try in 2022

Affiliate marketing can be a great way for you to make money online. It's also among the easiest methods to get started because you must sign up with an affiliate network like Commission Junction or ShareASale and then place links on your website or blog. When someone clicks on one of these links, you'll be paid a commission.

Here are 20 affiliate marketing strategies to try in 2022:

Create a Content Calendar
Google Adwords
Start Your Podcast
Join A Blogging Network
Get an Email Mailing List
Get Paid For Reviews
Be an Influencer
Offers Free Trials
Create a membership site
Amazon Sellers:
Write articles
Start a YouTube Channel
Host Events
Develop A Mobile App
Promote Your Business Online
Run Facebook Ads
Get started with Twitter
Increase Instagram followers
Be open with your customers
Earn More Money In The Long Term

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By: Michael Brenner
Title: How To Rebrand Your Business: 9 Smart Steps
Sourced From: marketinginsidergroup.com/strategy/4-lessons-to-remember-before-rebranding-your-business/
Published Date: Mon, 13 Feb 2023 15:00:00 +0000