Rebranding can be a dangerous process. This is because you run the risk of alienating your existing customers once you launch a new image. It is, however, also essential for moving your brand into the future, competing with rivals, and connecting with other customers. If you believe your company needs a new image, read the five rules to follow when rebranding your business.
1:- Find Out What Makes Your Brand Relatable
Consumers often turn to brands that complement their lifestyle. If you want a rebrand to be a success, you must find out what makes it resonate with your audience. Burberry is a prime example of a successful rebrand. The brand was originally associated with luxury and high-end style that connected with its wealthy customers; their products later became associated with gang culture.
Very aware they needed to change their image to attract their desired customer, the brand added new collections, such as trench coats and swimwear, which were endorsed by aspirational celebrities who reflected the desired lifestyle, such as Emma Watson and Kate Moss. As a result, it is once again one of the biggest luxury brands in the world.
2:- Never Compromise on Your Brand Equity
Would you buy Coca-Cola without the font? Or Nike without the Swoosh design? Probably not. That is because they are what make the brands stand out to customers. You must identify what your customers like about your logo and keep it. For example, you may want to retain your brand’s colors, font, or unique design. Don’t make the same mistake as Tropicana who comprised both their brand equity and trust when they changed their packaging colors – only to return to their old design weeks later.
3:- Only Fix the Areas that Are Broke
It is important to review your brand entirely before you make any rash decisions. The fact is that you could have a great logo already, but other areas of the business might be letting your brand down. For example, many companies have a great brand but a poor website. You should, therefore, turn to the professionals, such as Eventige, who can help you create an attractive yet functional web design using custom templates and themes, or from scratch.
4:- Change Your Target Audience
When rebranding the business, consider if you would enjoy greater success by broadening your audience. Old Spice is a perfect example. In 2010, the fragrance company realized that 60% of male body washes were purchased by women for their partners. Instead of rebranding the business to attract more male customers, they rebranded to target their products to capture the attention of a female audience by launching “The Man Your Man Can Smell Like” campaign. Their plan worked as the company generated 200% sales and subscribers in comparison to the previous year.
5:- Streamline Your Brand and Services
Is your brand looking a little cluttered? Streamlining could be imperative when rebranding. Don’t confuse your customers by offering too many names for too many services and aim to simplify your business to avoid confusing your target market. Streamlining can ultimately help you create a simplified brand that connects with consumers. Take this opportunity to simplify your brand name, logo, and identity to reach a wider audience and generate more sales.