Rebranding Your Business

It may be hard to accept the fact that your brand is outdated or that it just doesn’t connect with your audience any more, but your brand is key to the success of your business, so it may be time for a rebrand.

Why rebrand?

Has your industry or customer base changed? Has your product become dated or irrelevant? These are valid reasons to rebrand, but if you simply want to be more edgy or exciting, don’t do it.

Think Bigger Than Just Your Logo

Rebranding involves evaluating all the elements of your business that are tied to your brand, such as your pricing structure, equipment, office furnishings, marketing strategies, as well as the products or services you offer. You may have to change many elements of your business in order to resuscitate your brand.

Create a Detailed Plan

Draft a list of changes, then create an action plan and budget for executing each task. Recognise you may also lose some customers as a result of the rebrand.

Gain Employee Buy-In

Your staff will be key in selling changes to customers. Discuss with them the new mission and goals and include them by regularly requesting their feedback.

Create a Committee to Manage the Process

If you have a small staff, assign a couple of people with different perspectives to be responsible for overseeing the process.

Announce the Rebrand to Your Most Important Customers

Let your loyal customers be the first to hear that you are rebranding your business before you share your new brand with the rest of the world.

Don’t Skimp on PR

A PR firm will handle all of the work, ensuring maximum exposure for your new brand and its image, but can be expensive. Alternatively, do your own PR and announce your changes on social media and industry trade publications, and send out a press release.

Baby Steps

While you must have a total overhaul planned before you begin your rebrand, you don’t need to change everything all at once. Remember to set a reasonable timeframe to allow the complete transition to stay on track.

When did you last evaluate your brand?

Adapted from an article by Jaimy Ford, docstoc.com