The Expert Guide to Rebranding

So, you’ve decided it may be time to invest in a rebrand. Before you proceed, you should understand a rebranding effort is a major undertaking. You’ll spend many hours researching, planning, and creating many different ideas and strategies with your team — hours that are well worth it if the timing is right.

If you want the greatest return on your investment, ask yourself the following five questions. If you can say “yes” to any of them, it may be time to consider rebranding.

Am I offering new products or services to my customers?

Perhaps you’ve added to your product line or introduced a new service to meet your clients’ needs. If your company is growing and expanding to meet market demands, it may signal it’s time to rebrand to stay relevant.

Adding a new product or service may also mean it’s time to consider creating a sub-brand, or a brand within your parent brand. A great example of how this is accomplished comes from Google and its sub-brands. While this company provides a multitude of products and services like Google Hangouts Meet and Google Analytics, each product is specifically branded to communicate its individual offerings. These sub-brands are still consistent with Google’s overall identity while still providing differentiation.

Has my mission changed?

If you’ve changed how you do business, your brand image needs to change as well. A misaligned brand will place you in the wrong position in the marketplace, negatively impacting your bottom line.

For example, LifeTrac was moving the company’s brand focus from being an organ transplant network to an organization that provides organ-specific solutions. After rebranding and creating an identity that reflected this business change, LifeTrac saw a 59% increase in revenue from the prior year.

Has my customer changed?

Markets evolve and needs change, and if your customers are no longer the ones you served when you began, you need to update your brand to reflect these changes and reach your new customer.

When rebranding because of a change in your loyal customer base, one of the first steps to take is to create an updated buyer persona. This detailed document will reveal your new ideal customer, including what their likes and dislikes are, their purchasing habits, and how they would like to be communicated with. With this information, you can tailor your brand’s identity, messaging, and content for your specific customer.

Am I losing to the competition?

In the early ’90s, Target was just another superstore in a sea of similar (and better performing) corporations, like Walmart and K-Mart. To gain a competitive advantage, Target began transforming its brand in the early 2000s and is now one of the top choices to shop for many Americans. Along with a logo update in 2006, Target began remodeling its stores as shopping destinations, developing quality in-house product lines, and offering exclusive brands like Hearth & Hand™ by the home and lifestyle powerhouse duo Chip and Joanna Gaines.

Reviewing the competitive landscape provides insights into what’s working in the industry. While you shouldn’t copy what others are doing, it will guide your brand on how you should position yourself among others. It will also highlight areas of opportunities you can take advantage of. Like Target, investing in a rebrand at the right time can put your business at a competitive advantage and can provide a tremendous return on investment.

Are my products and services confusing?

Before rebranding, Janus International had information that used stock images and failed to differentiate their product offerings. As a result, customers were confused and disinterested. Janus needed a better system — and a rebrand — to cater to their customers’ specific needs. After creating a new brand and system for marketing their products, Janus has improved their sales process and created a clearer, more consistent identity that consumers trust.

Performing a brand audit can reveal where inconsistencies may lie. The entire brand experience, from the first interaction to the final sale, should convey the same brand and messages across the board. If there is any disconnect between touchpoints, customers will become confused and lose trust. Ensuring you have a consistent brand will ensure you have a consistent and loyal customer.

If you can say “yes” to any of the above questions, a rebrand may be the answer. If you feel overwhelmed at the thought of taking on a project of this size, enlisting the help of a branding agency like id8 can help you manage the entire rebranding process, from research to implementation. Rest assured, the amount of time and resources you put into a rebranding project will not go to waste and will yield great results for years to come.