Rebranding your business is a complicated process, but it’s made much easier if you approach it in an organized manner. There are five steps to rebranding a business.
Step 1 – Clarify Your Reasons for Rebranding
There are many different goals a company could have in rebranding. Some companies rebrand because they’re losing market share or losing their customers to competitors. Some feel that it’s just time for a brush-up, or that their current brand doesn’t accurately reflect their actual business practices. Others rebrand to reach new demographics or to reflect a shift in the products and services they offer.
Start by clarifying the goal or reason for the rebrand. This will guide all of the other major decisions.
Step 2 – Take Stock
You’re going to change your brand and change your position in the market, so the second step is to take stock of the current situation. This includes:
- Considering your current brand, what’s wrong with it, and why it’s no longer relevant to you
- Gathering information about the market, including current trends, the tastes of the market, changes in the market, and the activities of your competitors
- Feedback from your audience and data on your customers that you can use to create the right brand for them
- An assessment of your company from top to bottom, which includes business goals, internal operations, vision, values, and so on.
All of this investigation should be based on objective data and not merely your assumptions, especially data about the market and your customers.
Step 3 – Plan for the Big Change
At this stage, you know the current situation of your business and you have a clear idea of what your new brand should be. From here, start making this change happen. It all starts with a good plan.
Starting with the overall goal for the new brand, work your way backwards and identify everything that needs to be done. Also identify what tools, budget, or help you’ll need along the way. For example, you might need a graphic designer to help with the new brand’s visuals.
Break what needs to be done into milestones and then items that can be put on a “to do” list. Now, create a timeline for accomplishing each, and give yourself plenty of leeway.
Step 4 – Make the Change
If you’ve set it all up properly, this step is just a matter of working through your “to do” calendar. You may hit snags along the way that you have to deal with, but overall it should go smoothly.
This is the “work” part, but it’s also the most exciting part. The launch of your new brand is drawing near and you’re working your way toward it.
Step 5 – Launch
Finally, you launch your new brand and then monitor your audience’s reaction to see whether you’ve accomplished what you wanted to in the beginning.
These steps make it seem simple, but there are many moving parts and other things to prepare along the way.