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What does rebranding your business entail?

4 June, 2023 · 5 min read·Business
What does rebranding your business entail?
Discover the ins and outs of rebranding your business with our latest blog post. Learn about what it takes and how it can bring fresh life to your brand.

Rebranding your business is an important decision that requires careful consideration and planning. It involves creating a new and improved image for your company to appeal to existing clients and enter new market segments. Rebranding also helps you stay relevant in a constantly evolving business environment. More than 70% of the top S&P companies have rebranded in their first seven years. 

When done well, rebranding can help companies reposition themselves and regain momentum. The stakes are high. But the payoff can be huge. Join us as we take a deep dive into the world of rebranding. Keep reading to discover how it can benefit your business.

What is rebranding?

Rebranding is the process of creating a new identity or refreshing an existing brand for a company or product. At its core, rebranding means changing aspects of your business that relate to your company's identity and reputation. It involves changing the name, logo, visual identity, messaging, and even the target audience. 

Why rebranding matters for your business

Rebranding can help a business increase brand awareness and attract new customers. Additionally, rebranding can help a business differentiate itself from competitors. It can help them stand out in a crowded market. It can also improve brand image and reputation. And this can lead to increased revenue and customer loyalty.

Rebranding is important because it can help a business stay current. It can help them adapt to market changes. Rebranding can take significant time and resources to complete. However, the benefits of rebranding can be significant for a business in the long run.

So take the time to carefully consider the reasons for rebranding. Consequently, your business can set itself up for success and reap the benefits of a well-executed rebrand.

Reasons to rebrand your business

Rebranding your business is not a decision that should be taken lightly. It is a major undertaking. It involves a significant investment of time, resources, and effort.

Attract. Win. Serve.

However, there are several compelling reasons why your business may need to rebrand.

Underperforming branding

If your current branding is not attracting and retaining customers or effectively communicating your message, it may be time to rebrand. This could include updating your logo, refining your messaging, or redesigning your website.

Merger or acquisition

Rebranding is often necessary after a company merger or acquisition. This is typically done to establish a new identity that reflects the merged or acquired companies' values, cultures, and missions. It is also an opportunity to reposition the new entity in the market.

Changing target market

Say your target market has shifted. Then you may need to rebrand. This is to ensure that your brand resonates with your new audience. This could involve updating your messaging, refining your visual identity, or even changing your company name.

Change in business or company strategy

If your business strategy or company's mission changes, you may need to rebrand to reflect these changes. This is particularly relevant if you are expanding into new markets. Or if you’re pivoting to focus on a new product or service offering. Rebranding can help you communicate the new direction of your business. In turn, it can help you attract new customers.

Rebranding strategy

You may wonder how to develop and implement an effective rebranding strategy. This requires careful thought and planning. Here are some key steps to consider.

Conducting a brand audit

Before rebranding, it's crucial to evaluate your current branding and understand what isn't working. Conducting a comprehensive brand audit should include reviewing current messaging, visual identity, marketing materials, and datasets. Data analysis during this process helps identify the target audience, the competition, customer trends, and how the brand is perceived. The audit's outcome is a clear identification of the gaps, opportunities, challenges, and what needs to change for your brand to achieve the desired goal.

Developing a strong visual brand identity

Your visual identity, such as the brand's logo, color palette, typography, and design, is essential in establishing brand recognition and recall. Since visual elements tend to be the most visible aspect of a brand, a visual identity upgrade can change the perception of the brand instantly. The rebranding strategy should focus on the values and goals identified in the audit to create an impactful visual identity and new brand identity systems that align with the brand's personality.

Identifying brand values

Your brand values are the beliefs and principles that guide your business. They are the foundation of your brand's personality and the standards it sets for the target audience and the community in general. Rebranding provides an excellent opportunity to re-evaluate and reposition your company's message. This helps you identify new values that align with your business goals. Involving key stakeholders in this process is vital since they can provide the necessary insight and make campaigns more relatable.

Creating a rebranding campaign

A successful rebranding campaign should connect with the audience emotionally and communicate the values and mission of your new brand clearly. It should be consistent, comprehensible, and authentic since any deviation can lead to struggles with customer loyalty. Effectively use all channels of communication. For instance, social media, advertising campaigns, content marketing, and public relations. Rebranding campaigns can be challenging and should be communicated clearly to stakeholders and shareholders while being transparent and honest about why and how the rebrand is taking place.

The rebranding process

Let’s say you’re done developing a strong rebranding strategy. It's then time to start the actual rebranding process. This can be a complex and time-consuming undertaking. But with careful planning and execution, you can successfully transform your business's image.

Consistent branding across all channels

So how do you do a successful rebrand? First, ensure that your new brand message and visual identity are consistently communicated across all channels. This includes your website, social media profiles, advertising materials, and any other platforms where your brand is represented.

New brand strategy for marketing

Your rebranding marketing strategy will play a critical role in the success of your rebranding effort. This may include online and offline advertising, public relations efforts, and outreach to industry influencers. The goal is to create a buzz around your new brand, generating excitement and driving interest among your target market.

Developing a rebranding campaign strategy

It’s time to execute a successful rebranding effort. You'll need to develop a comprehensive campaign that includes both internal and external brand elements. This may include employee training, new messaging and brand guidelines, and promotional materials targeted toward customers.

Rebranding timeline and budget

Rebranding your business is a significant undertaking. It requires careful planning and execution. Developing a realistic timeline and budget is critical to ensure that you can complete your rebranding project on time and within your budget.

Rebranding announcement examples

When announcing your rebrand, communicate clearly and effectively to your customers, employees, and stakeholders. Examples of successful rebranding announcements include the GAP rebrand in 2010, which included a new logo, advertising campaign, and website redesign. Apple's rebrand in 1997 involved a new visual identity and product lineup. Meanwhile, the Old Spice rebrand in 2010 included new messaging and a humorous advertising campaign.

Examples of successful rebranding

Rebranding is a challenging process for any organization, especially for brands with a well-established image. However, when executed correctly, rebranding campaigns can create memorable, impactful messaging that resonates with audiences. Here are some examples of successful rebranding efforts.

GAP rebrand

In 2010, the popular clothing company GAP announced a new logo that replaced its well-known blue box design with a bland sans-serif font. This change was widely criticized and ridiculed on social media, prompting GAP to revert to its old logo within a week. The company's quick reversal showed that its branding was part of its identity, and changing it significantly could harm consumer perception.

Old Spice rebrand

Old Spice had a reputation for being a brand for older generations. However, the brand successfully rebranded itself in 2010 by creating a campaign that appealed to a younger demographic. The "Smell Like a Man, Man" commercial series featured a ripped, shirtless Isaiah Mustafa delivering hilarious one-liners to a catchy jingle. The campaign was a hit. It led to a 55% increase in sales in just a few months.

Apple Inc rebrand

Apple's initial logo was a detailed drawing of Sir Isaac Newton sitting under an apple tree, but the brand underwent various changes to arrive at its current iconic, minimalistic design. In 1997, Apple overhauled its logo from a rainbow-colored apple to a sleek monochromatic design that is still recognizable today. The logo change signified the company's focus on simplicity and sophistication, aligning with its products' sleek designs.

These brands' successful rebranding stories convey that effective rebranding requires significant strategic effort, a deep understanding of the target audience, and consistent branding across all channels.

Rebranding helps you assess your brand's strengths and weaknesses and the corresponding impact a significant change will have on your business and your audience. By implementing the right rebranding strategies and steps, your business can revitalize its brand, communicate its values more effectively, and strengthen its identity. Ultimately, it can lead to improved market positioning and increased customer loyalty. More importantly, it can result in higher revenue.

Final thoughts on rebranding 

Rebranding can be daunting. But it can also be a crucial step in improving your business's success. From an underperforming branding strategy to a merger or acquisition, there are many reasons to consider a rebrand.

When considering a rebrand, ask yourself if it's the right time to make a change. Rebranding doesn't always guarantee success. So it's important to evaluate your business's current situation and determine if a rebrand is necessary. Some factors to consider include if your branding is outdated or if there is a shift in your target market.

The rebranding process can seem overwhelming. But there are steps you can take to make it easier. Conducting a brand audit, identifying brand values, and developing a strong visual identity are all crucial steps in the process. It's also important to have a consistent branding strategy across all channels and to develop a marketing plan for your rebranding campaign.

Successfully execute a rebrand launch with B12

Rebranding can bring numerous benefits to your business. It can improve your brand recognition. Plus, it can help you stand out in a competitive market.

Ready for a complete brand overhaul? Give your business a fresh start and successfully rebrand by partnering with B12. 

B12 lets you make changes to your website and execute any improvements you want to make, such as a logo redesign. Easily request updates and sit back as our team of experts implement your rebranding vision. Get started today for free in 60 seconds.

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