Rebranding can be one of the most exciting (and challenging) elements of a business’s marketing strategy. When executed properly, a rebrand can spur new growth opportunities, build brand trust, and provide differentiation within your niche.
What is rebranding in business?
A rebranding strategy involves going back to the drawing board to rethink the way your company looks, talks, and feels — both internally and externally. It’s reimagining the very presence and identity of your organization to better position it in the minds of customers and employees.
That said, a rebrand doesn’t always have to involve a complete overhaul. Relative to your purpose or desired outcome, rebranding can come in a few different forms.
Types of Rebranding:
A brand refresh — a simplified change that involves minor visual and messaging changes. Key components of a refresh include logo and brand identity updates as well as new messaging.
A partial rebrand — involves updates to a well-established business or brand that communicate new services, offerings, or events. Partial rebrands typically take place when a business attempts to keep up with modern industry changes or new schools of thought.
A full overhaul of your brand — out with the old and in with the new. A full overhaul is exactly what its name suggests.
What does a rebranding strategy look like?
The basic steps of a rebranding strategy include the following components:
Solidifying your mission and values
Auditing and evaluating what your competition is doing
Creating a strategy that keeps what's working and reimagines the rest
Gathering and including your employee's input
Thoughtfully launching your new brand
What are signs it's time to rebrand your business?
As a marketing executive or business owner, it may be hard to know when the time is right for a rebrand. The old, “if it’s not broken, don’t fix it” mentality can be difficult to stray away from, but taking an honest look at the state of your brand can do wonders for its success down the road. Here are seven signs it’s probably time to rebrand your business:
What used to work is no longer working
Your brand is too similar to your competitors
Your brand is outdated or no longer aligns with your mission
Your target audience has changed (or they aren't relating to your brand anymore)
Your image doesn't reflect who you are today
Your look and feel aren't consistent
You're changing or expanding your focus
How does a rebrand work?
More often than not, businesses and organizations will team up with an agency to ensure all aspects of a rebrand are executed properly.
Partnering with an agency offers a multitude of benefits that help marketers and owners save time and hassle.
Benefits of Rebranding with an Agency Partner
Agencies offer holistic approaches to rebranding that incorporate all aspects of your business.
Agencies have trained teams of experts who can assist with creating new visual and messaging components.
Agencies often have a portfolio of rebranding experience with businesses similar to yours.
Great agencies will go above and beyond to understand every aspect of your business, your customers, and your mission.
Ready to rebrand your business?
Ready to take your brand to a new level? Interested in learning more about rebranding strategies? You’ve come to the right place.
Vye is a full-service agency that specializes in connecting brand and creative positioning to help businesses get better and drive growth. Let’s discuss your possibilities.
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