A rebrand is a major change to make because it will change your Internet marketing strategy and could even signal a change in your target market. This is something you will only go through once or twice during the lifetime of your company. It’s important to know that you are making the right decision.
So how do you know if it’s time to rebrand and how should you get started with this?
What is a Rebrand?
A rebrand can come in a number of forms. To begin with, it could be as simple as changing a logo and changing the way you market your products. It could also be like changing your entire company, through making major updates to your products and redirecting your brand towards a different demographic.
Rebrands tend to come in response to drops in sales, or through trying to expand into other markets. When rebrands go right, they can completely change the face of your company.
How Do You Know When it’s Time to Rebrand?
You know when it’s time for a rebrand when you start to notice a negative change in your current marketing strategy. In practice, this means that you are starting to get diminishing returns. Your marketing campaigns are no longer having the desired effect. You may also notice that your revenues are starting to drop.
There are no hard and fast rules for when a rebrand may be necessary. It’s an educated decision you have to make.
The Trick to Getting Started with a Rebrand
Good rebranding is all about time. You have to make sure that you give yourself enough time to adapt to the market and to tell your target audience that their experience could change. The worst thing you can do is to thrust it upon your target market.
A lack of prior warning will lead to confusion and could upset the people who matter most.
What Changes Should You Make?
It’s difficult to be specific about the sort of changes you should be making to your rebrand. The easiest way to find out about the changes you should make is to ask your customers. Be upfront and honest about the changes you were thinking of making and ask for feedback.
It may be worth creating a draft version of your new website, logo, and product so you can help customers understand what you want to do. Tell them to be honest with their feedback. If the feedback is negative, it’s best to perform a retreat than to push on anyway.
Know When to Backtrack
It’s not uncommon for brands to decide to rebrand only to realize that they made a mistake. Take the clothing retailer Gap as an example. They came up with a new logo without consulting their customers. Everyone hated it and they were smart enough to revert to their original branding.
Don’t be stubborn about this. If people are happy about your brand, accept that.
Conclusion – Rebranding is Not a Science
You can use things like sales and engagement figures to grasp whether rebranding is something that is likely to work for you. But you will never receive a straight answer as to whether you should make changes. You have to be willing to experiment and try new things.
Not every rebrand will work. Some of your changes may be met with negative feedback, and that’s okay because the point is you tried to improve.
The most important piece of advice is to consult your loyal customers prior to making any alterations. You may find that people love your brand just how it is right now.