Rebranding isn’t as simple as just creating a new logo and uploading to social channels – it’s a lot more complex than that and isn’t something that should be taken lightly.
Branding forms a major part of any marketing strategy and it is important that the message is clear from all parts of the marketing; logos, content, web design etc. However, there is absolutely a time when rebranding is needed, but it is really important to be aware of the pros and cons related to rebranding and the effort and work load that it will take to ensure all goes smoothly.
Pros of Rebranding
Attracting new and nearly new customers
If you have been in the market for a number of years, it is possible that your company message and brand image may have become quite stagnant and even irrelevant. It may be that your company goals have changed slightly over the years, but your branding hasn’t. By undertaking a rebrand and looking closely at your company image, company personality, message and target audience you can successfully attract a new audience and maybe even reignite an interest from existing customers that may not have interacted with you for a while.
New look, new goals, new message
A rebrand is the perfect time to put new goals into play or improve current goals. Rebranding also creates a perfect opportunity to get staff and customer feedback on board, using this information to enhance your offering. By encouraging staff to be involved with the rebranding, company message and goals, they will feel more invested and excited about your business which will have a positive impact in day to day work productivity. By looking at all aspects of the brand it is very possible that a new company message will also be unearthed, helping to create an all-round rebranding strategy that is solid.
Further engagement
A rebrand gives you the perfect opportunity to shout about it and increase engagement socially. Running a social media campaign counting down to the rebrand, explaining the ideas behind your thinking and unveiling your new message is all part of the process and will help to generate the buzz and excitement about the new changes.
Cons of Rebranding
Eliminate chaos
Any sort of change can create chaos and rebranding will be a tricky time. However, with the right plan in place and the right message internally and externally, the changes should happen with minimal disruption. Keep on top of the game with press releases, announcements on social media and sending email newsletters to keep all informed.
Potential losses
It’s a fact – people don’t like change. Even if you do everything else right and disruption and chaos is kept to an absolute minimum, it is possible that you still may lose a few customers, purely down to the fact that people really don’t like change! This needs to be considered and weighed up in advance of any changes getting the green light and going ahead. Keeping the communications channels open and informing valued customers of the changes in store could help you to keep hold of them.
The Bottom Line…
Rebranding will impact your bottom line – you need to be prepared to pay some money for this to all be possible. Not only will you need to spend money on the actual design elements, you will also need to be aware of the time and costs associated with revised marketing plans and strategies, tweaks to the company message and more. However when done correctly and at the right time, rebranding can absolutely be worth its weight in gold!
