How do you know when it’s time for a rebrand? Maybe you’re making a change in your products or services, your leadership, or your target audience. Maybe you’re updating your company’s mission and vision. Maybe your company has simply been around for a while, and it’s time for a fresh face. Regardless, when considering a rebrand, there are several factors to keep in mind. We’ve broken down our top dos and the don’ts for a successful rebrand.
DO conduct an internal brand audit
The key to an effective rebrand is to understand what specifically you want to achieve with your new launch. What is currently working for your brand? How do you expect your values, brand positioning, or tagline to change? Where are your problem areas? By thoroughly evaluating your brand’s performance before you get started, you’ll be able to direct your focus most efficiently during your launch process.
DON’T forget to analyze your competition
At least a portion of your strategy should involve taking note of what your competitors are doing and applying these observations to your plan. Assessing your others’ branding strategy can reveal both good ideas to emulate and bad ideas to avoid. It’s a low-risk way to analyze the long- and short-term results of branding decisions and guide your choices when positioning yourself in a new market.
DO promote your rebrand
Publicly discussing your rebrand can actually do more than simply maintain your current level of business – it can actually lead to an increase in customer engagement and revenue. As you prepare to rebrand, be sure to use all the tools at your disposal to communicate your upcoming launch and prepare customers for the changes they can expect to see from your company. In turn, your customers are likely to be supportive and have a better understanding of what your brand has to offer.
DON’T leave your current customers behind
Where possible, take steps to make sure your rebrand impacts your existing customer base as little as possible. Especially since it will take some time to see returns from your new focus, you don’t want your current flow of revenue to drop. While being transparent and upfront about your rebrand will help retain customers, the most important thing is continuing to provide excellent service to your existing customers, so they know they are still a priority.
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