By Marisa Hochberg : https://thepuristonline.com/2019/05/pure-picks-marisa-hochberg/
The word “rebrand” brings to mind images of liver commercials and playgrounds named after brands. However, the term rebranding is much more than that. Although it’s becoming one of the most commonly used words in marketing today, the process of redesigning your company identity has only just begun. Rebranding is a long-term proposition that requires a significant amount of upfront work and ongoing maintenance on your end. A new brand can be as simple as changing the font in an existing website or curtaining new packaging for every product. On the other extreme, if you own a business with global reach, then a complete rebrand will likely involve leaving all other national companies to create a unique identity for yourself.
Define Your Current Brand
When most people think of rebranding, they think of changing the brand name of a product or service. However, rebranding can also be applied to a company’s overall identity, including the logo and tagline. If you have a “brand” in the traditional sense, then you may want to start by clarifying that.
Rebrand Basics
When you decide to rebrand, you’ll first want to define your company’s current brand. For companies without a brand in the traditional sense, the first step is to obtain a solid trademark for your business. Although the process is long and expensive, it’s one of the best ways to ensure that your new brand is easily recognized. Once you have a clear trademark, the next step is to apply for a brand name. You may be required to search the entire file list of popular brand names to find one that fits your business.
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The Importance of Good Branding
The importance of good branding can’t be stressed enough. Consumers are more likely to purchase products that are associated with brands they trust and are familiar with. Trust is the backbone of any business, and a strong brand name is a foundation for everything else. If you own a restaurant and want to change the name to “The Apple Store”, there’s a good chance that people will remember the brand name “Apple” and associate that with the restaurant. The same is true for any other business with a recognizable name. If you own a muffler shop and want to change the name to “Good Muffler”, people are more likely to remember the brand name “Good” and associate that with the muffler shop. These are just a couple of ways that good branding can help your business thrive.
How to Start the Rebrand Process
The first step in rebranding is to clearly define your brand’s essence. The essence of your brand is the broad strokes that make your business what it is. For example, if your company’s essence is “the home of reliable delivery”, then your branding process would have to take into consideration the following: – What is the significance of reliability in today’s world? – How can we best demonstrate reliability to consumers? – How can we best display reliability to employees?
The Rebrand Roadmap
Next, the rebranding team will work toward a branding roadmap. All brands develop a unique journey as they move through life. While every brand has a beginning and an end, the rebranding journey is the continuous process by which a brand grows. An effective rebranding journey is about more than just stopping the process and then starting it again. It’s about starting the journey and then maintaining it so that your brand continues to grow and thrive.
Should You Build a New Marketing Automation Platform?
If the idea of building a new platform to support your new brand is too daunting, or if you’re unsure if your current platform would be up to the task. In that case, you might be better served to start small and use the platform as a safety net. If everything goes well, and your new brand is well accepted by consumers, then you can expand your reach by moving to a larger platform. In most cases, the decision to move to a larger platform is driven by the need to scale up organically, rather than by financial necessity. Maintaining a small footprint on a small platform can be difficult while moving to a larger platform can be easier. If you’re unsure whether your current platform would be up to the task or whether a larger one would be better, then the simplest approach would be to start small.
Conclusion
The rebranding process is a long and challenging process that affects both your branding and your finances. A new brand can be as simple as changing the font in an existing website or curtaining new packaging for every product. On the other extreme, if you own a business with global reach, then a complete rebrand will likely involve leaving all other national companies to create a unique identity for yourself.