The time’s changed. The fashions, the trends, the ideas themselves… And it may be that what used to perfectly represents you no longer exists. The same happens with companies and their Branding or brand image, which can change over time to adapt to new realities.
This is what is known as Rebranding. However, we will delve deeper into this concept and discover what it is, what it implies and encompasses, and without a doubt, what benefits (or problems) it can bring to brands. Do you dare to discover it?
1. What is Brand Branding?
To begin with, we must understand what Branding is. This Anglicism may initially sound abstract; however, if we go to its literal translation, we will find that Branding refers precisely to brand building. This encompasses everything related to visual identity, but also the feelings and emotions that your audience experiences in front of it.
Branding includes all actions related to market positioning and is closely linked to the purpose and values of each brand. Therefore, a well-developed brand strategy will help generate easily recognizable brands in the target consumer’s mind.
2. The (great) importance of Branding or brand building
Since their inception, Branding has always been important since their inception, and companies have dedicated efforts to build a strong and lasting brand identity. What is true is that, in the middle of 2023, these strategies are even more binding.
Amid the digital age, there are more and more supports in which brands carry out their activity: physical stores, but also ecommerce, social networks, webinars, television, press…
The essence must remain solid in all of them, with the same visual identity, message, and values. It’s not an easy task (no one has said it is, unfortunately!), but it’s worth it. In this way, whatever the medium in which a brand has a place, its audience will recognize it and be able to identify with it.
3. Rebranding, why is it necessary?
As we said at the beginning of the article, a strategy can be good but not eternal. In the same way, what represents a brand can change over time: its iconography, the values associated with it, or the brand’s target. For this reason, many brands choose to change their strategy, or what is the same, a rebranding.
Rebranding is a marketing strategy that involves structural changes in companies. The reasons that drive it can be different:
3.1 Reformulation of the sales strategy: orientation towards new markets and buyer personas
When a business lands in new places, such as new countries or continents, it may need to tailor its message to a different culture and audience. The image and message in Europe may not be as successful in Asia or America. A well-defined strategy with a solid foundation will allow adaptations to new environments.
3.2 Launch of new product lines
New product lines may require specific communication plans. This happens, above all, in large companies. A new line with a different image, public, or values than the parent brand will undoubtedly require completely new planning, which provides differential value but which, depending on the company and its objectives, maintains the essence of always.
3.3 Adaptation to new trends or supports in the company
Times change, and the motto “adapt or die” gains value. It is often necessary to propose a brand rebranding to adapt the logo or communication strategy to new supports and trends, such as social networks.
3.4 Change in the mission, vision, or values of the company
A change in the brand’s message must be reflected in a company’s image and communication. If we establish new goals, bet on social causes, or consider ourselves an equitable and committed company, our Branding must reflect all of this.
3.5 Differentiation from Competitors
In highly saturated and competitive markets, differentiation is essential. What will make your public opt for you if your image and strategy are the same as other competing brands? A striking image and a disruptive brand strategy can change everything.
3.6 Your target is no longer identified with the brand
One of the risks of Branding is stagnating in the face of success. A proposal may work at any given time; however, that does not mean it will always be so. Your consumers do not owe you loyalty; therefore, when they stop identifying with you, another brand will take the opportunity to meet their needs. For this reason, Branding and brand strategy require constant monitoring to find out what works, what doesn’t, and until when
4. Steps to follow for a successful rebranding
Now that you can get an idea of whether your business should consider a change in strategy, it’s time to get down to business. We explain how to proceed when carrying out a rebranding to captivate your audience and generate a clear brand image that your potential customers will fall in love with.
The first step is to know your brand. It may sound obvious; however, many companies jump into work without clearly defining their activity, values, and mission. Recap the beginnings of your brand: knowing what the motivations were when creating it or what the objective was is a good starting point.
Also, define what your value proposition is, what your company has and others don’t, and always be clear about what sets you apart from your competitors and thus project it into your Branding.
Study your target audience in depth. This is a CRUCIAL section when establishing a marketing plan, and you must consider that the more points you cover and the more you know about your customers, the more capacity you will have to satisfy their demands.
You can start by establishing an age group and determining your target’s motivations, tastes, concerns, and routines. Still, it would help if you also studied what environments they move in, what content they consume, and what they expect from your company.
Do not try to cover everything at once: Rebranding a company affects deep levels in the organization and projection of the company abroad. It begins by establishing the priorities, the starting point. Set a budget for the most immediate actions and focus your efforts on achieving the best result.
Work as a team: Involve the company’s different departments to construct your brand strategy. Your team has a lot to say, and each link will be able to contribute all their knowledge and experience when proposing new challenges and solutions.
The finance department will control the feasibility of the proposals, the marketing department will advise you on the latest trends, and the design department will materialize the new image.
Just as your team must be involved, they must also be informed. Please keep the entire company informed of the changes that will be made; after all, each will be in charge of projecting the new image and values.
Update everything, and when we say everything, we mean everything. Check all the supports of your company, communications, uniforms, signs, and images of social profiles… take care that your new image is applied without exception; if not, you will make a mess for your clients.
5. How to communicate Rebranding
If you carry out a brand rebranding, you will wonder how to transfer this new image to the world. First of all, your audience has to understand your new image, you have to present it to them so that they are familiar with it, and this is a good moment to add some more explanations.
It is a great opportunity to explain the creative and creation process during the Rebranding and why you chose that new image so that the user understands it (many times, a bit of the history, philosophy, and values of the company is included here).
If you present your Rebranding and explain it, you will achieve a greater emotional bond and a closer positioning. Sometimes, it is decided to create an entire campaign that revolves around the new corporate image; here, you have to use ingenuity so that your story arouses the public’s interest and decides to accompany you to discover your Rebranding.
Also Read: Digital Marketing Trends For 2023