When Should You Rebrand?

When Should You Rebrand?

Rebranding Basics | Blueprint

There are a lot of ships drifting in the open seas. How can you create a vessel that can withstand the ever-changing tides? In this fast paced society, it is vital for your brand to fit into the changing environment.

Rebranding is a tool that a company can use in order to distinguish themselves from their competitors. Sometimes a company rebrands to seize an opportunity or remove expected threats in the future.

Other times a company may rebrand in reaction to an event that forces the existing brand to change. Rebranding is extremely important and can be a costly venture if not executed properly.

What is Rebranding?

Rebranding is a marketing strategy in which a new name, term, symbol, design, or combination thereof is created for an established brand with the intention of developing a new identity in the minds of consumers and competitors.

Diagnose

The first thing to consider when rebranding are the goals for the rebrand. Why are you doing it and what do you hope to gain as a result? A good way to start this process is to speak with your employees, customers and business partners. Ask them what the company means to them, where they see the company headed in the future. Reach out to your loyal customers through social media platforms and find out why they use your service instead of competitors. Once you determine your companies “usp” unique selling point, you will have a better grasp on the positioning of your company.

Express

Tell Your Story. If you don’t define yourself, someone else will. Articulate to your audience clearly why you do what you do and not just what you do. Make your mission statement known. If you come across a company that doesn’t have a mission statement, tread lightly. Your unique selling point will help develop a vision for your company if you don’t already have one.

Action

After you have created the foundation for your company, now is the time to act. Don’t just wait for a phone call. Be persistent. Make cold calls. Go door to door. That’s what Mark Cuban did and now he’s a billionaire.

Bon Voyage

Rebranding is an opportunity to re-engage with prospects and customers. A way to remove any bad publicity associated with a brand. Nobody wants to do business with a Pirate ship when they could do business with a Yacht. The consulting company Accenture used this method to separate themselves from the collapse of Enron. Formerly known as Anderson Consulting, Accenture emerged in 2001.

Whether your company is a large boat or a dingy in the water, rebranding is something to consider. Use these tips and position your company to withstand the unexpected waters. Bon Voyage and Godspeed.

By: Aaron Ward
  • Samantha Torres

    Good tips Aaron on giving reasoning of why to rebrand coming from a place of substance, not just for something to pass the time. Also like that you mention it’s not enough just to rebrand, you have to sell it, you have to push it. Great article!

  • “Tell Your Story. If you don’t define yourself, someone else will.”

    The Office Sage strikes again! I often wonder why so many small companies that have disastrous PR (often because their CEO does something naughty,) don’t ignore the calls for their head and instead go for a rebranding effort. It doesn’t always work, but it’s a whole lot easier than starting from scratch.

  • Naima

    Great job explaining about rebranding and why companies should consider it. It’s great for businesses to have fresh and creative rebrands in order to keep their current consumers and capture the attention of their targeted audiences.

  • Rebekah Faucette

    “Nobody wants to do business with a Pirate ship when they could do business with a Yacht.”

    This could not be more true or more eloquently illustrated! I’ve changed my opinion about restaurants, hairdressers and several other businesses just from reading a single Facebook post they’ve disastrously allowed their customers to see. If the owner presents themselves in a negative manner in such a public forum, then I don’t want to associate myself with them.

    I am curious about the time table that normally goes along with a rebranding. Your process seemed quite easy, but I imagine it takes a bit longer to accomplish this. How long does the average rebranding process take?

    • Aaron Ward

      Thanks Rebekah. The length of rebranding is different for each case. Once a company determines their “usp.” they are ready to move on. The Oregon Duck rebranding conducted by Nike took 8+ months to complete. You need to create a strong foundation of stone that can’t be washed away by the tide. Hope this helps.

  • Elizabeth Weaver

    Great article, Aaron! Very strong and meaningful points about defining yourself, which is so important for not only businesses, but even individuals. Thanks for sharing!

  • John

    This is a really great explanation of what rebranding means, and how it can potentially help businesses regain reputation and lost momentum. Very cool!

  • Chuniq Inpower

    Rebranding can be very important task to undertake to revive your business if at the mature stage of the product life cycle. The right strategy can reinvigorate your brand and attract new customers if executed carefully. Telling your story is key! Thanks for sharing the basics of this important concept!