Rebranding is a dreaded task for many businesses, but it’s extremely important to reshape your brand to survive in the competitive market. If you’re losing your customers, an effective strategy can protect you from further losses.
However, you need to be extra careful during the rebranding process. You should learn from brands such as British Petroleum, Gap, Holiday Inn, and Kraft that failed to get the desired results despite spending a huge sum on rebranding.
It’s best to get in touch with a professional branding agency such as BrandMatters to develop an effective strategy for increasing goodwill. Here are a few factors you shouldn’t overlook during rebranding your business:
1. Focus on Your Core Message
Before you contact designers to create a new logo or redesign your company’s website, you should develop the core brand message. Define your mission and vision and then you can plan how you’re going to deliver this message through different channels.
2. Note Down What’s Working and What’s Not
You don’t necessarily need to completely alter your company’s branding strategy. A few tweaks can work. For this purpose, you should go through the statistics and reports.
Think hard about what factors are working for you and determine the things you need to change. It’s possible that your tagline is attractive and grabs the attention of potential customers, but your logo is a major turn-off.
You need not waste resources on factors that have been working for your company. Not only will this approach help you increase your customer base, but also save costs.
3. Customer Communication
It’s not a good practice to hide the reasons from customers why you’re rebranding your business. If they don’t understand why you’re doing so, this will ruin your relationship with your existing customers and they will lose trust.
So, it’s extremely important to inform your customer base about your decision. When launching a new logo or a redesigned website, you should encourage your customers to share their feedback. You can also ask for suggestions during the process.
4. Introduce Promotional Merchandise
Some businesses consider it a waste of resources to use the promotional merchandise. However, these products prove extremely effective in increasing brand awareness.
Print your updated logo and tagline on different products and distribute it among your employees and loyal customers. It makes customers feel valued and they are likely to stick with your brand for long.
Around 60% of customers keep promotional products with them for up to 2 years. It acts as your business card and facilitates you to increase brand visibility.
As compared to the advertisement on billboards and in magazines, people tend to remember the name of the company on promotional products for long. You can order customised products with your brand name and logo imprinted via Custom Gear.
A business rebrand is a challenging task, but if you do it right nothing can stop you from becoming the market leader. You should contact a professional branding agency and carefully develop a strategy to increase brand awareness.
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