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What to consider before rebranding or renaming your business

Choosing to rebrand your company is a huge decision that should only be made for the right reasons. All too often, business owners rush into a new look for their brand because they want a quick fix to a wider problem. They may have experienced a series of bad reviews, feel the old logo needs a reboot or want to attract more clients. But, these are not great reasons to start afresh. The process of rebranding is costly and complex. Moreover, although you are taking a gamble that could well pay off, there are significant hazards to consider. That’s why you should fully understand what you are getting into before starting and only change your business name when necessary.

Businesses that rebrand are essentially reorganizing their strategy and mission. They are bringing their brand in line with their new values and in doing so, allowing themselves to create better marketing campaigns. This can be essential for companies that have a new business model, those which are relocating, and those which are merging with another brand. These and many other scenarios can call for a refresh, but the extent of change can be debated.

Do you need a rebrand or a recharge?

Reinvigorating your brand may be preferable to changing everything if you intend to retain the same market position and principles. This ensures your brand can evolve to reflect changes that could be affecting the marketplace, without altering its original purpose. From changing your logo to modernizing the font or colors you use, there are plenty of ways to stay relevant in a competitive market. For established businesses that don’t want to alienate their current customer base, retaining brand loyalty is a key concern. In these circumstances, a quick refresh will keep you up to date, but still recognizable.

Preparing for a complete rebrand

When a business has acquired other brands, it makes sense to observe the occasion with a new name. Owned by Patrick James Trico, First Brands Group is a manufacturer of automotive parts that have bases across the world. They serve a global market. However, they were previously known as the Trico Group, the company name was changed as it grew and purchased other aftermarket brands. Altering your brand identity in this way involves communicating what the fundamental changes in your business are. Are you structuring the company differently, selling new products, or providing a range of new services? Your audience will need to be shown what they are being offered now, compared to what was previously available.

Be confident in your choice

To provide customers with a clear and concise answer, you’ll first need to determine the answers for yourself. Start by forming a new vision that is easy to convey to your team and your clients. This should get everyone on the same page quickly. Next, update your company values so people can understand why your brand needed to change. Finally, be sure that your brand’s tone of voice matches the other changes. This new tone will represent your business’s personality. Thereby, impacting the way your marketing is received by an audience. Define and unify it as much as possible.

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Establishing a new identity

Each choice you make at this point should be towards authenticating what your new brand represents and the image you want to project. Sharpening up your look is less about gimmicks and more about bringing a raft of elements together in unison. Think about your target audience and choose the brand story you plan to give them. You should also work out what your new goals are and whether they are flexible enough to adapt. Finally, be ready to explain what makes your offering unique and why you are better than your competitor. These are the factors that build awareness of your brand and give you a foothold in the marketplace.

Revise your image

Any change to your name and logo should be future-proof. Choosing a new look can be exciting, you don’t want the expense and stress of redoing this next year. Revamping your digital presence can also take time, but don’t neglect it. Implement the new changes on your social media pages, your website, and any third-party pages that you use. It’s not just about the new name and logo, however. The rebranding will include revising metadata, updating affiliated partner terms, and changing what SEO terms you’re using. Once everything is in place, you can post a blog or news story that announces the change. Then you can create a few social media posts to reinforce your message. To engage with people effectively, it’s sensible to explain your reasons for the change and provide some personal insight into the new direction you are taking.

The post What to Consider Before Rebranding or Renaming your Business appeared first on Mike Gingerich.

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