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Rebranding a venture is not an overnight job, and it should never be done in a hurry. If you are looking to refresh your brand, this quick read is what you need.

Branding is a very important aspect of a company’s identity, and it is what helps the customers relate to it. It encompasses all nuances of a company’s existence and operations, including the likes of design, product, packaging, logo, tagline, customer service, web and print merchandise etc. However, it is quite commonplace to see some companies opting for a rebranding exercise. This may take place owing to a number of reasons. 

Nuances of rebranding and why it becomes necessary

Rebranding can be defined as a marketing strategy meant to create an all-new identity for the business. It involves a subtle to moderate alteration in symbols, logo, design and services. Rebranding gives an existing company a new image, and it is able to stave off completion from the new entrants better. Big-sized companies from sectors like retail, electronics, FMCG, healthcare and hospitality have opted for rebranding- for varying reasons.
 
It can be necessitated by changing consumer preferences and making a foray into new segments and markets. Brand mergers and acquisitions can also act as triggers for rebranding.

How to develop and deploy a rebranding strategy?

  • First of all, you need to think of the root cause for rebranding. It can be a partial rebrand. This can be necessary when the company wants to acquire a trendy and new image. A merger-based rebranding happens when a company is merged with another. A full rebrand is necessary when a brand wants to revamp its image completely. This is what sets the base for the rebranding exercise.
  • The 2nd step is hiring a branding agency with expertise in rebranding and overhauling services. Ideally, you should hire an agency that has the experience of working for companies with belonging to your niche. Of course, you will have to set a budget for the entire rebranding exercise beforehand.
  • The agency has to analyse the goal, vision, and values of the company. The rebranding exercise should be done with a focus on highlighting its USP. If the brand is about to make a foray into a new segment or expand operations to a new territory, that has to be assessed well. The new tagline, logo and design should be in sync with the tone and voice you want for your brand. The target buyers and their preferences have to be analysed as well. What appeals to buyers in their early 30s will not work for people in their 60s and later years.
  • Before coming up with a new design element and logo, tagline etc., the agency should analyse the segment rivals of the client company. After assessing its branding strategies, it should be able to come up with a strategy that will help its client company stand out. A redesigned brand should look distinct and refreshing.
  • Before rebranding can be finalised, a few mockups and design blueprints are developed by the agency. The client company is then asked to compare the design mockups, and one is chosen as the final one. 
  • Based on the type of rebranding, design elements like colour, font styles, and taglines are chosen. In most cases, it is not a drastic departure from the earlier design elements. Subtle changes in font, shades and usage of trendy and appealing geometric shapes are chosen by the majority of entities opting for rebranding. It is important that the existing buyers can still relate to the redesigned brand image.
  • When all the design elements are tested and finalised, it is time to launch your rebranding campaign. Brands give out teasers and ads in various online and digital channels, and they also make use of print media. Some also involve celebrities and social media influencers for a successful launch. A formal relaunch can be done on multiple platforms.

Things to keep in mind

You have to remember that rebranding a venture is not an overnight job, and it should never be done in a hurry. Extensive research and analysis of changing customer preferences and goals of the company are necessary before you can engage in such a task. It is also necessary that you sign up for the services of a veteran branding agency. Assess the agencies using parameters like tenure, client feedback, and interaction and service terms.  

Check out some of the best Branding agencies, now.