As almost everything in life, marketing starts to become outdated as time marches on. It gets to the point where the brand actually starts preventing growth instead of driving it.
When this is the case, it is time for something we marketers like to call a rebrand.
There are a myriad of reasons as to when and how a brand should be refreshed or changed completely, but there are some principles that stay true through the ages.
- Remember Your Target Audience
Working on a brand is actually a very delicate act that could generate the wrong results if not done for the right audience. Your target audience is typically the group of people that currently drove your business or are hoping to drive your business. When a newer generation of leaders start taking over business and you come to realize that they are the ones buying your products, it might be time to start building a brand that speaks to them.
Just because a huge new pick-up truck looks cool and is functional in many ways doesn’t mean you would give it to someone living in downtown Chicago where it’s hard enough to park a VW bug.
- Don’t Change Who You Are
Sticking to what your company is and what you stand for will be a guiding light in how you speak to your customers and clients through your brand. There are some special marketing formulas to help someone write a killer brand story, which is basically a story of what you do, why you do it, and who you do it for.
This ties in very closely with the company’s mission and vision statement, which should be the backbone of any and every company. There are a plethora of examples of companies that have weathered the years and come out on top by sticking to their heart and soul of why the company was created in the first place.
- Do Your Research on Trends
Doing research on design trends, color trends, advertising trends, or basically anything that has to do with marketing at all, will really help with the rebranding process. Trends are trends for a reason…people like them. They are good indicators of where markets are headed, and designing a brand that speaks to market changes will go a lot further than a brand that’s still stuck in the days where it was cool to wear bell-bottom jeans.
- Make Your New Brand Known
A successful rebranding will usually be followed by some kind of launching experience. Some companies like to throw parties to celebrate their new look and feel. Not just internally, but they’ll invite clients and prospects to see what’s going on with them.
It could also be as simple as emphasizing the new brand on the, hopefully new, website. It’s a new thing and people need to start recognizing it. The last thing you would want is to pour all this time and money into rebranding your company and not get any excitement from it.
There are and always will be many more factors that go into rebranding, but these are some sound principles to stick with when making the choice to rebrand your company.
What do you think is an essential key to rebranding? Comment below or shout out on LinkedIn.