Rebranding a company is a big decision. It isn’t just updating a logo or a slogan. This process is about developing a fresh strategy that visually reflects your current brand values while honouring your existing legacy. To ensure long term success and to attract new business, rebranding is essential. It will make your brand look current and relatable in a competitive marketplace.
If you’re considering a rebrand, here are some key insights to help you with your decisions.
Your Brand Is Much More Than Your Logo
This is the biggest misconception to do with branding. Your company brand is so much more than just your logo and identity. It encompasses EVERYTHING to do with your business, culminating in the experience that customers have when coming in contact with anyone on your team. Your brand is the lifeblood of your business and should inform your collective and individual actions.
You Can Start The Rebrand Process Yourself
You don’t need to engage an agency right away. You can start by conducting a brand audit, which is the first step in any rebranding process. You need to know what already exists in terms of your current brand so you know exactly what you need to have updated. Once you’ve decided what is no longer working, it is easier to ascertain what you would like your new brand to achieve.
A lot of businesses prefer to have a rough idea of their values, mission, story, and positioning before bringing in a branding service agency to help with their identity. This early audit is also a good time to ask your staff and management team about their ideas so they feel involved in the process.
Working With An Agency Adds Value
Seeking out the expertise of an experienced agency advice is always going to improve your rebranding project and efforts tenfold. A professional branding agency can give you valuable insights into what is trending within your industry and what will best reflect your unique business.
Agencies take a holistic approach that can help you determine the strategy, positioning, values and design elements that will best connect with your target audience. They can help you reach your end goal of engaging more customers and adding value to your business.
The Rebranding Process Is Similar To The Branding Process
In terms of the branding and rebranding process, there’s not a world of difference between creating a new business brand or rebranding an existing company.
So, if you’ve been through the branding process before, you’ll know what to expect.
There’s one added step at the beginning of a rebrand which is conducting a brand audit.
With rebranding, there’s two ways you can opt to go:
- A complete rebrand
- A brand refresh
A Complete Rebrand
A complete rebrand involves overhauling every single thing to do with your business. Sometimes, it might even prompt a name change. However, more often than not, it’s primarily the brand strategy and brand identity that are revised.
You might opt for this approach if your current brand has become completely outdated and irrelevant. Or, perhaps you’re trying to escape from a PR disaster, reach new target audiences, or are merging with another company.
A complete rebrand evaluates your current assets, determines your market position, and starts the process again to give you a completely new look and feel. Essentially, it’s a hard reset for your brand.
A Brand Refresh
The second option is for a brand refresh. Nothing has changed in terms of the business strategy, and your current branding still resonates, but your brand identity perhaps looks a little dated compared to when you first started.
It is a less involved process that can help make your brand appear relevant and current. This is especially important in maintaining a modern business image if you haven’t updated your graphics in the last 5 to 10 years.
Which route you decide to take should be based on the problem you’re trying to solve and your long term business goals.
Rebranding Will Increase Your Bottom Line
There’s no reason to rebrand your company if it’s not going to have a positive effect on your bottom line. The investment in rebranding your company should make a return. After all, rebranding isn’t just an exercise in looking pretty. It’s a strategic way to solve the problems your company may be facing. There’s simply no point in doing it if it doesn’t generate a return. Remember, rebranding is a marketing tool that, when executed properly, should make you money.
A Worthwhile Investment
Getting to work on a rebranding project is a business owner’s dream. We hear it all the time: “I’ve been wanting to rebrand for years. Now, we have grown. We know who we are and have the means to go and do it!”
If you already have a strong business base, rebranding and the involved costs may make you apprehensive, but the investment will be worth it. Rebranding doesn’t cost the earth, but it shouldn’t be as cheap as chips either. Low cost options usually deliver low quality assets that could cost you more in the long run.
Deciding to rebrand isn’t a decision that should be taken lightly. There are always going to be reservations and questions to ask. If you know that you’re ready to embark on a rebrand journey, commit to it and get it done professionally and properly. Your business will thank you for it.
We are here to help
Having a dedicated team on your side to help you to revamp your brand is integral to the success of your business. Our team at D&Co Studio is highly experienced in providing rebranding solutions for a range of businesses.
To find out more about how we can bring your brand to life, chat to us today by calling 03 5292 2073 or send us an email.