New face, new opportunities. If your business is facing a bit of a rough time or new competitors are getting ahead of you, it may be the perfect moment to rebrand. Changing any aspect of your brand –be it the logo, the name, the slogan, or all of them together- can breathe new life into your business, create a fresh new perception and bring new customers. But be warned, it´s a risky move.
Rebranding is more than just updating your logo, it is designed to reconnect a brand with its target market, so it´s important to consider whether the problem your business is facing can really be solved with this alternative. If there is no problem, rebranding can be a good option if you want to expand the business or attract a new market segment. The first step to take is asking yourself what changed within your company and what changed with your customers. Finding an answer to questions like these can determine whether you should rebrand your business and if so, laying a foundation upon which you can start to rebuild the brand.
Once you establish your goal, you must design the new version of your brand. The key for this part of the process is: perception equals belief. The important opinion of the new presentation is not yours, is your customer´s. No matter what you changed –logo, website layout, even store layout or product- it must keep reflecting your vision. You don´t need a change that is so extreme, that nobody recognizes it anymore. Small changes can be simple, yet effective. It´s alright to ask; customers will be your most reliable source of information. Try different perspectives and ask a small segment which are they most comfortable with. This will minimize the risk of your change. After all, what matters is what they will think of your brand more than how creative or innovative it may be.
Remember, rebranding takes time. It is a progressive process that could even last the entire duration of the business. Rebranding is about adapting your image to the needs and interests of your customers. It is a risky but rewarding process. Find a balance between your customer needs and the essence of your business. Think creatively, listen to your surroundings and always keep in mind your mission, vision and objectives.
Author: Valeria Ornelas
Valeria Ornelas is a self-proclaimed bookworm and debate enthusiast, she has written award-winning speeches and essays. At only 20 years old, she is currently pursuing a degree in Marketing in Guadalajara, México.