JB Communications presented to Kenner Business Association (KBA) on Tuesday, March 15, 2022 in Kenner, Louisiana. Jacquie B
Businesses are constantly looking for ways to stay at the front of consumers’ minds.If your brand needs a facelift, rebranding is a fantastic way to revamp old, outdated conventions, while staying true to the ore of what makes your company unique. With careful consideration, research, and planning, you can execute a seamless rebrand rollout.Your business can move along with the times while maintaining the integrity of its values.
Rebranding: Risky or Worth It?
Rebranding can be tricky, and it is far too big of a financial commitment to embark on without any prior preparation.
Imagine that you have just decided to paint your home. Instead of spending loads of time planning and pouring over design magazines you decide to use whatever old paint cans you find lying around in the garage and just start throwing paint on the walls. You end up with a huge mess that will likely cost way more to fix.
Now imagine the same scenario, but this time you’ve done all your research. You’ve decided on the perfect colors for each room, and you’ve hired professional painters to transform your home. This time, you end up with beautiful results that you love and that increase the resale- value of your home.
Rebranding, much like painting your home can be a big job, but it is well worthwhile if you have a plan in place. Many major brands completely recreate themselves every 7 to 10 years. They spend millions periodically revitalizing their image just to stay current. They do this because they know that constantly remaking themselves increases their value in an ever-changing market. You can accomplish a successful rebrand launch, too, and without spending millions. You just have to know the right steps to take.
Reasons to Rebrand
There are plenty of reasons a company might decide to rebrand. To justify such an undertaking, it is important to carefully weigh the benefits against the costs. Here are some instances in which a rebrand is necessary.
- Your company is adding new features, products, or services. A brand image should embrace everything that a business has to offer, but if you are not careful, the brand can start to feel disjointed and unorganized. Rebranding can help streamline your company’s image and drum up excitement for the latest developments.
- Your business market is shifting. As industries progress, your brand must adapt as well. Marketing strategies that worked in the past may not be as effective as they once were, and the attributes that defined a company before may no longer be as attractive to consumers. Rebranding allows you to showcase your business’ most enticing characteristics.
- You want to appeal to a different audience. If you want to attract a different clientele, you must tailor your brand image to represent the interest of the people you want to do business with. This was the case for Mountain Dew when they expanded their target audience of tough outdoorsy mountain folk to include extreme sports enthusiasts and gamers.
- You want to change customers’ perception of your business. First impressions are important, but they are not always correct. If you feel your current brand puts you off to the wrong start with consumers, change it. Reframe your business in the eyes of the public and show audiences a side of your company that you want them to see. This is also a great way to instill brand trust, which studies show is the deciding factor in 81% of consumer buying decisions.
Let Research Guide Your Marketing Plan
Sometimes, it is not the business that has changed, but the circumstances surrounding it. As a business, staying privy to fluctuations in the environment is critical to staying ahead of the game and remaining an industry leader. By meticulously researching the industry, your audience, and competitors, you can detect trends that inform how your business needs to evolve. When researching, ask yourself the following questions
- Have technologies or best practices within the industry seen an upgrade?
- Has the demand for my business’s products or services changed?
- What does my target audience want?
- What are my competitors doing differently or better?
If you find that your business is falling behind in any of these areas, it may be time for a rebrand.
Planning Your “Brand” New Rollout
LSo, you have decided that rebranding is the right option for your business. You have done all necessary research to create a new brand image that audiences will love. Next, it is time to launch your new and improved brand and present it to the world. There are several different techniques that businesses use to reintroduce themselves in a new light.
- Be selective on who you choose to connect with. Only accept invitations from people you would ordinarily network with.
- Redesign logos and other signature imagery. A brand’s visual presentation makes a massive difference in how customers identify the company. Studies show that signature colors increase brand recognition by 80%. Your company can change its brand image by redesigning logos, signature colors, and other graphics to fit its new personality.
- Rethink the brand’s archetype. Sometimes your brand needs a fresh new voice. You can accomplish this by changing the tone of your marketing copy. Use different wording to imply a more formal presence or a more relaxed one. You can even change the actual voice of your brand by choosing new voice acting talent for tv and radio advertisements.
- Renovate collateral items. If you are changing signature colors and logos, you may need to renovate other collateral to match. Websites, product packaging, and even the design of brick-and-mortar store locations should reflect rebranding efforts for the sake of consistency.
No matter what strategies you intend to employ, you ought to make sure you have skilled professionals and experts on your team to help navigate the ins and outs of a successful rebrand launch.
Taking a Lesson from Polaroid
Founded in 1937, Polaroid became a photography industry leader with the creation of a new instant photography system. However, with the dawn of the digital age, digital photography brands like Kodak, Cannon, and Nikon began to crush the company. Polaroid Corporation even filed for bankruptcy twice, once in 2001, and again in 2009, following years of crippling debt.
Today Polaroid has reinvented itself into a pop cultural icon. According to the Company’s CEO, Oskar Smolokowski, the company plans to stick to its core values of “empowering creators and making moments.” These are the ideals that kept the company relevant for more than 80 years. This is the power of thoughtful rebranding.
Contact JBC for All Your Branding or Rebranding Needs
If you are looking for a team of experts to assist you in successfully rebranding your business, contact JBC for a consultation. We have more than 25 years of experience helping brands develop and implement strategies that engage the public and make brand owners proud. Schedule your free consultation today!