Rebranding a company is sometimes the only option when you merge with another company or get new services. Having the right brand can make or break a business, so getting it right is important and some businesses are willing to spend thousands to rebrand successfully. When should you consider rebranding and what are the best practical tips to get you on the right path to rebrand your company correctly?
What does rebranding a company mean?
Rebranding describes the process of changing the image of a business. This can mean the changing of the organisation’s name, colours, tone of voice and business focus.
Before we look at how to rebrand your business effectively, let’s have a look at some of the reasons people decide to rebrand their company:
If your company name or slogan is too close to another trademark company, a legal case can be made against you. It can be cheaper to just rebrand rather than face legal fees.
Services have expanded
If your current company name doesn’t describe all the present services you offer, a rebrand can help inform customers about all the services you now have.
You’ve moved to another location
If your business’ name is related to a location then you will have to rebrand when you decide to move. For example, a business called “Bristol’s Best Dog Groomin’ Biz” will have to rebrand if it decides to move away from Bristol.
You’ve merged with another company
Mergers are a common reason why businesses have to rebrand. When two companies come together, there will likely be new services, new employees and a cultural change.
Businesses sometimes choose to rebrand if their name or branding is associated to a bad event or incident.
Your current brand sucks
Some companies decide to rebrand because they realise their current brand just isn’t working.
The decision to rebrand a business is no simple decision as the process can be very expensive. You should only rebrand when you know it will benefit the image of the company.
Here are some businesses who decided to rebrand:
Kentucky Fried Chicken was rebranded into KFC. This decision was made to remove the word ‘fried’ from the company’s name because it has connotations of being unhealthy.
Did you know Yahoo was originally called Jerry’s Guide to the World Wide Web? The creators of the search engine eventually changed the name into something more catchy.
Do you know what famous drink was called Brad’s Drink before it was rebranded? The answer is Pepsi-Cola. Since getting the name Pepsi-Cola, the company has rebranded many times.
Some businesses decide to rebrand because they think it will improve sales – but that doesn’t mean it will actually work.
The case of Radio Shack
Radio Shack is an Electronic Shopping Centre in America. In a bid to get more sales and engagement with customers they rebranded. But all they did was change their name to The Shack. They changed nothing else and when they realised it wasn’t working, they returned to their original name – a waste of money.
Rebranding your business is a risky business. This is why you have to think hard whether rebranding is the right option for you and if it is, what you need to do and consider to get it right!
What to do (and consider) when rebranding your company
As rebranding can be a long and expensive process, it’s important to take time to make sure you’re doing it right. A terrible rebrand can upset current employees so you need to create a culture and brand image that works for your business.
1) Inform your current customers
A brand NEW rebrand can shock and confuse customers if they didn’t know about it. If you’ve decided a rebrand is the only option for you, inform your customers by email and on your website before you start releasing new advertising or brand names. This can avoid alienating your current customers and your honesty and open communication can keep a trusted relationship.
2) Keep what works
Do you know the saying “Don’t fix, what ain’t broke,” this life lesson can be linked to your rebranding plan. Look at what currently works with your business. Customers may engage more with the font style and colours you use in your advertising, if that’s the case, keep it the same. Rebranding can be devastating to a business if they get rid of everything. Keep what works and reform the parts that need updating.
3) Market for new customers
Along with your current customers, a rebrand may open new doors for you, especially if you’re merging with another company. Consider what customers you’re marketing for now and take that into consideration during your rebrand.
4) Create brand story
For a brand to be successful they need to engage and resonate with customers. If your old brand story is still successful then you may not want to scrap it – just improve it.
5) Clear brand name
During a rebrand, your brand name needs to reflect your business and your brand’s promises. You can see from successful businesses, that a brand’s name can make or break a company.
6) Get customer feedback
You don’t want to spend thousands to rebrand your business image, to realise that people don’t connect with the new you. Contact current customers to see how they react to your new business brand, if you receive negative feedback then you need to go back to the drawing board before you decide to launch. During this process you should also get feedback from other potential customers – if you’re hoping to get new business from your rebrand, then you need to see if it works with new customers.
It’s important to get feedback from your employees. Your employees are part of your business and they need to believe and agree with your business’ value messages. They can give you helpful feedback about your rebrand – don’t ignore your employees.
7) PR Strategy
For a rebrand to be successful, PR needs to involved. Utilise different forms of advertising to spread the word about your rebrand:
- Online ads
- Social media platforms
PR can be an expensive stage of a company’s rebrand so you need to consider what are the best options for you.
8) Trademark and legal
If you’ve created a brand new name for your company, make sure you’re not conflicting with any other company because if you are then you could end up changing your name again in a few years when a legal case arrives.
Register your new brand name to keep it safe.
Creating a new brand can shift the trust, customers currently have you. They’re used to your business looking and acting differently and now you have a new name, new motto and new services. They need to be assured you’re still the same company they trusted before, but now with better and improved offerings.
With your new brand you should stay consistant in your new appearance and promises so your customers can adjust to the changes and get used to your new look.
- In 2009, Tropicana decided to change the cartons of their juice. This change undermined the trust customers had in them and they suffered a 20% loss in sales.
Rebranding a company can be a risky and expensive venture so it’s a path you should only take if you’re sure it will be beneficial to your business rather than damaging.
During a rebrand, you’ll likely want to revamp your current office space to reflect your new brand image. Have a look at our portfolio to see what companies we’ve worked with. Just Eat and Clarks are just a couple of names we’ve created luxury offices for.