The branding of your business includes all logos, statements, words, phrases, and imagery that is specifically associated with and unique to your business. Successful branding is key to any successful business. Without original branding, your business won’t be recognizable to potential customers, which makes it difficult for you to draw in customers and make a profit from selling your products or services. This is one reason you may choose to rebrand your business.
Businesses rebrand for many reasons. Some businesses—especially smaller, less well-established businesses—that originally developed weaker branding rebrand to create stronger, more original branding that will improve the visibility of their business. Other larger businesses rebrand for ethical reasons or based on widespread criticism from their customer base.
For example, major syrup and pancake brand Aunt Jemima recently announced that they plan to rebrand this year in order to remove elements of their original branding that are rooted in harmful racial stereotypes. Aunt Jemima plans to change their name and remove the recognizable image of an older Black woman—which has been criticized as playing into racist minstrel-like stereotypes reminiscent of the “mammy” caricature—from their products this year.
There are many different reasons to rebrand, but rebranding is always scary. Stripping your business of its original branding and replacing it with all-new branding is risky, but it can also pay off very well in the long run if the new branding you choose is ultimately more successful at promoting your products or services. We recently spoke about Aunt Jemima and rebranding in a podcast episode that you can listen to.
If you’re looking to rebrand your business in 2020, keep reading to learn how to rebrand in ways that benefit your business and boost your visibility and profits in the long term.
Consider Partial Rebranding
If you’ve decided to rebrand your business, that doesn’t mean you have to strip your business of all of the elements that originally defined it. In fact, this type of total rebranding is often not the most profitable option—especially for smaller businesses.
Instead, you might want to consider partial rebranding. Partial rebranding involves editing and refreshing the imagery and elements that are associated with your business without completely changing them. Partial rebranding is great for businesses with outdated or out-of-fashion logos. It is also a good idea for businesses that are still in the process of establishing themselves and don’t want to confuse and lose their entire unstable customer base by fully rebranding.
Partial rebranding is not as risky as full rebranding, but it also doesn’t give you as much freedom to completely rebrand your business. As such, it is generally an effective strategy only when there are no major flaws in your business’s branding and your branding only requires a slight refresh in order to successfully re-enter the market.
Identify Your Target Market
Rebranding is the perfect time to consider your business’s target market. Who do you want to be attracted to your business’s branding? What kind of customers do you want to draw into your business with your logo?
Identifying and considering your business’s target market helps you identify the most effective goals to set when rebranding your business. Rebranding your business is a great opportunity to cater your branding more specifically to your target market, but it’s important to identify that target market and get to know their needs and desires better before jumping into the rebranding process.
Stick With Your Mission
No business is complete without a mission statement. In fact, creating a mission statement for your business is one of the first steps to building a successful business in the first place.
If you’re not sure where to start with the process of rebranding, start with your business’s mission statement. Look it over with a critical eye and make necessary edits in areas where your mission statement no longer aligns with the values and vision you want your business to uphold.
Once you have refreshed your business’s mission statement, that mission statement should act as the foundation for the rebranding of your business. Whenever you feel stuck or overwhelmed when rebranding your business, consider whether what you’re creating aligns with your business’s refreshed mission statement. If it does, you’re probably going in the right direction. If it doesn’t, it’s time to take a step back and reassess.
Rebranding your business can be a daunting process. However, it doesn’t have to be so stressful. If you’re in the process of rebranding your business or are considering rebranding, use these tips to get yourself headed in the right direction to successfully rebrand your business, boost your customer base, and increase your profits.
Contact us for more info on what you should do when it comes to rebranding your business.