As we move forward with business, look at our projected and actual numbers every month and determine the landscape, we might be asking ourselves, could my brand identity be stronger? Likely the answer is a resounding 'YES'.
If you have changed any component of your business, this is the time to share that news. You can do this in a multitude of ways such as rebranding, a brand refresh or a pivot. You might think, what's the difference? Or maybe, how do I know which one I'm supposed to be doing?
In this three-part series, I'll be defining what each one means to help you understand which you need or are doing.
WHY DO I NEED TO KNOW?
If you're wondering how any of this is important, just look at some big brands that have changed their messaging and branding. Whether it was the right choice or the wrong choice is another article, but these are all companies that made some massive changes. Consider such powerhouses as Ralph Lauren, Sears & Roebuck, The Gap, or even Ann Taylor in the 1980's versus Ann Taylor now.
BRAND DNA
Knowing your Brand DNA gives you that foundation you need for when things change. As you consider whether it's a rebrand, brand refresh or pivot, it's important to revisit where you started so you know where you're going.
REBRANDING EXAMPLE
Here is a rebranding example for a company that didn't know what they needed when we first started working together.
This business owner told me that their last company failed, so they needed a new mission, vision and value statement. They were unclear why their business failed, only that their messaging was off-target for their audience, but they didn't know how to change. I asked if they had their Brand DNA for the last incarnation or for this new company, but they hadn't heard of the Brand DNA concept.
Having one failed company and a tight budget, we determined that what they were needing was a rebranding strategy because, while the product was the same, the company name was changing as was the brand story and messaging. The product was great, but competition was fierce. The problem was laying the foundation for this new brand story. As we dug deeper, they realized they had no idea how to tell their brand story to differentiate themselves from their competition.
I decided that the best way for them to achieve their goals was to chunk down the rebranding process. This is something you can do too - you don't need to do everything at once if the budget doesn't allow.
REBRANDING DEFINTION
So, how do you know if your company needs to be rebranded? You need a rebrand if you are:
Changing your company name;
Changing your logo or brand colors;
Changing your tagline;
Changing your core values;
Changing your brand story.
If you're reading this and agreeing to any of those components, then you're wanting, needing or doing a company rebranding.
HOW TO REBRAND A COMPANY
The first step that I would do is to write down as much as you can about the Brand DNA of your new or existing company. Once that's done, it's easier to see the holes, discover the voice and determine which steps are the most important to do first. Refer back to the list above.
It's best to ask the advice of an expert for guidance in how to rebrand and structure your rebranding strategy. Oftentimes, during the rebranding process, you will want to change things as you go along. This validates why it can be a good idea to chunk it down into smaller projects.
After reading this short explanation and example, I hope it helps you understand what rebranding means and how to move forward with your business dreams and goals.
Look out for my other articles called "What is a brand refresh?" and "What does it mean to pivot your business?".
Until next time,
Keverne Denahan
Luxury Copywriter & Brand Expert
Copyright © Keverne Denahan 2021