How To Rebrand Without Losing A Single Customer
Companies who prioritize design and branding outperform the S&P 500 index by 219%.
For business owners, the word “rebrand” is met with mixed emotions.
For many, it can be an intimidating process where they fear losing existing customers due to brand confusion. For others, it can be an exciting opportunity to explore a new visual identity and update old messaging.
Your brand is the most important component of your business, and changing that up is difficult. Especially when what you have now is still technically working.
We also know rebranding keeps your business relevant and is an important investment for long-term growth.
Here’s how to rebrand without losing a single customer.
What Is Rebranding?
To know what rebranding is, you must first know what branding is.
Branding isn’t just a logo and a website. Those are the visual aspects, but a brand is so much more.
Branding is what others think of you and is the process of:
- Creating a unique and recognizable identity,
- Establishing a positive reputation,
- Effectively communicating your values, products and services to a target audience.
Therefore, Rebranding is the process of changing the visual identity (logo, colors, website, etc.), business name and core messaging to better align with the company’s goals and values.
Your brand is the most important long-term investment for your business.
Rebranding Is Time-Consuming & Totally Worth It.
We know what you’re thinking:
“Do I really have to??”
“We definitely don’t have time for that!“
or
“We “just” rebranded 10 years ago.”
Rebranding can be a daunting task for any business, but staying relevant and competitive in today’s fast-paced market is also necessary. Even global brands like McDonald’s, Instagram and Mastercard undergo major rebranding campaigns.
6 Powerful Ways Rebranding Impacts A Business.
Investing in a rebrand breathes new life into a business.
When executed effectively, a rebrand can have a powerful impact on a business.
Here are some main ways rebranding has an effect.
1. A Rebrand Catalyzes Business Growth & Expansion.
According to a Design Management Institute (DMI) study, businesses prioritizing design and branding outperform the S&P 500 index by 219%. Rebranding efforts can increase revenue and market share.
2. New Branding Changes How A Company Is Perceived By A Target Audience.
It allows you to address outdated perceptions and present a fresh, modern image. A rebrand can position the business as relevant, innovative, and forward-thinking by aligning the brand with current market trends and customer expectations.
3. A Rebrand Attracts New Customers.
A fresh look and messaging generate curiosity and interest, drawing in a wider audience. It allows the business to stand out from competitors and differentiate itself in the market, potentially expanding its customer base.
4. Existing Customers Get Excited About Rebrands, Too.
A company can re-engage its current customer base, renewing their interest and loyalty. Bonus points if you include your customers in the process! This demonstrates that the business is evolving and committed to meeting customers’ changing needs, fostering trust and continuing a partnership.
5. Employee Engagement Improves When The Rebrand Process Is Inclusive.
A rebrand can also have a positive impact internally. Working for a company that’s evolving and adapting instills pride and excitement in employees. Remember that rebranding is a verb. It’s a process your team should be a part of. Employees should be involved in reclarifying mission, values, visual identity, and overall direction.
6. Rebrands Help Restore Reputation And Overcome Crisis.
Rebranding can be a strategic move to manage a company’s reputation and overcome a crisis. A fresh start refocuses attention on the company’s future potential.
A great example is how Volkswagen rebranded in 2019 in response to their 2015 emissions scandal that cost them their reputation (not to mention billions and billions of dollars). Read more rebranding reputation reversal stories here.
When Is It The Right Time? Successful Companies Rebrand Before Their Brand Gets Stale.
Dunkin Donuts is a great example of a company that read the room and made a big change at the right time. In 2019, they underwent a complete rebrand and officially changed their name to Dunkin.
It was a big step in the company’s journey to transform into a beverage-led, on-the-go brand rather than a sweet treat shop. In a coffee-obsessed, health-conscious culture, this shift keeps their brand relevant in the marketplace, changing the perception that they just sell donuts.
If your branding doesn’t reflect who your company is or where it’s going, and you have that gut feeling that it’s time–trust your gut.
The bottom line is that your brand should match who you are and where you want to be, and if it doesn’t, it’s time for a rebrand.
If your branding doesn’t reflect who your company is or where it’s going, and you have that gut feeling that it’s time–trust your gut.”
Vada Kelley, Founding Owner, Estland
It May Be Time To Rebrand If…
Here are some common signs it’s time for a rebrand:
Your Brand No Longer Reflects Your Business’s Values or Goals.
It may be time to rebrand if your business has evolved and your brand no longer reflects your current mission or values. When your messaging and services aren’t aligned, your audience can tell, and it feels off for everyone.
Your Visual Identity Is Old.
We’ve established that the brand is bigger than logos and colors, but first impressions matter. If your brand looks dated compared to your competitors or no longer resonates with your target audience, it may be time to rebrand.
Your Business Has Undergone A Major Change.
If your business has undergone a major change, such as a merger or acquisition, it may be time to rebrand to reflect the company’s new direction.
Your Brand Has Negative Associations.
Suppose your brand conjures negative associations, such as a bad reputation or negative reviews. In that case, it may be time to rebrand to distance the business from those negative associations.
Your Target Audience Has Shifted.
If your target audience has shifted, such as in the case of a new product or service offering, it may be time to rebrand to better align with the new audience.
How To Approach A Rebrand Project Without Losing Customers.
Whatever the reason to rebrand, do it with purpose and do it correctly.
Remember: your brand is the most important long-term investment for your business, and it can pay the highest dividends.
1. Define Your Goals and Objectives.
Before starting a rebrand project, defining your goals and objectives is important. What do you hope to achieve with the rebrand? What are your target audience’s preferences and needs? What are your competitors doing?
2. Conduct Research.
Research your target audience, competitors and industry trends. This will help you better understand your audience and determine how to differentiate your brand from your competitors.
3. Develop A Brand Strategy.
Develop a new brand strategy that includes your brand’s positioning, messaging and visual identity. This strategy should align with your business’s mission and values and resonate with your target audience.
4. Develop A Visual Identity.
Develop a new visual identity that includes your logo, color palette, typography and other visual elements to differentiate your brand from competitors. Don’t shy with color–colorful visuals increase people’s willingness to read content by 80%. Don’t forget to include employees and engage customers during this step!
5. Implement The Rebrand.
Implement the rebrand across all touchpoints, including your website, social media, marketing materials, merchandise and physical spaces. Train your employees on all aspects of who you are and who you will be–they are your best brand ambassadors.
6. Publicize Your Rebrand.
Communicate the rebrand to your customers and stakeholders to ensure a smooth transition. Use press releases, newsletters, advertisements and media contacts to communicate with your customers and the general public
Marketing Professionals Provide Objective Expertise In The Rebranding Process.
Overseeing a rebrand is challenging, even if you have a well-resourced in-house marketing team. Expecting employees to lead a rebrand on top of their daily responsibilities is a big ask.
That’s why hiring a local marketing firm is critical. A marketing firm provides you with a team of experts who specialize in branding and will create a cohesive brand that lasts. A firm remains objective, whereas internal teams may harbor emotions about the current branding. Having experience in strategy, research, implementation and communication will also help mitigate the risks of confusing or losing customers.
Estland has worked with us to provide company branding, photography, an attractive and user-friendly website, graphic design for print materials, and google analytics reports. While they provide a full line of services, they also train our staff for services we would like to take in-house. Their professional expertise and service have been an excellent fit for us, and we highly recommend them for your marketing and web design needs.”
Jonathan Miller, Sunrise Farms
Businesses Trust Estland With Professional Branding.
Estland treats brands with care. We don’t deliver cookie-cutter brand solutions. We discover the heart of your business, not just what you do but why you do it.
We offer various services that help tell your brand story, including messaging guides, logo design, websites and more. Contact us today to start sharing your brand with confidence.
