Informed i’s Weekly Business Insights
Extractive summaries and key takeaways from the articles carefully curated from TOP TEN BUSINESS MAGAZINES to promote informed business decision-making | Since 2017 | Week 375, November 15-21, 2024 | Archive
How to Refresh Your Brand With Purpose and Precision
By Brendan Sevack | Inc Magazine | November 18, 2024
3 key takeaways from ther article
- Rebranding is not about discarding everything, but about taking stock, making purposeful changes, and positioning yourself for where you want to go next.
- Before diving into colors, logos, and messaging, the most important question to ask is: Why are you rebranding? Without a clear purpose, your rebrand can fall flat or even damage the company’s image. Some common reasons to rebrand include: Target a new audience, business evolution, Reputation management, and competition and differentiation. In any of these cases, having a clear reason for rebranding will guide your decisions and ensure you stay on track.
- Six considerations for your rebranding include: rebrand for the customers you want, don’t survey your current customers, streamline decision making by engaging a small team, keep the core values intact, make the visual elements in line with strategic intent, and the rollout: Introduce the new brand.
(Copyright lies with the publisher)
Topics: Entrepreneurship, Growth, Marketing, Branding, Rebranding
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Rebranding is not about discarding everything, but about taking stock, making purposeful changes, and positioning yourself for where you want to go next.
Before diving into colors, logos, and messaging, the most important question to ask is: Why are you rebranding? Without a clear purpose, your rebrand can fall flat or even damage the company’s image. Some common reasons to rebrand include: Target a new audience, business evolution, Reputation management, and competition and differentiation. In any of these cases, having a clear reason for rebranding will guide your decisions and ensure you stay on track. Here are six considerations for your rebranding.
- Rebrand for the customers you want. One key to rebranding success is understanding that you’re not rebranding for the customers you currently have—you’re rebranding for the customers you want. This mindset shift is crucial. If your company is starting to resonate with a specific generation or demographic, rebranding can be the perfect opportunity to refine your messaging and push toward them.
- Don’t survey your current customers. Asking current customers what they think about your rebrand can backfire, as their feedback is likely to pull you back toward what they’re already familiar with. A rebrand is often about moving forward and making changes that will appeal to a new audience or take your company in a fresh direction. So trust your vision and your market research, and focus on what will drive your business toward your future goals.
- Streamline decision making. Limit the number of decision makers involved in the rebrand. This team should include people who understand the brand, the company’s goals, and the target audience’s needs. With fewer voices at the table, you’ll have a clearer direction and a faster path to launching the new brand.
- Keep the core values intact. While rebranding is often about change, it’s essential to keep your company’s core values intact. What makes your brand unique should still shine through, even in its new form. The trick is to refresh your image without losing the essence of what has made your business successful. So that your rebrand feels like a natural evolution, not a complete departure.
- The visual elements. The visuals should be a reflection of your rebrand’s strategic goals. That said, it’s important to ensure that your new visuals communicate your company’s new direction and resonate with your target audience. Keep the design consistent with the message you want to convey.
- The rollout: Introduce the new brand. Once the hard work is done and your new brand is ready to go, it’s time to plan your rollout. A successful rebrand doesn’t happen overnight; it requires careful planning and communication with your audience. Consider creating a timeline that allows for a gradual transition, easing customers into the new look and feel.
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