Rebranding: The Key to Updating Your Company – Preparations and Steps
Going With the Flow
The rapid digitalization of our era is constantly bringing in new advancements. It is no wonder that products and services are often being updated to keep up with the technological flow.
Similarly, Singapore companies also have to keep themselves updated on trends and recent developments. This not only helps companies expand beyond current products or services, it also helps them to explore new markets and target specific audiences. It is hence important for companies to convey their adaptability in an effective manner and the best way of doing this is by rebranding.
Preparations for Rebranding
Rebranding can be as simple as just changing the company logo or as complicated as transforming your entire brand identity from inside-out, top to bottom. It is important that you know what direction you want to progress in before you start rebranding.
To find out what works best, make sure you consider the following:
- Core Messaging: You must know your own company’s core messaging before you can rebrand. Analyze your company deeply to understand what your company is and isn’t while determining what is working and what isn’t. Maximize your company’s strengths and bring that out in your company’s new brand and core messaging.
- Clear Purpose: There needs to be a clear reason behind the rebranding, whether it’s to shed out an old image or to stimulate growth after a period of stagnancy — it is important that you know why the company needs to rebrand and what purpose the rebranding will bring.
- Target Audience: Make sure you understand the market that you want to appeal to while still considering how to cater to your current clients. Ideally, your new brand identity should not isolate clients that you have worked with for a long time.
- Extent of Rebranding: Determine whether you need a partial rebranding, which involves aesthetic changes to brand logo and/or upscaling products and services, or a full rebranding which involves changing marketing materials, social media presence, advertisement strategies, and company policies to fit with the direction of the rebranding.
- Changes Needed: Consider the exact changes needed by obtaining valuable feedback from company members and even clients. This can be done by having your marketing team conduct surveys and brainstorming on necessary improvements. This will help you better understand what needs to be improved and how to go about doing it.
- Cost of Rebranding: Coming up with a budget plan for the rebranding will help keep things organized. It will also help make it easier to designate responsibilities to the people involved and keep track of tasks later on.
Steps in Rebranding
After you’re done with the preparations, it’s time to start the actual rebranding process.
Here are the 5 key steps:
- Refresh Your Company’s Vision Statement
It’s out with the old and in with the new. Your company’s new vision statement can be a fresher version of your old statement, or something sharper to suit the modern generation. Make sure to communicate the new vision statement effectively with company members to ensure they carry it out.
- Update Your Company’s Logo
A new company logo is the most visible way to announce to people that your company is evolving. It should be clean, simple, and effective. Make sure to work with a good designer who understands your company well and can cooperate with your marketing team to update the new logo onto all marketing materials, e.g. brochures, business cards, social media ads, reports, etc.
- Announce A New Brand Re-launch
A lot of companies now usually have a digital countdown on social media before they announce their new look to everyone. This countdown also comes with a brand re-launch event that can take place within the company itself or in an event hall where all company members and clients are invited. Some companies also take extra measures to keep the new look a surprise (even from their own employees) in order to attract people’s curiosity. A press release in conjunction with the brand re-launch event will also help to clarify things while making use of the publicity to gain as much exposure and attention as possible. Make sure to decorate the event with as much materials that contain your new company brand.
- Ensure Consistency of New Look on All Platforms
Once the new logo and mission statement has been made, it’s important to ensure that the new look is carried out across all platforms— whether its online, or on t-shirts, mugs, marketing materials, and etc. It is also important that materials containing the old brand no longer be used in order to ensure the full advantages of the rebranding.
- Market Your New Look
Once everything has been upgraded, make sure to show it off as much as you can on all subsequent company events and marketing materials. You may even consider getting advertisement or having internal company video shoots and photoshoots to market your new look to both online and offline audiences.
The Rewards You will Get
When people see a new updated look and hear an effective company statement, your brand becomes more memorable. Done properly, rebranding can also help you stand out from your competitors, give you a better edge, and lead to more sales and growth.
So make sure to reap the full rewards after rebranding and good luck!