Rebranding a business is a risky process, but one that could truly transform your brand. Some struggling business owners might think that they do not have anything to lose by rebranding; however, the process is not a straightforward one and requires planning and careful consideration. Here are some tips for making your rebrand work.
When and why to rebrand a business
A business might consider rebranding if customers are turned off or unresponsive to its existing brand. Although they may be itching to make some changes at the first sign of trouble and financial loss, business owners should know that rebranding is not necessarily the answer to their problems. It is only advised to go through the rebranding process if all other attempts to push the business forward have been tried and failed.
Where to start
Before you do anything, you should make sure that you have thoroughly researched your market. The last thing you want to do is to jump in too quickly and then want to change things around again. Start by listening to your audience’s needs, your team’s opinion and looking at competitors – and never, ever forget to liaise with all stakeholders before making any final decisions.
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Documenting the changes
As with most professional matters, it is often wise to put things down in writing. By documenting any plans, in addition to the changes as they take place, you are creating an administrative trail that can be analysed and evaluated both now and in the future. This also acts as a written record of decisions made, ensuring that stakeholders or staff cannot go back on their word later down the line.
Have confidence in your brand
Once you have recreated your brand, it is very important that you are happy with it and confident in its ability to bring success to your product or service. The process will not always be smooth, and you will probably be asked lots of questions about the rebrand and have to defend every decision made; however, as long as you love your brand, your audience should also love it.