Tips for Marketing Executives and VPs

The Dos and Don'ts of a Rebranding in 2023-24

What is rebranding?

Rebranding a business is a whole range of works that change the external image, create new services, affect internal business processes: mission, ideology of the company, structure, philosophy, and positioning.
What a rebrand brings:
- enhances the uniqueness of the corporate identity
- helps to attract a new target audience
- helps to raise the brand awareness

The DOs of how to rebrand your business:

  • DO an analysis.
To always be in demand, you need to analyze your rivals who have stronger positions. It is important to develop a new development brand strategy and come up with something that will clearly distinguish you from others.

  • DO brand consistency.
If all the brand materials (website, social media, ads, polygraphy, etc.) are scattered, they do not have a single style, and concept customers do not have a single brand image in their head. To improve the brand awareness, you need to have consistent design materials in all the communication channels.

  • DO reformulation.
If you have changed the brand vision, quality properties of your products or services, it's time to rebrand.

  • DO meet the market conditions.
Market conditions are changing. Every market player must have time to adapt to the new fashion trend. If your company image has stopped meeting market conditions, it's time for a company rebrand or time to to rebrand products.

  • DO scope of the new sphere.
Development leads to an increase in the services provided. It is necessary in order to attract a large number of consumers. It also includes the moment when the company completely changed its field of activity.

The DON’Ts of rebranding a business:

  • DON’T focus your rebranding on simply re-designing
A serious company rebrand is dictated by specific strategic intentions and fundamental changes in business.

  • DON’T use your competition as the focus of your rebranding strategy
Don't let competition influence your decisions. Focus on your business and do what is best for it. It is important to consider what makes the most sense in terms of your products and services and what attracts your customers.

  • DON’T forget to interview your customers
Make sure that customers understand your rebranding decision. A rebranding example could be conducting testing (promotions) and monitor the audience's reaction. Remember that it is easier to retain customers than to attract new ones.

  • DON’T forget about the internal environment.
It is necessary to devote time and effort not only to the packaging, but also to the internal structure. For example: to invest millions to improving and rebranding the product, but not to conduct training for employees.

  • DON’T Forget to Establish Brand Metrics
Do not forget to track the effectiveness of the rebranding strategy. Pay attention to how the main indications of the company's activities have changed after the changes and adjust your direction.
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