Having a good brand image is one of the most important aspects of running a successful business. In fact, ad spending, which is the primary method used to build a positive brand image, is set to reach almost 17 billion dollars in Australia in 2019. With that being said, every once in a while companies tend to run into many different issues that force them to consider rebranding.
Whether it’s because they are branching into a new market or are facing a bad reputation history, rebranding can be a really useful tool to get your business a fresh start and increase people's awareness of it. So, in order to help you make this process as simple as possible, today we are going to take look at a five-step guide to rebranding.
1. Define your vision
The first step to a successful rebranding of your business is making sure you defined and articulated your business’s new goals, values and most importantly, vision. Well-thought-out and defined goals and values are at the core of every long-lasting business and should be there to give you something to strive for and turn to when rebranding your business. Additionally, your vision will also help you stand out, and give your customers what they want the most in today's world, and that is to know that they aren’t only seen as a way for you to make a profit.
2. Look at what you currently have
After you’ve envisioned the new pathway for your business, you should look at it in its current state in order to see which parts of it you can keep. Even though you may want to completely change the ways in which your business operates, some parts of it don’t need to be completely removed as they could be built on to achieve what you want. This will allow you to save money but also to keep the positive aspects of your previous brand.
3. Analyse your environment
Rebranding is a process that should also take into account the general trends and values of your surroundings. So, the next step is to survey your environment and see what people are into and what has worked for other businesses. This can, however, be a long and daunting task which is why it can be a good idea to seek aid from a professional digital agency from Sydney or other major cities to give the information you need and point you in the right direction when rebranding your business. Once you have the information you need and the general understanding of your environment, try to implement it into your new brand but at the same time try staying true to your vision.
4. Collaborate with your team
Once you’ve gathered everything, it’s time to create a cohesive step-by-step plan of how you are going to make your rebranding come to life. By far, the most important place to start is with your employees. Explain to them the changes that you have in mind and hear out their ideas on how you can go about turning them into reality. Rebranding can represent a great opportunity to foster your team spirit and cooperation. All elements of your business can lend a hand and at the end of the day, everyone will feel as if though they’ve contributed to your new and improved business.
5. Spread the word
Finally, once you’ve implemented the changes of your rebranding process into your business, it’s time to spread the word about the changes you’ve made. This is where a good marketing strategy that will promote all of the new improved aspects of your business is going to be crucial. Make sure you include multiple marketing channels especially social media where the word about your new brand will be able to spread quickly and organically.
Rebranding can represent a great opportunity for your business to get a fresh start and get an attention boost. With that being said, even though it can be expensive, it’s also important to keep in mind that the process of rebranding can also have many positive effects within your business as well, which will improve it and give it the ability to live up to the new brand you’ve created.
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