Marketing Strategy Examples: Rebranding your Small Business
As part of the Marketing Strategies examples in this blog, branding is one of the most critical components of your company. Correct branding will take you very far if you know what you are doing.
Brand identity is a vital part of any company, and having quality branding will work to increase visibility. It can also increase sales and set your name in the business world. Changing your company's branding may sound exhausting, and we are not demeriting the fact that it is, but if you know the process and hire the right people, this marketing strategy example will feel like a breeze.
First, we need to establish that rebranding is common. Many companies have done it successfully in the past. But it also presents a considerable risk. A minimalist logo will take you the whole nine yards, but if your webpage does not follow the logo, the rebranding might fail. So it is imperative to create a plan to help you decide which changes will work and which are better to be left out.
Second, we need to define why you want to take a path that will lead to rebranding. Most of the reasons may not be adequate for this scenario. If your sales have been low, you should reconsider a new marketing strategy or conduct market research to identify factors that could lead to low business capital instead of trying one of these marketing strategy examples.
On the other hand, if you want to have a new philosophy, like going eco-friendly, or you were involved in a merger or acquisition, then rebranding is right for you. Once you are sure your business needs a new public face, you must choose which type of rebranding you need, partial or total.
Partial and Total Rebranding
It is vital to consider that the more established your company is, the more you will have to lose from a rebrand. If you have a business that has been going on for years and has a solid income, a partial rebrand will help you maintain the loyalty you've already built while refreshing your image.
A partial rebrand is an adjustment focused on your visual identity. While with a total rebrand, everything is on the table. Take a look at Discord. Discord is a brand dedicated to gamers worldwide in which they can communicate through text and voice channels in a specified server. A few years ago, they decided to go for a partial rebranding. While most of the old users did not agree with the new logo, which only rounded its corners, most of those users still logged into their servers because the emblem was targeting new clients. This partial rebranding helped them obtain more users in a few months while maintaining most of its regular users.
On the other side of the spectrum are total rebrands, which can be quite challenging for any enterprise but have been quite common since the dawning of the digital age. To maintain the videogame reference, we will take a look at Nintendo. If you have yet to hear of video games, Nintendo might be the name you have listened to the most. But Nintendo started as a card company, which is quite different from what they are now. During the 70's and 80s, the videogame behemoth rebranded all of its products to match its main character, Mario. This rebranding gave them an international identity that would later be a common household name worldwide.
Marketing Strategy Examples: Rebranding Process
In the bullet points below, you will find how to rebrand a company. The steps below are part of a much bigger rebranding plan. You need to consider many factors before rebranding, like finances, target audiences, customer satisfaction, and employee retention. If you find yourself needing more time or money to rebrand your business, a virtual assistant can help you create a marketing strategy that can allow you to maintain your current company's personality.
1. Reestablish your brand's audience and marketing
Take a look at your buyer persona and who they are buying instead of you. Comparing this result against your initial targeting may reveal some stark differences, which you can take advantage of.
2. Redefine your company's vision, mission, and values
Vision will affect everything from your website redesign to your hiring process.
When your mission changes, your messaging needs to change as well.
Your values will act as the "why" behind your brand. They're there to remind you of why you are working towards your vision.
3. Renaming your Company
While renaming your company is against any recommendation, it sometimes is a necessary step when performing a total rebranding. So if you're renaming the company, keep in mind to have a plan for recovery as part of your post-rebrand strategy.
4. Reconsider your brand's slogan
A good slogan must be catchy, capturing your company's mission and vision. Unlike changing names, changing a motto comes a little easier, but you have to think about a better slogan than your first. And beware, you're going to hear it to the point of no return, so you should still consider it carefully.
5. Rebuild your brand Identity
Remember to stay simple in your logo
Aim for appropriate targeting campaigns
Build new brand guidelines, such as fonts, color palettes, clear space, and even unacceptable uses.
As you can see, redesigning your brand is not something to be done in one night. It takes a lot of time to start thinking about things you haven't considered, but it is a fresh start. If you are still trying to decide whether to give your company a new face and would like to try something different, you can hire a virtual marketing assistant.
Virtual marketing assistants are experts in their fields who can help any company in need of an effective marketing strategy. They possess all the necessary skills to devise attractive strategies, and their price is half that of regular employees. If you want to know more about these professionals, you can read this article.