Are you thinking of rebranding your company? I know there can be several reasons for which you can think of rebranding your company, such as, since you have started your business, it has evolved, and now you want to reflect your growth through branding.
It also can be because your brand no longer relates with your consumers, so you feel like a fresh start is what you need. Or maybe you have decided to completely evolve your business model, and in order to match your approach, you want an updated look.
5 Digital Rebranding Questions To Ask Yourself Before You Go For One
But before you start digital rebranding for your business, there are certain questions that you should ask yourself. Here, I will tell you about 5 digital rebranding questions to ask yourself before you go for one. In case you are confused, take help from a branding and marketing company.
Why Am I Rebranding?
It is really important to know who or what you are rebranding. Whether you are rebranding for a new audience, or for any new services, or you only want to keep everything up with time. Evolving your branding in order to try and gain a new market can really be risky.
But in case the market is clear, you are not at all closer to a successful and effective rebranding strategy. But you need to be careful that you are not alienating your existing target market unless it is your goal. So, first, get an idea about your why and start from there.
What Could You Lose?
You also need to think about whether a digital rebranding will risk the brand equity that you have built over all these years or not. In case the changes that you are planning to make are drastic, you also think if your customers will embrace them or not.
Is the potential of gaining new customers enough to bring your current customer base to risk? If it is not, then what? You also need to think if it is possible that polishing your current brand element will give you the best of both old and new.
What Do My Customers Want?
The fact that companies strongly feel that they know exactly what their consumers are willing to hear and see in their brand is really common. But in actuality, guessing what your customers want can be really dangerous and also lead to incorrect assumptions.
Every rebrand must contain a structured discovery process, which includes customer interviews for eliminating all those guessing games. In addition to this, internal interviews are also crucial for bringing the whole company together in a single message.
Are We Ready To Do This?
During the time when sales are flat, the reputation of the company has been discolored, or the focus of the company has been changed, rebranding is a great idea. But you also need to keep in mind that a new brand is a new promise.
A true rebrand always needs commitment from its employees at each level to truly support the revised position. Many times, companies waste their money and time rebranding just to do things the same way. It is better to save money if you are not changing anything.
Do I have The Budget?
Companies also rebrand most of the time; they have become tired or have a shiny, new positioning to push out. In case you have a mass audience, there is another crucial question that you need to ask is, have you had enough budget to make an impact?
You can not go out in public with your brand half-naked. When you have an established brand and also wish to change the minds of your targets, you must invest more in every column possible.
So, these are the 5 questions that you need to ask yourself before you are going for the digital rebranding of your company. There is another thing that you need to keep in mind, and that is how your new branding will impact your existing customers apart from the new ones.