Steps to follow when Re-branding Your Business To Reach Into A New Market

There could be any number of reasons that drives different companies to re-brand. More often than not, the primary reason is to engage with a new audience in a previously untapped market; whether regionally or globally.  Perhaps it’s because the image of their business is stale and quite noticeably from an older era. The clear benefits of increased growth in size and scale, reach to a new consumer base, or a general shift in the direction of the company are too hard to ignore.

Why re-brand?

The main reason businesses find, it’s not that they’ve changed, but the world has changed. Your first step is to identify the problem, if you don’t know what you’re fighting, your plan of action is like walking against a hurricane wind. Most likely, the audience mood has shifted. The most common reasons for this is the millennial generation weren’t brought up with your product in their childhood. The other is, the competition might have stiffened.

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How to go about it

Find out what resonates with the public about your brand. Then make a human interest story that revolves around the reasons the public have communicated to you. For example, Subway’s Jared campaign was about an overweight man with health problems, who was addicted to fast food, at nothing but Subway food for a few months and lost an incredible amount of weight. Additionally, seek advice from a professional like Cefar Marketing who can conduct research to pinpoint the key areas to focus on.

Don’t go overboard

All the while avoid changing the entirety of your image. The coloring may be changed, but a logo is a complete no-go zone. When consumers shop logos of brands they like or have had a good experience with jump out at them in the form of a visual cue. Be mindful you don’t overstep the mark by make changes that leave your business unrecognizable.

Streamlining

Evaluate what could be shortened or made ‘catchier.’ This might mean your business name be cut down in syllables thus easier to remember e.g. in 1994 FedEx, used to be known as Federal Express. After a year of research, the company found that there were simply too many businesses with those words in their company name or motto. It was decided the following year to change the logo and name to what you know it as now, and it stuck with the consumer market ever since.

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Quirky ad campaign

By bringing your company mascot to life, you create a character which can relate to people. A broad image might seem like it appeals to all comers, but personalizing your brand into one focal point, like an interesting character or story line in the form of an ad campaign, sticks better with consumers. Who remembers the Cadbury, gorilla drummer?

Tracking

During this period of uncertainty, you must be checking the impact of your re-branding around the clock; preferably every hour. Compare the number of online sales, visits to your website, views of your ad campaign, the user left reviews, shares, likes and comments on social media and even the results of face-to-face questionnaires your team has done on the high street. If something isn’t working, don’t pull the plug immediately, leave a day or two for it to ferment in people’s minds. If the negatives haven’t changed, revert to the original as soon as you can to cushion the loss of traffic or profit to your business.