Rebranding Your Company: Is it Possible After Having a Longstanding Brand Reputation?
Can there really be such a concept as rebranding? It’s a concept that a business may not prefer to have to deal with, though may be inevitable due to mergers and other business acquisitions. And while rebranding is going to be a challenge no matter how long you’ve been in business, a longstanding company will have the most work ahead. That’s because well-established brands that shift directions due to buyouts can frustrate the core customer base to a point of those customers abandoning any changes.
You’re going to need to apply balance to all of this so you don’t offend prior customers while also working toward new ones.
Reformulating Your Business Objective
Even if things will basically be the same after a business acquisition, your marketing team should still do intense research to make sure that your new brand works for your target audiences. The smallest changes can sometimes be more significant than you think and be noticed by longtime customers. It can be something as subtle as an ingredient change in a food product or a tweak in customer service procedures.
If your business hasn’t been around more than a few years, it perhaps won’t be felt as deeply as it would if you’ve been around 50 years. Regardless, studying the metrics of what people currently want in your business will be essential to retaining a loyal base. This can be done through surveys as well as studying the metrics of your online store through Google Analytics.
Creating a New Brand Identity
A prior logo you used may have to be updated to take account of your company’s rebranding process. That’s because the old logo may not line up now with what you originally stood for, despite challenges to that if it’s a logo everybody admires and remembers. Sometimes it might mean a slight redesign rather than a complete overhaul. It’s going to depend on how different the business is now from what it was.
The important thing is to use the same process you used before on your logo: Capture the complete essence of what your brand is. When working with graphic designers, it means accumulating new data that can coalesce into a logo capturing the feelings and sensory perceptions of your re-branded business.
The Marketing Process of Rebranding
In order for the marketing side to succeed, everyone involved in the rebranding process has to work together. This includes every employee being on board with the changes as well as the new leaders who were brought in during the acquisition. Any lack of morale by employees who don’t agree with the changes have to be dealt with immediately. It can also be a nightmare if the new business owners have different ideas than yours. However, that should be scoped out before the acquisition even occurs.
Your marketing will still be the same as it was when the company started. If that branding process was done decades ago, then it means learning more about online marketing and how it can set a brand impression much faster than the marketing of yore. The good news here is that you have the advantage of having a brand that already existed and hopefully had a pristine reputation. You can play that up as a lead-in to your new brand while assuring your old and new customers that your solid reputation will continue.
Selling Your Rebranding Through New Video Storytelling
An older company would benefit by embedding a video on the company website explaining the story behind your brand changes. It’s part of the storytelling process marketers are using now to bring some level of personalization. Out of all other tactics, telling customers that the rebranding process won’t mean a cold and hidden corporate environment will go a long way in sustaining customers. Being as open and transparent as possible to the new brand brings the customer in on the changes so they feel comfortable with the reasons why.