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CEOWORLD magazine - Latest - Education and Career - Rising to the Challenge: How to Revitalize Your Company’s Brand

Education and Career

Rising to the Challenge: How to Revitalize Your Company’s Brand

Times change and brands must change with them. There’s a number of reasons why companies rebrand. Mergers and acquisition can mean a new direction for a company. Legal problems, negative publicity, or a problem inside the company may require a change in the image. Companies may rebrand to recapture their audience or stay in the game with a competitor.

Rebranding doesn’t have to be a dirty word, either — there are good reasons to change up your image that have nothing to do with addressing a problem. Maybe you’re trying to attract a new demographic, or a new product has changed the direction of your company. Maybe your growth into an international business means your image needs to “level up.”

Whatever your reasons for doing it, rebranding works best when you have a plan and concrete steps to follow.

Know Your Goals

What’s the best way to make sure your rebranding is successful? Know what you plan to do, and why. A catching new logo design is great, but it isn’t enough by itself. The best approach is to take a look at your core company valuesimprove and decide how you want to communicate them to the public. This involves taking a good, hard look at your “old” brand and what it said about you. How has your product, service, or work changed? What do you want to say to your customers, clients, stakeholders, now and in the future?

Identify Your Market

If you’re rebranding to appeal to a broader, newer, or different audience, you’ll also benefit from taking the time to think about your target market. Who are the people for whom you’re rebranding? Does your brand identity fit the values and desires of that market? Dig into the specifics. A simple age and gender demographic isn’t enough — you’ll need to appeal to culture, political leanings, and social standing. Knowing your audience is critical to building a brand that will stay relevant as long as possible.

Level Up Your Customer Service

One of the timeless principles of managing your company, especially when rebranding: customer service is king. Why? Because, it’s statistically less expensive to retain customers than to get new ones, for one thing. Happy customers spread word of mouth and improves employee turnover.

Whether you revitalize your customer service game with training, fresh new methods, or retail solution software, a commitment to improved customer service should be a core part of your rebranding plan.

Keep Lines of Communication Open

Rebranding can be an ambitious and complicated affair with a lot of moving parts. Whether you’re a tiny startup or a well-established company, it’s essential to stay transparent and keep everyone informed. A brand revitalization means everyone needs to stay focused on the final goal and work together to make sure the group effort pays off. Don’t be afraid to use every tool at your disposal, from retail communication software to company retreats, to get your message across to employees. Having everyone on board is key to a successful rebranding.

Update Your Look

Chances are, once you’ve decided on your core values and new goals, you’ll want a new look to communicate those changes to the public. A visually consistent look and feel is a vital part of a new (or improved) brand. It makes good sense to work with a designer to pick the right font and color palette for your company, as well as photographic imagery.

Revamp Your Social Media

So you’ve re-evaluated your approach, zeroed in on your target market, and freshened up your look. What’s left? Communicating those changes to the public. This is a perfect time to step up your social media game. Maybe it’s time to hire a social media manager (if you don’t have one already), or use social media software to grow and expand your reach. Engaging with authenticity will be vital when rolling out your new brand, so plan your social media presence carefully.

Inspire Yourself and Others

Rebranding can be a lot of hard work, especially when it comes after a crisis or a misstep. That’s why it’s important to approach the subject with verve, leadership, and genuine enthusiasm. When everyone on your team feels the excitement of rebranding, the change will feel real. Rebranding is an exercise in redefining success — so approach it on your terms with positive energy, and you’re halfway there.

Have you read?

Why a CEO Should be the Storyteller in Chief By Chuck Kent.
The Power of Community — How Phenomenal Leaders Inspire Their Teams, WOW Their Customers, and Make Bigger Profits By Howard Partridge.
What happens when you lead others by serving them BY Roy Osing.
Keys to Building a Customer Centric Advantage BY Susan Solovic.
Marketing The Olympics VS. The Super Bowl: Some Key Differences BY Michael Czinkota, professor at McDonough School Of Business.

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CEOWORLD magazine - Latest - Education and Career - Rising to the Challenge: How to Revitalize Your Company’s Brand
Boris Dzhingarov
Boris Dzhingarov, founder of Cryptoext, graduated from the University of National and World Economy (UNWE) in Sofia, Bulgaria with a Bachelor's degree in marketing.