Content

• Steps

Rebranding a company usually involves changing the logo, image, and mission of the company. The goals of rebranding can be different, but most often companies do it to restore a damaged image, update an outdated image, or restore their business after a merger or bankruptcy.

Steps

1. 1 Decide what exactly you want to rebrand your company for.
   • There are several reasons why companies decide to change their image. For example, firms that have been existing and operating on the market for a long time can change their image in order to become more relevant and attractive to the modern consumer. Rebranding is an excellent way to restore a damaged image due to various scandals, for example, due to low-quality products, due to internal conflicts between employees, due to conflicts between managers, etc.
   • Your company may also decide to take this step out of a desire to stand out from the competition. Many companies go through rebranding after mergers or reorganizations due to bankruptcy.
2. 2 Review all the changes you need to make. This process may require an in-depth study of the company at all its levels in order to determine exactly what changes your company needs.
   • Interview employees to collect their opinions and ideas about changes that could bring great benefits to the company in the future. The information you receive can tell you a lot about how ready your people are for a change of image.
   • Select employees to be part of the rebranding team. Engaging employees early in the change will help the rebranding process flow smoothly in the team, as employees will have a stake in the results from the outset.
   • Ask customers for feedback on the work of your company or your products. Let them tell you what plays in your favor, and what spoils the image or does not affect it at all, and, therefore, does not affect the success of your company.
   • Have the marketing department conduct research using surveys or focus groups to get feedback on specific products or services, as well as on the overall performance of the company. Marketing research can also give your company fresh thoughts and ideas on how to attract new customers or enter a market that you haven't worked in before. In addition, this form of research can give you a better understanding of customers buying competitors' products.
3. 3 Decide to what extent you want to change the company.
   • Partial rebranding can be as simple as making simple changes. For example, light changes in the logo to keep it recognizable for regular customers, but also to attract new ones with the changes made. It may also require a change in just one specific product in order to enter the premium markets with it. Many companies choose this path after a merger or bankruptcy.
   • The complete rebranding includes major changes in the company name, logo, public image to completely move away from the old brand. This type of rebranding can also include changes in the processes and operations carried out within the company to match the new mission established during the brand change. A complete brand change usually ends with a large event at which the updated brand is introduced to the public.
4. 4 Estimate the costs of brand renewal and identify the team that will be responsible for the process.
   • Write down the calculated costs for each item in the rebranding process and the area of ​​responsibility of each team member. This will help your project stay on budget and keep team members on top of what's working and what's not, so you can make the right changes on time.
5. 5 Redefine the company's mission statement to match the new brand and image.
6. 6 Change the company name.
   • If necessary, report the changes to your local or state government. You may need to pay any government fees.
7. 7 Update your company logo.
   • Work with your company's designers or hire them from outside. The creation of a new logo involves a detailed discussion of the appearance. You can test the new logo on clients, consumers, employees before agreeing on the final version. Once you decide on a new name and logo, you will need to update all banners, business cards and letterheads, product packaging and the company's website.
8. 8 Create a marketing plan.
   • Organize a press release and advertising campaign to introduce the new look and name of your firm to customers, consumers and competitors. The marketing department should develop a schedule so that it is clearly visible and understandable when what event will occur.
9. 9 Test your changes before final launch.
   • Engage your marketing team to test the changes you made during the render.Let them interview customers, employees, consumers, focus groups. This step will allow you to make final logo changes or reorganize your product line before the final launch of your new brand.
10. 10 Finally, you can present your new brand to the public. Bring it to the market.
    • Bringing a renewed brand to market may require one big event involving the general public. A series of events may be required. Their goal is to present our new image, name, product line to their regular and potential customers.