Does Your Company Need To Rebrand? Avoid These Common Rebranding Mistakes...

Every prospective client Rizzo Young Marketing LLC has encountered in some way, shape, or form needs rebranding. Either upkeep falls to the wayside or what they’re doing isn’t working. In summary, rebranding entails changing the image of your company that is presented to consumers via new logos, websites, color pallets, or slogans. It can breathe life into a struggling company if done correctly or it can drive the final nail in the coffin if done wrong.

There are several reasons why a company may need rebranding, but identifying the reason is the first step. Often, it’s low or stagnant sales, but it could be that you’re losing to a competitor, you need a modern appeal, you have no brand recognition at all, or you could be experiencing some negative press.

And if your company is not active on social media platforms, then yes; you need some rebranding. This article will walk you through the process of rebranding and how to do it right.

Meaningful Rebranding

Like we said, there’s a right and wrong way to rebrand. If you’ve identified the reason you need to rebrand then the next step should be how you’re going to fix the reason to begin with. For example, if your company’s product is doing poorly because it’s competitor’s product is more advanced, simply changing the name of your company doesn’t do anything.

You should see rebranding as a vehicle and your new product or enforced policies as the fuel. Your new logo or slogan needs to represent what it is you’re changing. A good example of bad rebranding is Radio Shack, if you can remember that far back. After struggling with low sales, they changed their name to The Shack and…that’s pretty much it.

 Radio Shack ad for "The Shack"

Radio Shack ad for "The Shack"

It didn’t address the issues that their competitors were crushing them, and they were not keeping up with consumer needs.

Research  

 The cornerstone of rebranding is research because you need to have a plan before you start making changes, that can unknowingly alienate loyal customers. A great example of good rebranding that was based off research is Old Spice, a brand that is geared towards men. After doing research they found that the people actually buying their products were women FOR men. So Old Spice made the decision to redirect their marketing and rebranding efforts towards women with their now famous “The Man Your Man Can Smell Like”. They doubled their sales from the previous year and increased their website traffic by 300%. 

Get An Outsider

It may seem counter-intuitive; no one knows your brand better than you, right? Why should you hire someone to come in and tell you what your customers want to see? Well, if you don’t have a marketing department in your company then you’re going to feel overwhelmed.

A marketing agency can find your current audience, potential audience, identify the changes you need to make and come up with a rebranding strategy that is right for your company. It’s especially important to have a strong online presence; most consumers spend at least a few hours a day on their phones or computers. By not having a great online campaign you’re missing out on potential customers.

Even if you have a in-house marketing department, it can be worth it to get a fresh prospective. Often when people are too close to a project they cannot see the forest for the trees. Having an outsider can help identify crucial missteps in your marketing strategy.  

Be Yourself

This is where all your research and soul-searching efforts are going to become your creative. But, the most important thing is to be authentic! You could have a great ad or commercial, but if it comes off as fake, people will reject it.

Pepsi is another good example: They incorporated a caricature of a Black Lives Matter protest with Kendal Jenner heading it up and offering a Pepsi to police officers. It was widely criticized for a plethora of reasons, but mostly because it came off as inauthentic, a cheap grab at something relevant and left the viewer cringing. You can cringe at it here.

Wendy’s, on the other hand, capitalized off their social media presence with a campaign of hilarious tweets, targeting their competitors and engaging with their customers.

Rebranding-Wendys-McDonalds-min.jpg

 It worked because it showed personality and modernity. They were quick with comebacks to jokes about their brand and called out other brands for being phony or lesser quality. People have even made lists of their best tweets; check out more here.

But, that doesn’t mean you should pick a twitter fight with a rival company. What’s right for Wendy’s isn’t right for you, but authenticity is! Find a thing unique to your company and run with it!

The last piece of advice we can offer is to not rush into anything! Rebranding can be a big change to your company and to your audience. You want to make sure your strategy is the right one and something your company can commit to in the long run. Changing a logo or name of your company, only to shortly go back to the original if it doesn’t immediately register with customers, is a bad look.

If you feel like your company could benefit from rebranding efforts, contact Rizzo Young Marketing LLC.

Sources

https://www.entrepreneur.com/article/237296

https://www.forbes.com/sites/yec/2018/07/12/how-to-foolproof-your-digital-marketing-strategy/#4ce116e56fff