Rebranding is the process of creating a new identity — often with a new name and new logo – for an established company.
Why would a business seek to change its look and feel through rebranding? Among the most common reasons for a firm to rebrand are to:
- Reposition your company and its vision
- Update your image, often with an eye toward a younger audience
- Signal an expansion in your scope of products, services or market area
- Respond to a merger or a change in ownership
- Align with a current and popular trend, e.g., “light” or “green”
- Distance your firm from past misstep that’s tarnished your reputation
Clearly, there are considerable rewards to rebranding. But, consider the risk, too. When changing your identity, you take a chance on losing your audience or disappointing current customers — a clientele you’ve likely built painstakingly, one-by-one over the years.
All that said, countless businesses have successfully rebranded. How? By following these five best practices, among others:
- Know why your rebranding: Ownership, above all, should have compelling, customer-centered reasons for making the change. Your clients will want to know! So, once you’ve established these reasons and “framed” them as consumer benefits (e.g., “more services,” “enhanced resources”), make sure you communicate them clearly and consistently to maintain customer loyalty.
- Proceed with a comprehensive strategy: Don’t be surprised by the complexity of rebranding. It will likely begin with a new name and logo and extend to new signage outdoors and indoors, new promotional products and much more. You’ll have to touch all the bases — from relatively simple new business cards and caller-on-hold phone messages to a new website design and content. Being prepared for the rebrand will help you be successful.
- Anticipate customer questions: Communicating with your clients as you rebrand will be key to maintaining your long-held relationships. If they don’t gain a strong understanding of why changes are occurring, they may lose trust in your business and you might lose revenue along the way. Work with your team on this. After all, your employees are the ones who probably interact with customers on a day-to-day to basis. Without the support of your team and a consistent message, your clients may feel uninformed or, worse, unappreciated!
- Promote your new brand: By publicizing your company’s rebrand — and the consumer benefits it promises — you’ll have an opportunity to not only maintain your business but also increase it. Pull out all the stops for this important opportunity! Advertising, social media and event marketing by way of an open house or grand opening sale should all be considered. It’s said you have but one chance to make a good first impression. This old saying gains new relevance when rebranding!
- Remain focused on existing customers: For all the activities and potential distractions that can result as part of a rebranding, it’s possible to lose sight of what’s of primary importance: your current clients. No matter how busy it gets, maintain your focus on meeting their needs. Customer satisfaction is always a good idea and is especially so when seeking to retain the business of long-term clients as you make a transition.
Independent printers: Rebranding opportunities with an industry leader
Independently-owned printing businesses have good reason to consider a transition to Allegra. Through the Allegra Advantage? Program, you’ll gain tools that can increase sales and earnings, build greater equity, operate more efficiently … and eventually position yourself for a more profitable exit down the road.
Another plus? Well-practiced at helping countless other businesses make the transition, we’ll assist you every step of the way with the rebranding process!