Best ways to rebrand your business in 2021

How do you rebrand your business in 2021? As a business owner, this is one of the most important questions to ask yourself. If you’re not constantly evolving with the times, you won’t compete with other businesses and maintain a steady flow of customers. That’s why we’ve compiled five ways that will help you rebrand your company for success in the coming years!

But before we dive into the best ways to rebrand your business, let’s define what rebranding is and see if you need it or not.

What is Rebranding?

Rebranding serves to change name, logo, design, or the introduction of a new concept to establish a different identity in existing consumers’ minds and target new markets and new consumers. Businesses also consider competitors in the market and the expectations of investors and stakeholders when relaunching their brand.

Why You Should or Shouldn’t Rebrand Your Business

No one gets up one day and starts thinking of a rebranding strategy for their business for no reason. Usually, companies reach a specific stage in their lifecycle to deem rebranding necessary. Here are some of the common reasons why you might opt to rebrand your business.

1. Your company or business is exploring new dimensions that were previously not part of the mission statement. This means maybe you are entering another industry and launching a new product or service related to your current established products and services—for example, a toy manufacturing company entering the electronics industry to make washing machines and dishwashers.
2. Your company might be merging with another company. This new entity will demand a new branding strategy. As such, business owners might decide that rebranding is required to develop and gain some traction among target audiences.
3. You might want to digitize your business – In this continuously evolving world, you feel left out because your brand has been unable to appeal to modern consumers. Rebranding your business in the digital domain might help give it the boost you’ve been looking for.
4. Customers might not develop a relationship with your business. This will impact long-term sales and business growth. As such, rebranding might be the answer to breathe new life into the business and provide it with a fresh outlook.

While the above might be good reasons to rebrand your business, there are plenty of wrong reasons as well. Make sure you aren’t rebranding for any of the following reasons: 

1. There are internal problems within the firm, such as with management and hierarchy. The rebranding will distract from the issues, but it won’t rectify them. In the long term, these internal problems will pop up again if necessary actions aren’t taken.
2. Your brand isn’t generating the buzz that it used to, so you decide to rebrand it. This is a wrong reason because rebranding means losing the long-standing connection your customers have developed with the business. 
3. All your competitors are rebranding, so you should do it too, right? Wrong! Just because everyone else is rebranding isn’t a reason for you too. Following the industry, the trend is definitely a lousy reason to rebrand your business.
4. You might have stumbled into a PR crisis, and rebranding seems like the only option to end it. Be sure that rebranding, in this case, won’t get rid of the problems, but it will help your business lose the customers it has remaining. 

So now that you’re clear about why or why not to rebrand your business let’s look at the six best ways to rebrand.

How to Rebrand Your Business Like a Pro?

1. Start by Updating Company Vision and Mission.

If your company is entering a new market and has started offering new services, then there is a need to update the vision and mission of your company. This is a critical step because it will help pave the way for the rest of your rebranding strategy. 

One tip to remember is to approach rebranding carefully because it is not something you can do every year or even every five years. In addition, vision and mission statements make up the fabric of your business, so changing them is a significant shift in the business direction. Be sure you want to make the change before you do it!

When it comes to LGBT-owned businesses and within the LGBT community as well, you can keep updating the company mission and vision to keep up with the times. This will help avoid any practices of exclusion or discrimination within the company.

2. Rename Your Company

Changing your company’s name is a risky step and can cost you, users, from organic search and decrease brand recognition. But if you think that your present name doesn’t represent your brand in its entirety, then there is a need to change it. Follow the tips below to nail the renaming of your company:

• Don’t forget your target audience and try to make it suitable for them
• Language – you can use your native language or a combination of two languages to make it sound unique
• It should not be hard to spell and pronounce.
• It should convey your message – try to explain your company, its products, or its services.
• It should neither be too broad nor too specific.

3. Change Your Logo

If you are changing your name, then you would surely need to change your logo. Even if you are not changing your name, rebranding still requires a change in your company logo. Keep the following things in mind while making changes to the logo:

• Try to tell a story through it. The more articulate your logo is, the more effective it will be in attracting consumers to your brand.
• Focus on the typography and try to match it with the mindset of your target audience. For instance, companies with younger target audiences try to make their logos trendy and stylish. 
• It’s not the worst idea to take inspiration from your competitors either. Since they operate in the same industry, competitor logos can give you an idea of what works and what doesn’t appeal to the audience.

4. Redesign Your Website

In today’s digital world, websites play a crucial role. Websites allow you to communicate with your present and potential customers. It is the first thing that shows up when people search for your company, so it should be on your priority list while working on your rebranding strategy. Make the design more user-friendly and update the website with your new products, and don’t forget to add the corrected vision and mission statements on your website.

5. Get Professional Help

You are not the only business that is going through a rebranding. Thousands of brands rebrand themselves regularly. As such, there are dozens of marketing and consulting agencies that can help you through the process. They help businesses solve problems and can help you, too, along with providing insights that you might have missed otherwise.

• Creating content

Creating content is by far the most critical step in the rebranding strategy. It includes publishing articles, social media marketing campaigns, and creating audio and video content for your target audience.

• Publishing articles

An article or a series of blog posts that explain why you rebrand your company would be an effective way to communicate to your existing consumers. This could also help you market to potential consumers.

• Creating content on social media

People spend a lot of time on social media platforms and even get most of their news. Therefore your business should not miss this opportunity and run a target-specific campaign with the right content to rebrand itself. In addition, educating consumers about your rebranded business is a big part of the overall success.

• Video and audio content

Be it YouTube videos, Instagram IGTVs, or podcasts, they all play an essential role in rebranding your business. So you can take this path and create entertainment and value based on content for your target audience. Or you can simply sponsor a content creator who is already creating content that aligns with your values. The creator will help you promote your brand’s new vision to its audience.

Are you ready to rebrand then?

Now that you’re familiar with the popular rebranding techniques, you are ready to rebrand your business. It’s entirely up to you whether you go for a name change or a blog change or follow the complete strategy. Just remember, rebrand your business for the right reason.  Good luck!