Re-Branding or Restructuring Your Business
There are many reasons why you may need to restructure or rebrand your business – damaged reputation, market has changed, business model has changed. No matter your reason, there are several things you need to be aware of when you make a change to your business brand, they are:
- Take the time to focus on the big picture of why you are rebranding your business. Try not to get caught up in the details at first, as you may get lost in trying to determine your new image.
- Once you have clarified the big picture and understand the direction of your restructure, you can then drill down to the specifics of your new brand. Remember you cannot be all things to all people, so be specific in your new direction.
- Hire an expert! So many businesses fail in this respect and try to do a rebranding all on their own. You are too close to the brand to be objective, therefore, it is best that you have a third party involved.
- Be sure that you identify your audience and understand what they are looking for. This will determine how your new brand is conveyed and communicated.
- The announcement of your new brand is critical to its survival. Proper announcements, placement of those announcements, and more will determine how your restructuring will be received by your consumers.
- Make sure that your new brand is legal and no one else is using any of the details. Logo, name, colors, etc. all play a role in your branding image.
It is important that during your rebranding you keep your employees and consumers informed. Do not surprise them with a new brand and expect everything to continue as usual. Educate them on the purpose of the rebranding, the new goals, and how they will benefit.