Rebranding: How To Create a Successful Rebranding Strategy (2024)

What is rebranding?

Rebranding is the process of changing the corporate image of a company or organization. It involves altering the name, logo, design, messaging, and overall market positioning of the brand. The goal of rebranding is to create a new and improved identity that resonates with customers and stakeholders.

Common reasons for rebranding

Improve the company’s reputation

Rebranding can help a company shed negative associations and build a more positive image in the eyes of consumers.

Remain relevant

In a rapidly changing market, companies may need to rebrand in order to stay current and appeal to a new generation of customers.

Capture a new market

Rebranding can help a company reach a new audience that was previously untapped.

Differentiate from competitors

When a company’s brand becomes too similar to its competitors, rebranding can help it stand out and establish a unique identity.

Accommodate a merger

When companies merge or acquire new businesses, rebranding may be necessary to create a unified and cohesive brand identity.

Rebranding example

An example of successful rebranding is the company “Airbnb.” They underwent a complete rebranding process in 2014, which included a new logo, website design, and marketing strategy. The rebranding helped Airbnb position itself as a global brand and expand its market reach.

How to develop a rebranding strategy

1. Set goals

Define the specific objectives you want to achieve through rebranding, such as increased market share, improved brand perception, or entering new markets.

2. Identify your audience

Understand the demographics, preferences, and behaviors of your target audience to ensure that your rebranding efforts resonate with them.

3. Write a positioning statement

Create a concise statement that articulates the unique value proposition of your brand and how it differs from competitors.

4. Create your new identity

Develop a new logo, visual identity, and brand messaging that align with your rebranding goals and resonate with your target audience.

5. Test and iterate

Gather feedback from internal and external stakeholders and make adjustments to your rebranding strategy based on the insights gathered.

6. Apply your new branding

Roll out your new brand identity across all touchpoints, including your website, marketing materials, and customer communications.

7. Listen and adapt

Monitor the impact of your rebranding efforts and be prepared to make further adjustments based on customer feedback and market response.

Tips for rebranding

Make your rebrand an event

Generate excitement and buzz around your rebranding by treating it as a major event and involving your audience in the process.

Consider your budget

Allocate the necessary resources to execute a successful rebranding strategy without compromising the financial stability of your business.

Anticipate resistance

Recognize that rebranding can be met with resistance from loyal customers and employees, and have a plan in place to address concerns and objections.

Stay true to your company values

Ensure that your rebranding efforts align with the core values and mission of your company to maintain authenticity and trust with your audience.

Use research to your advantage

Utilize market research, customer surveys, and competitive analysis to inform your rebranding strategy and make data-driven decisions.

Rebranding FAQ

What is a rebranding strategy?

A rebranding strategy is a comprehensive plan that outlines the objectives, target audience, positioning, and execution of a company’s rebranding efforts.

What are the benefits of rebranding?

Rebranding can lead to increased brand awareness, improved customer perception, expanded market reach, and a competitive edge in the marketplace.

When should companies avoid rebranding?

Companies should avoid rebranding if it does not align with their core values, if they lack the resources to execute a successful rebranding strategy, or if their brand already has a strong and positive reputation in the market.