When buying an existing business, you benefit from acquiring an already successful business model. However a rebrand may be in order to fully put your stamp on the business.
Here’s our steps on how to rebrand a business:
1. Understand the existing brand. Make sure you fully understand the brand that already exisits. Remember you could have acquired a large loyal customer base, by changing everything you may scare them off.
2. Set out your goals. Figure out what works and doesn’t work for the business.
3. Research and then research some more. What are your competitors doing right and what are they doing wrong? Its always good to look at competitors, you could might find a gap in the market which your competitors aren’t appealing to.
4. Consider how you will transition to the new brand. Don’t confuse customers by completely changing the company over night. A mail shot to existing customers noting the change in the brand may ease customers into the new brand.
Here’s some great examples of successful rebrands for inspiration!
Starbucks has evolved over time, but still has kept its brand identity.
Apple has developed into a globally known brand, with strong brand values and image. But Apple wasn’t always the clean cut image we all know today, they’ve developed with the times and been rewarded for it.
Kodak has been around a long time and with that its kept up with the times and adapted to suit. The current logo is clean and recognisable.
As you can see its rare that brands stay exactly the same as years go on. Is it time for your brand to have a refresh? Make sure you consider all the above points to make sure your rebrand is successful.