Maintaining your audience is crucial when rebranding your business. Your customers have already shown interest in your products and have established trust and loyalty with your brand. Losing them can result in decreased revenue, tarnished reputation, and long-term negative impact on business growth. According to research, many businesses rebrand every 7 to 10 years. It is a way to reintroduce your establishment to the market and revive interest in products and services. Here are some ways to rebrand without mistakes or losing your core market.
1. Communicate the Changes Clearly
Communicating the upcoming changes will help ensure a successful transition. One effective way to communicate the change is through a multi-channel approach, such as email campaigns, social media posts, and in-person events. It’s important to clearly explain the reasons for the rebrand and what customers can expect in the future. A gradual introduction of the new branding can also help your company ease into the changes and give customers enough time to adjust. Providing a clear roadmap or timeline of when and how you will implement your rebrand will help customers understand and appreciate what is happening. When existing customers are not kept in the loop, there is an increased risk of leaving your brand. There is also confusion when customers are unsure whether it’s the same company they’ve always dealt with. A classic example of this was the Tropicana rebranding debacle, where the beverage company thought to change all elements of its branding at a go. Ultimately, the result was confusion because many people did not identify the rebranded packs.
2. Revamp Your Business’s Social Media Platform
In modern times, rebranding without using social media to your advantage is almost impossible. These platforms offer a free opportunity to actively engage your audience or followers. During a rebranding for your business, your social media platforms must be up to the task. That means updating your profiles and all other relevant content on the platform. Sometimes, it is necessary to consider buying a social media account with a large following. Some businesses do this to increase their followers, and you can do the same for your company. On the other hand, if you are selling your Instagram account to a rebranding business, be sure the transaction is through a legitimate site.
3. Gradually Introduce the New Brand
Your customers must be familiar with the new look and feel over time. It has many advantages over being confronted with an instant and complete change. What you want to avoid is the potential alienation of your current audience. Moreover, a gradual approach allows you to test and make adjustments before fully committing to rebranding. The idea is to prevent any potential negative impact of the rebranding on your business. Gradually introducing your rebranding allows you to maintain the core elements of your brand. These are the things your customers readily recognize and identify with, giving you a chance to keep their trust and loyalty while also bringing in new customers. A globally recognized corporate logo, Mastercard, learned the hard way when it failed to introduce its rebranding gradually. When they suddenly dropped their name from the logo, customers failed to recognize them. Learning from such stories will guide you in introducing your brand.