Sometimes rebranding is the need of the hour, but it comes with perplexing the customer base. Before we proceed, it is vital to choose the proper business structure for your business, as there are many business forms such as LLP, one-person company and private limited company. But the private limited company is one of the preferred forms of entrepreneurs. Registration of the private limited company can be done online according to companies act which is incorporated under the Ministry of corporate affairs.
Also, it is crucial to register your trademark. The process of registration is simple and easy. When you submit required documents to authority, then you would be able to apply for TM registration mark over your products, and after the process is done, you will be granted ‘®’ mark.
This looks to be true for firmly established companies which have created a healthy relationship with their audience and obtained a reputation worth holding on to. How can one refresh the brand without losing the customer base?
It all comes down to how efficiently you market yourself following a rebranding effort. Intrinsically, you will already have existing customers and your target audience during the process of rebranding, but how you make them aware of the changes becomes the essential part of it. Altering or modifying your products that you are providing; name or logo is a massive shift in the way you position your company and your audience would due warning. Any laxity in communicating the change can damage the company’s reputation and trust you have secured from them.
Tom Kanewske, a senior director at Derive systems, has said that “one of the challenges of rebranding is maintaining the value as it might leave the customers feeling as if their loyalty towards the company has been disregarded”.
Rebranding is just a one-step of the success, to make it successful marketing team has to give everything. Without loud and clear communication to your audience and inclusive marketing strategy, your rebranding investment could go in vain.
Keep your customers updated
Continuing engagement and dialogues are the most crucial factors in determining the customers’ inspirations and in protecting the reputation of the brand during the process of rebranding as Steve Rockman (marketing officer of the TruFusion) has said, “your customers should be aware of the incoming changes, and if it is possible for you then you should include them as well in the process”. Further, he says, “it is vital to receive their feedbacks when you are initiating such a big change in your company’s brand”. Jennifer Jackson (VP of the development at Hungry Howie’s Pizza) says that “they (customers) deserve to be aware of why rebranding is so crucial. Additionally, it would be great if send them a note consisting of the details of the change and why is it necessary to bring those changes to revitalize the brand. This could be a great opportunity to promulgate the branding by providing a new base to your customers”.
Emphasize on the advantages of the rebranding efforts
After informing them about the rebranding and why is it necessary, it is crucial to let them know why it is an excellent thing. Kim Ince (group manager at digital strategy at Avanade and ex-director of strategy at Blue fountain media) said, “If you are planning to rebrand due to merger or acquisition then your small company might require to do a little work to make sure that its employees and customers would not have to relinquish that they adore about your existing brand. You should mitigate any possible risk associated with rebranding and spotlight the primary advantages of it. For example, there might be some apprehension about losing personal attention and losing jobs from the employees’ side in a larger company’s acquisition process. Here, you should parent another company as ‘umbrella company’ which could provide a larger network, numerous resources and agility to the company with the well-established organization”.
Kanewske, whose company got succeed with the merger of 3 small automobile technology companies, said, “with the preceding company’s trust, relationships, and legacy, you should build the vision of a new company to give better branding direction and position in the market”.
Be precise and deliver your message persistently
Jennifer says, “Rebranding efforts are all about phase of changes, progression and growth within the company. Hence, your marketing decisions should be reflected in the long-vision of the company. You should ensure everyone is on the same table; hence, it becomes vital for you to stay on the message”.
Ince reckoned that once you register private limited company online, the next step should involve securing your trademark for branding purposes. You should ensure that your whole brand presence ‘offline and online’ is united”. You will see numerous things in branding, such as logo, name, colour, imagery, URLs, guidelines, print collateral, social engagement and so forth, where the consistency becomes the key to all”.
As everyone gets excited while marketing their new brand identity, you should ensure that you will be stuck to the core values to stay relevant and connected to existing stakeholders. Likewise3, Rockman noted, “companies while rebranding should ponder upon the customer experience and how they would perceive the brand in the future when it happens. Further, he says, you must opt a design that portrays customers’ experience to the fullest. Be genuine while hoping for the brand as it would represent your whole business”.
Pamela Webber (chief marketing officer at 99designs) says that rebranding is all about balancing the two things, who you were and who you want to be in the future. You want to go ahead, but you do not want to go so far away from where you cannot resonate or reflect the experience of the customers you made earlier. Additionally, you might not want to lose sight of that. Accept the new scenarios and evolution that comes along with the new type of products and customer base while keeping your core fundamentals intact. Ensure that whatever you do is genuine to your employees and customers.
Ensuring that your team is on the board
It is crucial to focus on the external audience, but it is vital to focus on internal members of the company while rebranding. Because they would be the ones who would make it possible. When everyone is on the same board and connected to the company, it makes your rebranding process successful. Webber said that “you are not alone in the process of the company’s rebranding, although it is not possible to receive everyone’s ideas and feedback, you should allow your employees to be heard. It is possible that some people might have different beliefs and opinion about the direction of the business. Hence, be clear as day on what you are going to achieve and what would be the end result of it”.