What Is A Rebranding Strategy?

Is rebranding a good idea?

Rebranding isn’t a strategy you should pursue just because it “seems like a good idea” or because your gut’s telling you to go for it.

Your brand is the foundation for all your other marketing and messaging strategies, so changing it is literally going to affect everything else in your company..

How much does it cost to rebrand?

Most small businesses can expect to invest $90,000 to $180,000 and six to eight months to transform their brand. Studies show the average B2B business spends about 5 percent of their revenue on marketing. With that in mind, an average rebrand will cost anywhere between 10 and 20 percent of your marketing budget.

How do you write a rebranding press release?

Key Components of a Rebranding Press ReleaseThe press release title (The Brand Switch Announcement)The introduction ( The 5Ws of the change in brand identity)The second paragraph ( Further argument)Quotes from company executives ( Quotes from the top executives/CEO/Founder)The third paragraph ( Wrap it up)More items…•

Can you rebrand Alibaba products?

Alibaba is like the Holy Grail for outsourced manufacturing. … Or it’s possible to just rebrand a product listed on Alibaba.

Without that, no, it is definitely not legal. Many companies will manufacture and sell their product to other companies to brand. … But, if you purchase a name-brand product (wholesale or retail) and repackage it (without the permission of the manufacturer) with your label you could end up getting sued.

How do you successfully rebrand?

Rebranding Strategies: A Step-By-Step Approach for Professional ServicesStart With the Business Reason. … Research Your Firm and Your Target Clients. … Use Positioning and Messaging to Capture Your Brand Strategy. … Build Your Brand Identity. … Build Your Website and Online Presence. … Marketing Collateral. … Brand Building Plan.

What is the rebranding process?

To rebrand a business is to take it in a new direction. It’s about going to the core of what you stand for, consolidating your aims and vision, and then modifying your image to reflect these changes. You may decide to rebrand if: Your overarching vision has changed.

What are the benefits of rebranding?

REBRANDING PROSATTRACT NEW CUSTOMERS. After you’ve been in the market for some time, your image and company message may have become stagnant, and maybe even irrelevant to your audience. … ACHIEVE NEW GOALS. … INCREASE ENGAGEMENT. … STREAMLINE MESSAGING.

How do you promote rebranding?

How to promote your rebrand externallyBuild excitement with teasers. … Engage the media. … Show brand ambassadors love. … Have lots of answers to customer questions. … Tell your rebrand story.

When should you rebrand?

7 Signs You Need to Rebrand.1) You Look Like Everybody Else In Your Industry.2) You’re Going After a New Audience.3) Your Brand Has Expanded.4) Your Brand Is Painfully Outdated.5) It Doesn’t Reflect Your Values.6) You’ve Dealt With Bad Press.7) You’ve Merged or Acquired.More items…

What are five successful rebranding campaigns?

Here are five companies that successfully rebranded themselves – and what you can learn from them.CVS Pharmacy: Do the Right Thing, Even if it’s Seemingly Unpopular. … Burberry: The Luxury Brand of Thugs? … Old Spice: Not Your Grandpa’s Deodorant. … Pabst Blue Ribbon: Frat Beer Retails for $44 in China.More items…

When people see a logo that looks outdated, they perceive an organization as out-of-touch with modern best practices. A good rule of thumb is to at least consider updating your logo once every five years.