Happy Thursday and welcome to another week of PR knowledge! Today’s topic will focus on the first three steps of rebranding a company’s image. Then next week I will conclude the post with the last three steps. During this post I will explain the brief concept of rebranding, also I will link other articles that will provide in depth information on this topic.
So I chose this topic because rebranding can help give a company new life, but it can be a long and difficult process. Rebranding can provide the company with new opportunities by reaching out to larger audiences and investors. However, there are risks when making these transformations. The public and company employees could rebel against the new changes.
Rebranding can be defined as creating a new image of the company through their values and logos. The six basic rebranding steps include: justification, key principles, the company’s employees, distinction, brand launch, and monitoring public perception.
Justify the Change
Rebranding an existing company’s image can be a long and difficult task, it’s important to understand the purpose behind the rebranding. Creating a list of objectives can help to understand the process because it will help to create a clear outline of what needs to be accomplished.
Rebranding usually occurs for two different reasons. One, the company may be attempting to gain a head start on a new opportunity. For instance, the purpose could be to reach out to a larger audience. A similar situation with Target occurred during the 1990’s when Target was viewed as another low priced retail store. However, to stand out from the crowd they rebranded their image to offer affordable and high quality clothing. Then they created a new logo to appeal to their larger audience base and they successfully rebranded their company.
Another reason to rebrand is because the company is trying to react to recent events; for instance a merger occurring between two companies. In 2005, Sprint and Nextel merged together to offer their customers a better service. However, their networks were incompatible and their new logo, that explained the merger, was subtle and very basic. Their rebranding failed and the two companies split up.
Key Principles and Values
During the rebranding process, your company should understand their key values that will be maintained during these transitions. It’s important to explain what the company hopes to achieve during the rebranding and which parts needs to be changed or removed. During this growing process, the company values should be the main focus. Don’t get caught up in creating a new visual, or logo, for the company. Creating a logo will come later during this process.
Employees: Company’s Past, Present, and Future
Never forget about the employees. They make up a large portion of the company and can have a big impact on how rebranding is received. So don’t be afraid to bring your employees together during this transition! Explain to the employees the reasons behind the rebranding and ensure they understand. To help increase cooperation, try allowing the employees to have a voice during this process. Employees understand their company well and can help provide constructive feedback. By providing the employees a voice during this growing transition can help increase their commitment and excitement about the company.
Overall, rebranding can help a company redefine their image and build better relationships with their employees. This can be a long process, but when it’s done correctly companies can be successful.