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Rebranding Your Business: Why and How

December 3rd, 2019   ||    by Susan Kuchinskas

Kroger is rebranding with a new logo and a universal tagline it hopes will tie its multiple supermarket brands together. According to CNBC, Kroger will launch the new tagline, “Fresh for Everyone,” with a media campaign that includes TV, radio, social media, podcasts, in-store, and out-of-home.

Kroger is looking to create a single brand proposition that will cover the roster of brands it’s acquired over the years. A company that’s grown by acquisition is one of the many reasons to consider rebranding your business. The original logo and descriptor may be too narrow for the company of today.

Another reason for a change in identity is having a second try at getting it right. Start-ups and small businesses may not have had the time or resources to create an excellent name, URL, or logo at launch, Inc. said. Sometimes the domain name is hard to remember, doesn’t clearly relate to what the company does, or is hard to type into the browser bar.

The initial hurried choice of a business name may run into copyright issues as the company gets better known. And sometimes, the logo designed by your son’s girlfriend or whoever begins to seem amateur.

Is the Time Right?

In an ever-evolving, fractured, and often mercurial media landscape, rebranding your business is sometimes a crucial step to ensure growth.

Forbes listed eight signs it’s time to consider rebranding your business. They include:

  • A drop in sales or leads
  • Your target audience has changed
  • Current branding doesn’t fit with what you do—or would like to do

One example of the latter is MarketFinance. It launched as MarketInvoice, reflecting its original service of providing invoicing for small businesses. Later, the company began providing a variety of financial services while also targeting larger enterprises, according to PYMNTS.com.

Best Tactics for Rebranding Your Business

You should be aware that existing customers are used to your brand, and they may love it. So, it’s important to communicate clearly why you’re making changes.

Consider the rebranding of Slack, the online collaboration platform. Business News Daily explained that Slack’s original logo, a multicolored hashtag, was too reminiscent of a number of other brands’ logos. That’s an excellent reason to change.

Some design elements carried over into the new logo, clearly linking back to the original brand, making it seem less jarring. In addition, Slack explained the reason for the change and the process clearly to customers, another best practice when rebranding your business.

When to Advertise

Those who have been through the rebranding process emphasize that it must start internally. Executives and employees must understand the reasons for the change, buy into the process, and learn the correct usage of the new name and logo.

Transitioning Florida Hospital to AdventHealth required changing everything from signage to stationery to clocks that bore the original name. The rebranding process began about eight years ago, and the health care provider waited a year after the new name went live to kick off a community education campaign with a series of billboard and television ads, the Orlando Sentinel reported.

Role of TV Advertising

At the national or local level, TV can play an important role when you’re rebranding your business. Rebranding campaigns are about telling a story: the story of the brand, how it’s changed, and how the new brand elements reflect those changes. Television ads are the most powerful medium for emotional storytelling.

As a mass medium, television provides reach when getting the word out to everyone is important. At the same time, geotargeting TV ads let local businesses tell their stories in a cost-effective way.

As new technologies make TV ad-buying more accessible and targeted, television ads can play a key role in the rebranding process.

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