Rebranding can be a very risky bet for a company. Sometimes, it can work extremely well and can move a company forward towards new levels of success. However, it can also be a disaster if it is done poorly.
Here are some rebranding mistakes to avoid when you are creating your rebranding strategy.
1. Not conducting market research
If you fail to conduct market research before you rebrand, then this can be a massive mistake. The reason is because market research often provides key insights about your customers’ relationship with your brand. Market research can tell you whether or not your customers like your company name, slogan, packaging, etc.
Without market research, you will simply be guessing in the dark, and that is not optimal for creating a sound rebranding strategy.
2. Choosing a brand that is inappropriate for your customer base
Sometimes, companies choose to rebrand in a certain way, because they think it will be edgy, or innovative. While this can work in the right circumstance, you do not want to risk disconnecting your customers with your brand. Over years, customers often develop a strong emotional connection with a company’s brand.
The company brand is seen as an extension of the company’s identity. So, if it is switched to something that is radically different, and that disrupts the emotional connection with the customer base, then this can cause customers to abandon the brand.
3. A lack of consistent implementation
If your company has conducted a lot of market research, and plans to rebrand for solid, logical, and research-backed reasons, then you need to implement your new branding consistently, across your entire company. If you fail to do this, then you can create a lot of confusion.
For example, if you own a retail company, and some of your retail locations have one logo, and others have another, then this can cause your customers to wonder if they are even shopping at the same store. Confusion is highly undesirable, and can cause customers to walk away. So make sure you implement your new branding consistently.
Rebranding mistakes can be very costly for your business. They can cause you to lose customers and profits. For this reason, it is best to avoid them wherever possible. Knowing the three rebranding mistakes in this article can help you to avoid them when you are doing your rebranding.