How To Successfully Rebrand Your Company’s Identity

No company spends days sorting through color palettes, fonts, and logos only to change them later. However, sometimes, rebranding becomes necessary. 

Data reveals that a whopping 74% of S&P 100 companies rebranded during the first 7 years.  

Often, a company’s mission evolves, and its old image no longer fits. Other times, the market shifts, and the business needs to keep up with the times. 

Whatever the reason may be, rebranding is a delicate process that requires thoughtful planning and attention to detail. Below, we discuss the essential tips to help you seamlessly transition your company’s identity. 

Key Elements of a Successful Company Rebrand

Rebranding is exciting, a little nerve-wracking, and, if done right, incredibly rewarding. 

According to a study by the University of Nebraska Omaha, rebranding events led to positive stock returns. In fact, stock prices went up by an average of 2.46%, translating to an impressive $31 million increase in market value for the companies involved in the study. 

So, while rebranding strengthens your market position, you must ensure to follow the right strategy.   

1. Consider the Type of Rebrand

When it comes to rebranding, one size doesn’t fit all. You need to decide whether a partial or a total rebrand is the ideal route for your company. 

A partial rebrand involves giving your business a makeover without changing its core identity. During this, you might update your logo, tweak your color palette, or refine your messaging. 

Consider the iconic “Old Spice Man” campaign as an example. It shook things up and brought a modern twist to the brand. While the visuals and marketing took on a fresh, youthful vibe, the brand kept its classic essence intact.

This form of branding is perfect for businesses that:

• Have a solid foundation but need a bit of refresh to stay current
• Aim to target a new audience segment without wanting to alienate their existing customers.
• Are introducing new products or services 

A total rebrand, on the other hand, is a complete transformation. 

It’s a bold move, but sometimes, it’s necessary to reflect significant changes in your business direction. 

It involves changing everything from your visual identity to your company name. 

Dunkin’ Donuts is a notable example of a total rebrand. In 2019, the company dropped “Donuts” from its name and became Dunkin’. 

This change reflected its shift in focus from selling donuts to a broader range of food items.  

According to Forbes, businesses often undergo a total rebrand when two companies merge. However, there could be other reasons. 

• Your current brand has a negative reputation and no longer reflects your values. 
• You’re entering an entirely new market 

2. Conduct Market Research

This is where you have to consider where your company stands and where you want to go. 

It all begins by understanding your audience. What do your customers love about your brand, and what might they be missing? 

You can reach out to them through surveys and gather direct feedback that highlights their preferences. 

Next, it’s important to analyze your competitors. Take a close look at how other brands in your industry are positioning themselves. What branding strategies are they using, and how are they resonating with their audiences?

This will help you learn about new market expectations and identify gaps your rebrand can fill. 

3. Redefine Your Company’s Mission and Vision

Research highlights that a well-defined mission statement and a commitment to it can directly impact a firm’s financial performance. 

Your mission statement should, therefore, clearly highlight what your company stands for and how it serves its customers. 

It’s your “why”: why you do what you do and what makes you unique.

Your vision statement, on the slip side, is about where you’re headed. According to a recent study, “A vision statement outlines an organization’s aspirations and future goals.” A strong vision inspires and guides your team and customers. 

When rebranding, take this opportunity to refine these statements and reflect your new direction. 

However, remember, it would be of little use if your company wouldn’t implement it. So, make sure you pay just as much attention to execution as possible. 

4. Change Your Logo and Color Pallete

Changing your logo and color palette is a great way to signal a fresh start for your brand. 

Your logo is the face of your company (it’s what people recognize and remember). When updating it, aim for a design that reflects your new brand identity while staying true to what makes you unique. 

The color palette is equally important. It evokes emotions and sets your brand’s tone. 

So, choose colors that resonate with your updated mission and vision. Maybe consider working with a brand identity designer to ensure a harmonious shift. 

5. Work On Your Brand’s Voice 

Your brand’s voice is the personality reflected in every piece of content you create. Refining it is essential to ensure it aligns with your new identity. 

Are you aiming for a friendly and approachable tone or a more authoritative and professional one? Your brand voice should reflect the emotions you want to evoke in your audience. 

6. Transition from Paper to Digital Business Cards

Transitioning from paper to digital business cards is a smart move, especially during a rebrand. They’re eco-friendly, versatile, and incredibly practical.

Unlike their paper counterparts, digital cards can be updated in real time. 

This means if your contact information or branding elements change, you can make adjustments instantly without reprinting hundreds of cards.  

Besides, they can be easily shared via text, mail, or social media, which is a plus. 

One standout option for this transition is Wave. The platform lets you customize and share your digital business card on the go. This way, you stay connected with your contacts in a forward-thinking way. 

7. Develop a Communication Strategy & Engage Stakeholders

Start by defining your key messages. Clearly highlight why the rebrand is happening, what it entails, and how it will benefit your customers and stakeholders. 

Make sure your messaging is consistent across all channels (social media, emails, press releases, and website updates). 

Different audiences prefer different methods of receiving information. You can use social media to generate buzz and engage directly with your audience. However, emails are a better option if you prefer more personalized communication. 

Timing is also crucial. Plan a rollout schedule that allows you to build the excitement. 

Besides, consider launching the rebrand internally first to prepare your team. You can hold meetings to share your vision and make them feel part of the process. An engaged team would naturally become advocates for your new brand.

Besides, don’t overlook external stakeholders like investors and key customers. Their support can lend additional credibility and help you build momentum.   

Conclusion

A successful rebrand sets the stage for your company’s next chapter. It’s an opportunity to connect deeply with your audience and reflect on the essence of who you are and where you’re headed. 

Remember that every step — from refining your brand’s voice to transitioning to digital business cards — plays a crucial role in shaping your new identity. 

And speaking of modern solutions, Wave is a reliable platform for creating and sharing digital business cards. It ensures your rebrand seamlessly integrates into your daily interactions and shines brightly as you move forward. 

Get started with Wave today and transition your company’s identity without hassle!