Rebranding: The Key To Crushing Your Competition

By Ryan Boog

A business may need to rebrand due to significant growth, an outdated image, or to give the business a competitive edge.

Rebranding is the process of changing the corporate image of a company or organization. During a rebrand, a new name, term, symbol, design, concept or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors, competitors, and other stakeholders

It is a long, time-consuming process, but will give your business the fresh start that it needs.

Rebranding: The Key To Crushing Your Competition

Why rebrand?

  1. Branding is what sets your company apart from your competitors
  2. It helps your business grow quicker
  3. Your brand can dominate the market
  4. Increase the brand's longevity
  5. It tells potential buyers why they should choose you and helps them to resonate with your company
  6. It makes them more likely to be satisfied and become lifetime users

Signs that your brand is outdated

  1. You've had the same logo for over 10 years
  2. You don't have a brand slogan that your company lives by
  3. Your website, social media, and office all have a different look and feel (or don't exist)

With poor branding, you miss out on:

The right audience

If you do not tell your brand's story, you will not get the clients you desire. This will lead to disappointment on both sides of the business relationship. That means poor customer reviews, low retention, and lack of business growth.

Brand recognition

If you have a story, more people will retain that story in their memory and they will recognize it. The consistency creates trust in the business to customer relationship.

Revenue

Without a branding strategy, you are just another company trying to sell a product/service. This does not stick out to a consumer and will not lead to sales.

Followers

If you can create a brand that means something, you can actually change the world. Think of a life without Chipotle, Nike, or Coca-Cola. They have created a culture and have changed lives and perspectives. Their followers live and breathe their brand.

10 things you can perfect to beat your competition

The key to making an unbeatable branding strategy is to be consistent. All of the following individual components should come together to form one identity.

1) Brand image

office interior of Code42 showing a meeting room and open area The logo, website, office/stores, company swag, packaging, and social media should all incorporate the message you’re trying to communicate. For example, you can’t have an outdated brand image with hopes to reach trendy millennials. Font choice, colors, size, location, and layout all matter for your brand image.

Code42's office matches the look and feel of the branding on their other things. It is modern, techy, and uses their brand colors.

2) Your company’s edge (positioning)

coca-cola logo Are you innovative (a first-mover) or the go-to company with 20 years of reliability?

Coca-Cola has been around for years and you know that each time you open a Coke it will taste the same.

3) Unique value proposition

what happens in vegas, stays in vegas What do you offer that your competitors don’t? What are the main benefits of your company?

When you think of Vegas, you think of the fact that you can go there and be as crazy as you want. Then come home to your everyday life with no repercussions. Before this slogan and campaign, that thought didn't exist and it was not a large tourist destination.

4) Pricing strategy

A bottle of Fiji Water: It all beings as a cloud Are you affordable and high-value? Or the high-end and high-quality?

Fiji water gives a high-end value to regular water just because of their branding strategy.

5. An ideal customer or target market

build a bear workshop logo What are they looking for in a brand? Where are they searching for your product/service? How do they regularly get their information?

Build-A-Bear is a child's dream and the company knows it. They target kids by putting their stores in the mall with bright window displays that draw children in. They know that kids are often shopping with their parents and there is a good chance they will talk their parents into letting them make one.

6. The way that you will communicate

starbucks coffee logo Make your audience feel connected to your company. This could be through social media, thank you notes, a loyalty card, etc.

For example, when you go to Starbucks and spend money, they give you rewards in return for being a loyal customer. When you mention Arby's in a Tweet, they tweet back at you. Small things like this make customers feel special and make them want to come back.

7) The right employees

In order to have a consistent brand, you need your employees to believe in the brand every single day. They should naturally want to post your new product on their personal Instagram. When people call your company, they should get the same feeling as if they are looking at your Facebook page. This should be easy if you hire people that truly believe in the brand and are satisfied with their job.

google logo Google has a whole campus dedicated to making their employees happy and have won many awards. This is not possible for most, but small things like giving newcomers a tee shirt with your logo on it can make them feel welcomed to the team.

8) Story

How did your business start? What is your motivation every day? What is the purpose of your brand? Who are you there to benefit? This is one of the most important aspects of your branding strategy.

nike logo Nike does a good job of this, they make their brand about people who work hard and get results. In your advertisement, you see pictures of someone running a marathon in Nike clothing and shoes with the saying “Just Do It”. This is an inspirational story that makes you want to join the group and go be active in your Nike wear. Notice it is not a long paragraph about why their shoes are awesome and high-quality.

9) Voice

Think of your brand as a person. The brand should talk in a certain tone whether that is funny, intelligent, inspiring, or otherwise. But pick one and stick with it. Utilize this in all of your site copy, social media posts, and content.

brand voice Spirit Airlines is a great example of this. When you are on one of their flights, everything from their menus to their flight attendants are funny. They make the flight experience more enjoyable. This fits with their low cost and fun strategy for their target audience of people who want to enjoy a fun trip but don’t have the money to spend on a flight. Delta, on the other hand, has a very professional voice because the company caters to the business class.

10) Mission

Do you want to help the environment? Are you an all American made company? Is everything you make natural? Do you donate to a certain charity? You don't always have to promote this, but it is good to know in case something comes up and you have to share this information.

taking a stand Chipotle has put a ton of effort into their supply chain management. They only accept ingredients from suppliers that meet their standards. This way people can be sure that they know exactly what they are eating.

Ways to consistently improve your brand:

  1. Do research on your competitors
  2. Sit down with your team and have a group brainstorming meeting. Write down every single thing that is said.
  3. Narrow your ideas down to a couple of your favorite ideas for each component.
  4. Have another meeting with just the marketing team and leadership (or others that are key decision makers). Use this meeting to nail down what you want to communicate.
  5. Come up with a budget.
  6. Execute the strategy through your logo, website, office/stores, promotional materials, packaging, and social media.
  7. Collect analytics and see what is working and what is not. (keep in mind that it will take time to gather correct insights)
  8. Adjust where necessary

Promote your rebranding strategy

Social Media

Show your rebranding in your cover photo, profile picture, about us section, and your posts. Use the company colors, font, and voice. If you want to make it really obvious, you can make a status about it!

Website Revamp

Redesign the look and content of your website to match your branding. Also, make sure it is up to Google’s standards so that you can rank organically for more search terms.

Blog

Put a blog on your website where you can write about things in relation to your brand. If you own a clothing company, maybe you want to write about how to clean out your closet to make room for a new you.

Find influencers

Find influencers in your industry that match your brand values and ask them to try out your product. Once you find them, you can send them a sample and hope they promote it for free or pay them to promote it. People trust other people so this is a great strategy.

An Event

Your company can host an event with your new branding loud and clear. This is the perfect time to give away freebies, discounts, or even just have a fun party.

Get out in the community

Does your local youth football team need a sponsor? Is there an upcoming charity event that you could donate to? Can you have a booth at the local fair? Once you begin to get out in the community, you can win over your local market.

Inspiration

Lush

Lush stands for the environment and you can tell because it is a part of every single thing they do. Everything from the Lush pots that can be recycled to the charity pots that are sold for charity, you know they care.

Lululemon

lululemon ad with two women wearing lululemon gear Lululemon empowers individuals and helps them find zen through yoga. They offer free classes at their store and make shopping a relaxing experience with helpful employees and free tea. They are well known as a high-priced but high-quality company.

Love Your Melon

lym branding Love Your Melon was founded in an entrepreneurship class at the University of St. Thomas in St. Paul, Minnesota. Two friends were on a mission to improve the lives of children battling cancer. The original intent was to put a hat on the head of every child battling cancer in America. They have beat that goal and are now donating 50% of profits to cancer research. That is a story that can be told!

Caribou Coffee

Caribou started as a small Minnesota company and is growing rapidly. While they've done so, they have been striving for all natural products which they have recently achieved! Their commitment to caring what goes into a customer's body could be the thing that helps dominate their competitors.

Amazon

Amazon has set up a strategy where they can bring you almost anything you want to your doorstep in a matter of hours. They are committed to their customers and work to find cheap pricing and make convenience a priority. This has led them to be so successful.

Are you interested in a rebrand? If so, let's chat.

Hoist Logo Mark