How is your brand planning for 2023? Does your brand positioning need to be updated to connect with the challenges of this new year?
Today we will talk about Rebranding: what is it? How does it work? What are the benefits? How to know if it is the right time to go through a Rebranding process?
Come with us, we will explain everything about this process, which can be the turning point your brand needs for 2023!
First of all: What is Rebranding?
Rebranding is nothing more than the strategic process of repositioning a brand. In it, all the elements that make up the brand platform (such as its verbal and visual identity) are pondered and adapted in order to reposition a brand that is already consolidated in the market and known by the public.
From this process, we work to build a new brand positioning so that it can perform according to your needs, becoming a real asset to the business. From this change, it is possible to develop new perceptions of consumers in relation to the brand, perceptions that are increasingly assertive and connected to the essence and moment of the business.
And how does a Rebranding process work?
Rebranding starts with a brand diagnosis. Basically, it is an analysis of the current scenario. This is the moment when we understand the essence of the brand and examine its positioning, going through all the elements of its platform.
Here at Essence, we begin with a deep dive into the brand. We get to know its culture, history, teams and leadership in order to capture the essence of the business and understand what is at the heart of its performance: its purpose, beliefs and values. Then we analyze its narrative and interactions: who that brand is talking to, how it communicates, what attributes are often associated with it.
Once the diagnosis is done, it is time to identify the brand’s needs. Here, we analyze structural and business performance issues in order to understand the Rebranding objectives. This way we can identify if there is the need for a total Rebranding, or if only some brand elements will need to go through an updating process (partial Rebranding).
The last step consists in designing the new strategy, aligning the brand’s identity, narrative, and interactions to its new moment, as well as to its goals and needs.
After all this process, the brand is ready to implement the strategy and position itself in the market with more certainty of its goals.
What are the benefits of Rebranding?
When done at the right time and managed strategically, Rebranding can bring several benefits to the brand.
Some of them are:
Connecting the brand to the demands of the market and the contemporary consumer;
Increase of competitive advantages/differentiation in the market;
Generation of value for the brand;
More positive brand associations;
Reaching a new target audience or entering a new market;
Innovation and brand evolution, along with recognition as a modern, up-to-date brand.
But maybe you are still wondering… how to know if my brand needs Rebranding for 2023?
Going through a Rebranding process is a strategic decision. Knowing this, Essence Branding prepared exclusive material in partnership with Thomas Eckschmidt, co-founder and CEO of Conscious Business Journey and one of the co-founders of the Conscious Capitalism movement in Brazil, to help you discover if it is time to update your brand! Take the quiz and find out.
Finally: don’t be afraid of Rebranding, it can be a great ally of your business.
We know that there are many myths surrounding the Rebranding process. There are still those who believe, for example, that if a brand has history or is already consolidated in the market, it could not or should not be updated.
It turns out that, if managed strategically, the Rebranding process can be exactly the key turnaround that a business needs to build stronger connections with its audience or to position itself more assertively in the market.
We also understand that emotional connections to the brand may exist, both on the part of leaders and employees, as well as other stakeholders, which may incur some resistance to accepting a new brand. However, when you want to build a new brand perception, a refresh is always welcome! We must remember here that the essence of the business remains the same, but the brand will present itself to the public in a renewed and more assertive way.
Great brands such as Havaianas, Apple, and McDonalds, among many others, have already gone through this process and strengthened their positioning and connection with their stakeholders. Don’t be afraid to do the same!
If you have come this far and identified that it is time to update your brand for the year 2023, count on Essence Branding to help you in this process! Contact us through our website https://www.marcascomalma.com to learn more about how we build brand platforms that manifest the uniqueness of each business, revealing the value it generates to the world and producing strategic results.