Rebranding Strategy for Small Business

What is a rebranding strategy? 

A small businesses plan to update or redesign its brand identity in response to market, company position, or target audience changes is known as a rebranding strategy. Rebranding is done to make a company’s image more appealing to its target market while also being more effective and relevant.

How should a rebranding strategy be used? 

A rebranding strategy should be used as a guide for all brand identity decisions within a company, and should be used to inform and direct a wide range of activities, including:

• Updating or creating a new logo and visual identity
• Updating or creating new tagline, messaging and communication guidelines
• Reassessing and potentially revising brand values and promise
• Revising the company’s website and marketing materials
• Communicating the rebranding to internal and external stakeholders

What things should be included in a rebranding strategy? 

A rebranding strategy should include:

• A clear statement of the company’s goals for rebranding
• A detailed analysis of the company’s internal and external environment, including a SWOT analysis.
• A description of the company’s target market and target customers, as well as any shifts in these areas that may have occurred
• A detailed description of the company’s current brand elements, and proposed changes for these elements
• A detailed plan for how the rebranding will be communicated and rolled out to internal and external stakeholders
• A plan for measuring and analysing the success of the rebranding effort

How does a rebranding strategy benefit a small business? 

With help of COG Strategy, a rebranding strategy can benefit a small business by helping the business to adapt to changes in market or company position, creating a more relevant and effective brand that better aligns with the company’s goals and resonates with its target audience. Such as how to choose a business name; This can lead to increased brand awareness, customer engagement and ultimately boost in sales.

How can a small business use a rebranding strategy? 

A small business can use a rebranding strategy to:

• Reflect changes in the company, such as a new product or service offering
• Update the brand to be more relevant to a shifting target market or target audience
• Address branding inconsistencies that may have arisen over time
• Distance the company from any negative connotations associated with the previous brand
• Improve brand recognition, recall and equity

Why should a small business get a professional rebranding strategy done? 

A tiny company should hire experts to create a rebranding strategy because:

• A specialist can assist a small firm in determining the factors that led to the need for rebranding and the areas that require development.
• A specialist can offer a neutral and impartial viewpoint on the company and its market.
• A specialist can assist a small business in developing a clear and practical plan to accomplish its rebranding objectives.
• A specialist can assist a small firm in determining and concentrating on the key areas needed for success.
• A specialist can assist a small organisation in comprehending and implementing industry best practices and standards.

Is a rebranding strategy expensive? 

The cost of rebranding your small business can vary depending on the scope and complexity of the project, as well as the type of agency or professional providing the service. Some larger agencies may charge more for a rebranding strategy, while smaller agencies or freelance professionals may charge less. However, it is worth considering that a rebranding is a substantial investment, but it can bring a significant return on investment in the long run in terms of increased brand recognition, customer engagement and ultimately boost in sales.

What type of rebranding strategies are there? 

There are several different kinds of rebranding methods, including:

• Evolutionary rebranding: upgrading current brand components while preserving their essential identities
• Rebranding that is revolutionary: beginning from scratch and developing an entirely new brand identity
• Internal rebranding is rebranding that prioritises internal operations, culture, and personnel
• Rebranding that concentrates on a company’s public-facing elements, such as its visual identity and messaging
• Digital rebranding is rebranding that emphasises a brand’s online presence, such as its website, social media accounts, and online advertising efforts.

What sort of professionals deliver rebranding strategy services? 

Experts who offer rebranding strategy services include brand strategists, brand consultants, marketing consultants, and branding firms. They usually combine their expertise in corporate planning, branding, and marketing. Some people may specialise in rebranding or digital strategy.

Should you use a strategy agency or freelance brand strategist to perform a rebranding strategy?

The decision of whether to use a strategy agency or freelance brand strategist to perform a rebranding strategy depends on the needs and resources of the business. A larger company may have the resources to engage a larger agency, while a smaller company may prefer to work with a freelance brand strategist.

COG Branding can bring a range of benefits including a team of experts with different skills and experiences, established processes and systems, and access to the latest trends, tools, and technologies. They also tend to have more resources to invest in research and analysis and execution capabilities. However, this can also come at a higher cost.

A freelance brand strategist, on the other hand, might be more adaptable, less expensive, and able to provide a more specialised service. They could be able to offer a more flexible, customised approach to the unique requirements of the business. Small businesses with few resources may benefit from this since it makes it simpler to interact with them and allows for more individualised service.

In the end, a company’s specific needs, resources, and budget should be taken into consideration when deciding whether to hire an agency or a freelance brand strategist.