While rebranding gives a much-needed boost for businesses, many business owners are hesitant to rebrand their businesses to fit in with the time. And we understand their concern. Many entrepreneurs do not know how, why and when to rebrand their businesses, plus it costs time and money. But if done properly, rebranding can give you the much-needed boost for your business. That’s why, in this article, we’ve written all you need to know about rebranding, and how to know if your business needs one.
Rebranding is the redevelopment of a brand from its previous setting and form, to a newer form. There are different levels of rebranding, which means that you can go for either a partial rebrand or a complete rebrand of your business. For a total rebrand, you will have to consider changing the following aspects of your business to connect better with your audience:
- Internal brand
- Brand positioning
- Brand personality
- Focus messaging
- Customer communication
- Visual identity
- Logo and mascots
- Assurance policies
- Social pages
- Business cards
- And more…
Properly renewing these aspects of your business will help alter the existing audience’s perception of your brand and help draw a new intended audience towards it. Check out these 6 signs that you should rebrand your business.
The cost of rebranding
The cost of rebranding depends on the status of the brand, to be specific, where the rebranding is starting from. Before you start, you need to understand whether your brand exists or not in the first place. In order to have a brand, you definitely need more than just a logo and a website, which are, having a position in the marketplace, a method behind the messaging and a brand personality designed to shape the mind of the audience, to name just a few. These are some of the aspects that will determine the cost of a rebrand.
Not rebranding will ultimately cost you more than rebranding.IPOINT INT
Another factor to consider when it comes to cost is what kind of assets your business has, which determines what kind of deliverables are needed. Rebranding an online business will cost less than rebranding a physical one, as it may have offices, shops or vehicles that need to be redesigned. When counting costs in light of assets, the following should be taken into account:
- The number of employees that require training.
- Exhibition stand and booth redesign.
- Exterior and interior office signage redesign.
- Vehicles, uniforms, equipment and sponsorship updates.
- Rearranging recruitment policies.
- Educating key stakeholders.
- Renewing websites and social media pages.
- Renewing logo and its variations
Based on the above-mentioned factors, every organisation will require a different budget to rebrand their business. To get an exact quote for rebranding your business, feel absolutely free to contact us so we can calculate the deliverables needed and give you an exact figure. No commitments are required!