They must also consider the impact of rebranding on their equity.
This article notes the factors a business must consider when going in for a rebrand. The author advises that brands must be able to recognise when they require to change the experience they provide instead of just changing a logo or designing a new website.
Companies must first be clear about the real reason for rebranding. One way to identify this would be to look at the disconnect between the brand experience a business is trying to provide and the actual experience with the brand.
Businesses must also consider how a rebranding effort could impact their equity with existing clients. They could then consider how they want people to know and feel about the brand. The article recommends assessing whether the company has a structure to support the rebranding efforts and the ability to deliver the newly developed experience sustainably.
[4 minute read]