What is the best branding move companies can make when trying to pivot or change their image?
Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most successful young entrepreneurs. YEC members represent nearly every industry, generate billions of dollars in revenue each year and have created tens of thousands of jobs. Learn more at yec.co.
1. Do the Groundwork
A successful pivot or rebranding exercise is a result of careful research. This step gives you a clear picture of your brand’s existing position and where it can go. Find out what your target audience likes about your brand and what it would like changed. When targeting a new demographic, tap it for some insight first. – Derek Robinson, Top Notch Dezigns
2. Listen to Your Customers
When trying to make a branding change, it’s important to listen to your customers and find out what they think you can improve on. If they think your brand looks too old, then it’s time to make it more modern. Or maybe they think it looks too professional, and they want something more relatable. Pay attention to what customers say about your brand on social media, and survey them as well. – Chris Christoff, MonsterInsights
3. Be Open, and Embrace the Change
I always come back to the Domino’s Pizza campaign when they reworked their recipe. They owned up to their quality issues and brought the whole world into their effort to rework their pizza. It seemed like everyone respected their decision and their openness. –Natalya Bailey, Accion Systems Inc.
4. Understand Your Mission Statement
Apple, which was ranked as the world’s most valuable brand by Forbes in 2018, lends much of its success to its dedication to its image in every level of the company. Whether an employee is an engineer, a designer or a sales representative, they understand what the company strives to be. And it shows because from stepping into the store to unboxing a new device, the customer understands it too. – Robert De Los Santos, Sky High Party Rentals
5. Tell the Story Effectively
So much of what we do as startups is storytelling (this is true for other companies as well), and to successfully communicate a pivot is to explain, tell the story and share with the world how the leap from one to another made sense. – Ilya Bodner, Bold Penguin
6. Understand and Explain Why
Make sure your new brand answers the “why” question, which tells your customers the reason you’re in business. A lot of brands don’t do a very good job of this. Additionally, clearly explain why purchasing your product or service will benefit the lives of your clients. – Andrew Schrage, Money Crashers
7. Prioritize Customer Relations
8. Keep It Simple
Many well-branded companies are using one-word names that are hip, easy to remember and describe what the company does. When rebranding your image, a simple, fun and descriptive name and logo change is the best way to go. – Jared Weitz, United Capital Source Inc.
9. Pivot Your Brand or Your Business — Not Both
10. Revisit Your Target Demographic
Pivoting is more than just adding a new color palette or tweaking your logo. It means refining your brand’s voice and tone. The best way to do this is to revisit your target demographic. Start with your audience and what they need so that your rebranding efforts will resonate with the people who will ultimately help your brand become successful. – Shu Saito, Fact Retriever
11. Make Changes Incrementally
Start small. In most cases, you want to remain somewhat recognizable as the company that you were before rebranding. Subtle tweaks to voice, aesthetics and products can signal major change when implemented with a directed strategy. More importantly, do your research and understand the market that you’re targeting. – Raad Ahmed, LawTrades