Another Apex Minute“Don’t Be Afraid to

Rebrand Your Business”

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Rebrand Defined

Rebrand means to change the corporate image of a company or organization

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Why Do Companies Rebrand?

• Restore a negative image

• To bring current an outdated company image

• To re-establish a product or company following a merger or bankruptcy

• Drastic decrease in sales or customers

• Customers leaving for the competition

• Change in ownership and management style/philosophy

• When your company image and function don’t match

• You’re constantly attracting the wrong audience or customers

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When not to Rebrand

• New management or ownership but nothing within the company changes

• Everything works perfect, you’re just tired of the look

• You have internal issues that don’t affect your customers

• You can’t afford to do it right because of budget restrictions

• Customers have an emotional attachment to your brand

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Is it time to rebrand?

Every business has to rebrand at some point. Staying relevant is essential for continued growth. Don’t worry, you’re not alone; Pepsi has done it 11 times, Starbucks has rebranded 4 times, Apple has rebranded 13 times and Microsoft at least 7 times. If you stay in business long enough, it’s gonna happen.

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Is it time to rebrand?Here are some reasons to update your branding.

1. Is your logo outdated? Are you using current fonts and colors?

2. Is your brand associated with any negative press?

3. Does your brand make your company stand out?

4. Does your brand appeal to your current target audience?

5. Is your brand too similar to a competitor or other major brand?

6. Have you changed your name, location or target audience?

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Is it time to rebrand?

The world is constantly evolving and you have to be willing and ready to adapt. Surprisingly rebranding doesn’t always include a name change in most instances and at least 50% of the time the logo remains unchanged.

If what you’re doing if failing drastically, it’s time to step back and reboot.

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What to Expect from Rebranding?Companies that have undergone successful rebranding have confessed to experiencing the following:

• Improved focus

• A more competitive advantage

• Greater confidence

• Stronger recruiting

• Improved company awareness

• Better lead generation

• Increased revenue

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The Rebranding Process

Step: 1

Figure out why your company needs to rebrand.

• Are you trying to make your company stand out among its competitors?

• Are you trying to rebuild a damaged brand?

• Tire of consistently attracting the wrong type of buyers?

• Recent merger?

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The Rebranding Process

Step: 2

Do your research and determine what changes need to be made.

• Poll employees

• Get client feedback

• Create a rebranding team (or hire an agency) to help with conducting surveys, checking out your competitors, re-examining your product or service, etc.

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The Rebranding Process

Step: 3

Remove personal biases.

Sometimes it’s hard for the decision-maker or owner to let go because they are emotionally invested, but you have to do what is in the best interest of the company if you want to be successful in your rebranding efforts.

JUST BECAUSE YOU LIKE PINK, doesn’t mean that it appeals to your target audience or is right for your product or service.

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The Rebranding Process

Step: 4

Decide how much rebranding you want to do.

Will you be doing a total or partial rebranding?

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The Rebranding Process

Step: 5

Estimate the rebranding costs and create a budget.

How much money will you need to invest in your company rebranding to have things professionally done.

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The Rebranding Process

Step: 6

Create reasonable timelines.

This will help you stay on task and get your rebranding done with as less stress as possible and keep you close to your budget.

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The Rebranding Process

Step: 7

Create a marketing plan.

Develop a marketing strategy to introduce your new brand.

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The Rebranding Process

Step: 8

Test, Test, Test!

Use your marketing department to help you test your new changes by getting feedback from your current customers, staff, focus groups, etc. w

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The Rebranding Process

Step: 9

Rollout your new branding.

• Coordinate your release. Create some buzz and rollout your new brand with press releases, a publicized event, newsletters, etc.

• Update your brand everywhere! This means social media, business cards, website, marketing materials, etc.

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Have additional questions?

Call us today at 866-874-3647

Or visit us online at www.apexassisting.com

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