The Road to Retail Rebranding Success

Jennifer Hahn Masterson
Guest Contributor

Rebranding is a process that can be very challenging, but if performed well, it enhances existing customer loyalty, expands your customer base with new shoppers, and facilitates increases in sales and profits.

The rebranding process is a common course of action for many retail companies. Some businesses will have to deal with it because the existing identity failed to resonate well with shoppers, while others will opt for it because they plan to expand their target audience. As it involves developing fresh, captivating solutions that should differentiate your retail company on the market, giving you a competitive edge, rebranding is not a simple process and you definitely can’t treat it as one of the daily tasks. Bearing in mind that this activity will demand plenty of time and effort, these guidelines should help you perform rebranding of your retail store effectively.

Start from the elementary things

It’s pointless rushing into any process without having solid foundations and carefully planning the course of action, and creating a new identity for your retail store is no exception With this in mind, make sure to set your mission, vision and values clearly. Knowing what you’re striving for is one of the key elements of any operation. As long as you have plain and straight-forward goals, your retail rebranding journey should be heading down the right road.

Work together

Your brand and its identity is comprised of the actions and behaviors of everyone in the organization, and it means developing a new, amazing brand image requires the input and support of different segments, meaning that you’ll need a lot of creative ideas and even more feedback. Therefore, let everyone join the rebranding process and see what each and every one of them have to offer. Think of it as of an opportunity for everyone in your company to bond. There’s no better team building than working together in order to come up with something great and innovative that will sweep shoppers off their feet. In the end, their opinions are what matters the most, right?

Know the market

You should understand your customers’ needs, but also know what’s going on in the retail market, who’s your biggest competition, and what in the past has proven to work amongst shoppers. According to a recent master course in advertising, the search for new ways of reaching customers has never been so intensive. Contemporary buyers are inundated by messaging through a constantly rising number of platforms, which makes them more cynical, less likely to get easily swayed and more likely to detect marketing messages that are insincere or unauthentic. You should bear all this considerations in mind when developing the revamped identity that will increase your shoppers’ base.

Take out the trash

Whether the ratio is huge or not, there are probably some things regarding your current brand that you’d like to keep, as well as things that you must get rid of. It’s very important to separate these elements carefully because, unless your company went through a huge failure, there are obviously some things that got you the customers that you currently have. You can ask employees, friends, and even shoppers to see what they think should be drastically changed or excluded.

Keep an eye on everything

Even though this might seem very chaotic, it’s actually very important to develop a strategy that will take care of all aspects of rebranding. You can’t let anything remain unaffected; even if it’s something you’re going to keep, you first have to evaluate in order to realize that you’ll keep it! As long as your plan is thorough and covers everything, you’re good to go.

Let them know it’s coming

If you’re thinking that you’re done once you’ve finished rebranding your retail store, you’re wrong. The final step is to introduce your new brand to everyone. It would be a great idea to think of a special campaign to announce your new brand to your current customers and another campaign for everyone else. However, bear in mind that it won’t be enough to just change the logo and the looks of your retail space. Make sure to reflect the change on social media, blogs, website and advertisements because from now on, your old brand is replaced with new one.

As you can see, rebranding is a process that can be very interesting, and if performed well, it almost guarantees sales increases and a larger clientele base. If your current customers are happy with the rebrand, you can rest assured they will let other people know about your business, helping your store attract new shoppers.

About the writer: Jennifer Hahn Masterson is a senior business strategist, holding an MA degree in business communication. She is always doing her best to help her clients find their place in the ever so competitive business arena.

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