The real-life pros and cons of a rebrand… by a managing director who’s just done it.
It’s a bold move in a sector where names are everything. April Coate has this week rebranded her agency JB Promotions to Coate PR.
The agency is well-known for elevating equestrian and country brands and events, and has many long-standing client relationships.
So why did a successful business decide to rebrand? And what are the pros and cons for businesses who follow suit?
Here’s April Coate, managing director of Coate PR, with a snapshot of what’s involved.
Deciding to rebrand your business is never a quick or easy decision. We decided to go ahead to reflect the journey we have been on following my acquisition of the agency in 2022.
We also wanted to highlight the growth of the business and the support we offer brands and events in our specialist sectors.
There are many factors to consider when deciding to rebrand your business. Your branding makes a difference to the customers or clients you are targeting and how you are perceived by them.
Why would you rebrand your business?
- Your company values and mission may have changed.
- Your service or product line may have developed.
- You wish for a fresh start – perhaps there has been a structural change in your business or you want to reset your public image and regain trust.
Pros of rebranding
- It can enhance brand awareness.
- A rebrand can generate a buzz and ignite curiosity around your brand.
- It can help businesses to attract more customers and break into new markets.
- It helps differentiate you from your competitors and is an opportunity for you to resell your USPs.
Cons of rebranding
- You must retain customer loyalty with your current customer base.
- It can be expensive as you will change your website, logo, social media channels, marketing materials, tradestand design etc.
- As you are rebuilding your brand, your sales may be impacted. Your current customers must be informed of your new direction and new customers still need to be won.
- For companies rebranding to overcome PR challenges, you may need to work harder to establish new relationships. Don't be surprised that it takes time for people to become aware of your new brand.
How to communicate a rebrand
As a PR agency, we know how important it is to communicate your rebrand effectively to your internal and external network.
Have a robust timeline of when you are going to communicate this and make sure you explain the reasons behind the rebrand.
Where possible, get your team involved; it’s great for them to feel that the rebrand is including them and they are involved in the decision-making process.
A rebrand is also an opportunity to regain customer loyalty and reach new clients. This is where public relations is even more important.
Now your new branding is ready, you need to distribute it. This can be in the form of features, press releases, interviews, social media posts, podcasts and more.
A rebrand might also mean new marketing strategies, so you need to re-evaluate your current marketing initiatives to make sure they align with your updated brand.
- Find out more about Coate PR at www.coatepr.com or get in touch on 07469 237495 or email april@coatepr.com.
