Businesses all over the world have been devastated by the COVID-19 pandemic. According to one study, the pandemic forced over 200,000 businesses to close.
Several businesses hope to resume normal operations soon. The COVID-19 has created some long-term challenges that companies will have to consider. Employees are concerned about their health and the possibility of a permanent reliance on e-commerce.
As a consequence of the pandemic, companies will need to consider changing their brand to reflect the new normal. Every business owner should consider these post-pandemic rebranding considerations. Rebranding your company can be tricky if you do not know how to approach it. You may want to get help from a company like Experience Marketing Agency.
Make sure to take a close look at the company’s mission statement
Branding has one golden rule: Never deviate from the company mission statement. The rules of thumb can’t be applied with too much rigidity in business, as with any business rule of thumb.
Your company may need to change direction altogether sometimes. Considering the economic reality around your business will allow you to determine whether your mission is aligned. As a result of the pandemic, you will have to determine if the core principles of your business need to be overhauled.
Don’t let your e-commerce strategy detract from your primary brand
The pandemic has prompted many companies to start offering their products online. Many more people are now buying online to avoid being exposed to COVID-19, so this may be a prudent business decision. Over the course of the pandemic, the global e-commerce market reached $26.7 trillion.
Make sure your local rebranding is not undermined if you’re creating an e-commerce platform. Changing your website’s copy and content significantly will likely be required so that it appeals to people from outside your area. Local audiences, however, could be confused by this.
Before committing to a serious rebranding effort, consider your company’s current market positio
A COVID-19 pandemic, for example, may prompt companies to make significant changes to their business model. A company may need to implement these ideas if it is experiencing financial difficulties or if it is capturing a larger share of the market. On the other hand, there are situations when major rebranding decisions could backfire or even be unnecessary.
Rebranding your company doesn’t need to be a significant investment if it isn’t going to yield rewards. That would be a waste of money as well as lead to customer confusion.
Instead, you should take the time to thoroughly review the market position of your company. To determine if your market share dropped during the pandemic, you must estimate your share. Your competitors may be doing a better job in responding to the new normal if you lost customers. In this situation, you would do well to overhaul your brand’s image. You may want to be more conservative with the rebranding process if you hope to capture a large amount of market share.
Take as many external inputs as you can
A great deal of business decisions are made based solely on the perspectives of the management. It is important to remember that groupthink is a big problem in many businesses.
You may think that making significant changes to your brand is worthwhile after the members of your management team review it collectively. You should consider, however, the views of other stakeholders.
Brands can’t be changed on a whim. If you are going through such a monumental process, you will have to make sage, pragmatic decisions. You need the perspective of someone outside your organization who can help you plan your rebranding strategy. The following guidelines may be helpful:
- Get in touch with your customers. As to what they expect from your company, they are the best source of information. If you are considering rebranding, you should always consult with them first.
- If your business is friendly with your competitors, then it might be worth consulting with them. Every business is not at the mercy of unfriendly competitors. It can be beneficial for both of you to consult with your competitors in some situations. If you learn about what they suffered during the pandemic, you may want to think about what changes to make with your rebranding efforts.
- If you dealt with any problems during the pandemic, read industry publications to discover a possible source. Your issues may have more to do with other issues than you had originally believed.
While collecting intelligence on your company’s problems during the pandemic, it is important to do your due diligence. Getting multiple perspectives is a good idea.