It's important to understand that companies have multiple stakeholders including employees, customers, business partners and the communities within which they operate. And It is critical to involve representatives from them stakeholder groups in your branding process and take them on the journey one step at a time. Not only will they add value from their own perceptions about the organisations strengths and weaknesses, but they can highlight unforseen issues that could be solved by a rebranding effort.
All this goes towards building a more comprehensive, watertight business case for what your rebrand needs to achieve from a commercial perspective. Involving your stakeholders throughout raises potential issues earlier in the process, before they evolve into larger obstacles. And it gives you the opportunity to tackle these issues through more specific customer research or audience interviews.