What does it mean to rebrand?
Rebranding means changing the corporate image of your business, there are many reasons for a company to do this but here are the main ones we’ve seen during our time working with companies on their brand.
The Rebranding Process
The rebranding process can vary from situation to situation, in some cases it could be a new name that reflects a change in the company or could be an entire overhaul of the branding strategy, taking in to account branding elements such as slogan, brand colour palette, tone of voice and even how they do business.
The rebranding strategy should also be informed by looking at the marketplace as a whole, your customers, employees and competitors to help inform the decision.
If you’re looking to utilise your brand on new marketing material for your business such as a brochure, catalogue or exhibition design then get in touch with us at Palmiero Design who are graphic design experts.
Our top reasons to rebrand
Change of Product/Services
When a company comes out with a new product (range) or service, it might be the perfect time to consider rebranding its company image to reflect the new sector which it operates. A new product or service might also mean a new market or target audience. So, it’s important to consider these aspects when thinking about branding to ensure your messaging reflects this new audience.
Also, you need to think about what brand image you would like to convey. The new product or service can mean an exciting change for your company so you’ll want to shout about it. This would be the perfect time to review your existing marketing strategy and consider alternative marketing options/strategies to elevate your brand to the next level.
Change of Business Goals
When the focus of your business changes, it can mean a complete rebranding of your company to reflect its new objectives. As you rebrand, you should keep your new business goals in mind. Rebranding might be necessary if your current image does not align with your new business goals.
If the goals of your business do change, you might consider rebranding your company to adequately represent what you are trying to achieve. By rebranding your marketing materials to achieve the new objectives, you can be sure that your image conveys these goals and makes them more achievable.
Business Acquisition/Merger
When a business is acquired or merges with another there will usually be a rebranding process so that the company can show the marketplace that it has evolved or progressed or to highlight that the business is now part of another organisation family to ensure continuity.
When Facebook acquired Instagram overtime it tweaked it’s messaging layout and design so that you can tell they belong to the same family of businesses.
New Leadership Team
Another reason you might want to rebrand your company is when you have a new leadership team. A new leadership team will usually mean a change in focus for your company, or in some cases, it can be caused by negative issues such as business failings that mean the senior leadership team need to be replaced.
To overcome this negative connotation associated with the business, going through a rebranding would help the company to distance itself from the past leadership team/ company that it’s replacing.
Massive Change/Disruption in the Marketplace
A massive change or disruption in the current marketplace can cause customers to act differently and change or break their spending habits. When this occurs, a rebranding or more likely an updating of your current business structure may be necessary. Changes in customer habits, ethical shopping, and the increased use of social media are all kinds of marketplace changes that could mean a rebranding would be beneficial.
A good example is all the outdated commercials/taglines that these days would be regarded as discriminatory in modern times such as the old Yorkie slogan (it’s not for girls).
Changing Markets (Moving into Other Countries, etc)
You might consider rebranding your company if you are going after a different market internationally. This could be critical to the success of the transition internationally if the quality or pricing of your products has changed. Sometimes you might need different marketing materials or even a completely new name and logo if you’re going after new markets.
Examples of this are when a companies name could mean something else in another language, or their products don’t translate well.
Differentiation in the Marketplace
One way to achieve marketing success is through differentiation. You must strive to distinguish your product or service from the competition.
A strong value proposition will make your product or service more attractive to your target audience or market. If you are not seeing growth with your current marketing strategy, this could be due to the need to differentiate, therefore rebranding could be a consideration to help you stand out in the marketplace.
Negative Reputation
Sometimes a bad business decision can leave your product or service with a negative reputation. Rebranding by completely changing the image of your company might be necessary for future success. Rebranding can give your company a fresh start.
Rebranding to overcome a negative reputation might include repositioning to completely change the way your clients think of your company. You might also consider changing the name of your company or redesigning your logo to get rid of your tarnished image.
A new target audience could also be researched. Reaching new clients who you can give a better experience to could ensure future success.
Reduce Costs
Rebranding and updating your existing marketing can help to reduce costs by transitioning into newer marketing methods, if historical marketing methods are costly and don’t convert as well it can make sense to overhaul the material, modernising it and making it easier for your customers to make sales/become leads.
Improve the effectiveness of the Marketing
If your current marketing strategies have been less than successful, a complete rebranding might be necessary. Brand identity isn’t static. As your company evolves and changes, your marketing strategy should as well. When you improve your marketing, you give life to outdated materials.
You might consider redesigning your logo, business cards, brochures and mailers, and website to keep up with current marketing trends. It also helps to check out your competition so that you can stay a step ahead of the rest. Smart and effective marketing can help your brand to stand out and take your company to the next level.
Progression in the Marketplace (Technical Advancements/Growth)
Technological advancements are changing the marketplace and a business must keep up with the progression. Rebranding your company will ensure that your company stays relevant, keeping you ahead of your competition.
Because technology changes so rapidly, it’s important to keep up with the trends as your current marketing strategy can become quickly outdated. Responsive web design is a popular trend. Making sure that your website is optimized for viewing on smartphones is important, considering that a good portion of your clients will look at your website from their phones.
Keeping up with these trends is important because most people live on their smartphones. Digital marketing allows you to reach many people for a fraction of the cost of paper advertising. You can also create a targeted ad based on age, gender, and socioeconomic status to ensure that your ads reach the correct market.
Famous Rebrands
We thought it might be interesting to remind you that Facebook used to be known as ‘The Facebook’, the Diet Coke adverts used to objectify men and the apps on your phone changing their design over time in an attempt to resonate better with their audiences.
If you’re interested in help with your business rebranding get in touch with us for a free consultation.
