Whenever we discuss rebranding, the first thing that comes to our brain is why companies rebrand.
While we all know the pain of saying goodbye after building a business from the ground, it is always a good thing to rebrand. Doing so will help you grow your business.
It seems like a relationship that has derailed, however, while revamping your brand may seem dreadful, it allows you to give your brand a fresh look. Remember, even well-established and famous brands need a makeover and to reinvent their image. Coming back to the question, why do companies rebrand? Well, what was once working wonders for your brand no longer speaks to the audience in the same way it used to.
Rebranding is a common business move; many brands have been doing it for years. For instance, do you remember Apple’s first logo and aesthetics or Adobe’s or even Instagram’s? They changed the look of their brand without letting it affect your values and message.
A rebranding is often perceived as a subtle transformation that includes reinventing the logo, font, or the look of your brand.
When is it the time to rebrand?
1. When you feel the brand logo no longer reflects your vision
2. When your brand looks like every other business
3. Your business strategy has changed
4. Your brand goals have moved or expanded beyond the original path
5. When you want to connect with new audiences
Reasons why companies rebrand:
For New Product Launch: Launching a new product or service is always exciting and is mostly a response to customer demand in the market. However, brands are required to put in the effort to reflect the update in the branding. Businesses want their new venture to be skyrocketing through the roofs, and a carefully strategised rebranding campaign will help get more information.
A decline in Customer Engagement: As we all know, everything is temporary, as time moves on and with more competitors emerging in the market, it can be complex to retain your customers. The moment you start to notice a solid decrease or drop-off in customer engagement, it is time to evaluate if there’s a need for rebranding. In such circumstances, one true chance to resuscitate your company from drowning is rebranding.
Got A Bad Reputation: If a company, for whatever reason, starts to go down the neverland, the impact can be paralysing. Rebranding works well for your brand by diminishing any negative association with the brand. It is important not to let exterior alterations affect the aspects of your brand and its values.
Mergers and Acquisitions: Changes in brand ownership will trigger a rebranding, for example, in case of a merger or demerger, a brand that has slipped off will be aligned to work on a new brand. it is important to showcase that they no longer associate with the company. There is always an opportunity for a brand to completely rebrand, even if they keep the same name.
Distinguishment: Competitors are a part of companies across the globe. The moves of a nemesis or rival can trigger a response within the walls, and your competitors play a fair role in affecting your decisions. Since many of your rivals look like yours conveying the same message, rebranding helps make your company look different and unique.
If you look at rebranding as an investment instead of as a cost or benefit, you can command amazing ROI for your products and services driving better customers.
Are you ready to give your brand the makeover it needs? Do you feel like you can use expert guidance? If you are nodding yes right now, holler at our professionals. We, being the leading branding agency, take immense pride in helping you plan a rebranding strategy.