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.
