Rebranding delivers clarity and a revitalizing change for your brand’s future. As your company evolves and grows, you’ll need to periodically refocus your brand to reflect who you’ve become, what you stand for, and why it matters. Before you rebrand, it’s helpful to actually realize what branding is and how it works. Neil Patel offers a great overview in his video “What is Branding and How Does it Really Work”.
9 Reasons Why Your Company Should Rebrand:
1. Gain a Competitive Advantage
A well planned and executed rebrand can one-up your competition, excite clients, and counter loss of market share or falling sales. Identify what gives your company its unique edge then build your brand around it.
2. Fix Misaligned Marketing
If you operate without a branding style guide, your brand can become a jumble of resources. Using incongruent logos, type, color palettes, images, content, and tone of voice dilutes your brand. To present a consistent face to your clients and prospects, you’ll need to streamline and simplify your branding.
Getting a fresh, modern image is one of the most common motivations behind rebranding. If your brand looks dated, it’s time to refresh or rebrand. Don’t confuse “dated” with vintage. Vintage is stylish. Dated isn’t. A strong brand is striking. It can help you retain existing customers and attract new ones.
4. Signal Significant Business Changes
To stay competitive, companies adjust business models, and add new services and products. If you used to do A but now you do A and B, it’s time to clarify your message to reflect it. This often entails rethinking your brand to reflect what you do, why you do it, and why people should care.
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5. Show the Bold, Human Side of Business
Banish boring even if you sell the most mundane products or services. Tell your authentic story and illustrate it with branded marketing campaigns and valuable content that surprises, delights, teaches, and inspires.
6. Counter a Negative Image
It isn’t easy to distance a brand from negative implications. Rebranding is sometimes used as a corrective measure, but it’s not always successful.
7. Promote a Name Change
Changing your name provides the perfect opportunity to examine and rethink your entire brand from the ground up.
8. Reposition for Company Growth
Startups often begin without having a professionally designed brand. However, brand building becomes an important aspect for young companies so that you’re taken seriously as you scale and rise to challenge established brands.
9. Bring Together Mergers, Acquisitions, Ownership Change or Restructure
Changes of ownership or merging two cultures often requires rebranding to reflect the new company values, vision, priorities, and personality. This is also an ideal time to align your business strategy and your marketing strategy. American Express offers some solid advice in “7 Steps to a Successful Rebrand” on the OPEN Forum.
There are risks and rewards associated with rebranding, and it should never be taken lightly. Rebranding is built around sound strategy, a streamlined process, and a solid timeline. It’s best executed by an experienced branding professional who will guide you seamlessly through the process.
Your brand shows the world who you are, what you stand for, and why they should care. It gives your company an edge and helps you stand out. Carefully cultivate your brand and refocus it regularly so you can grow your company.
A strategist at heart, the process of change and re-invention fascinates her. She dives deep into regional and cultural differences, technology, why businesses rise and fall, and the customer experiences (CX) interwoven throughout.