6 Reasons Your Company Should Rebrand
posted on December 16, 2020
Definition of Rebranding
Rebranding is the process of changing the corporate image of an organization or to simply put it born again. There are many components behind the corporate image, it can be a business model, business strategies, business trademark, or brand identity. The aim of rebranding is to develop a new, differentiated, and unique identity in the minds of consumers, investors, competitors, and other stakeholders.
It’s not a secret that every company wants to keep growing steadily however, the reality is far from that. There might come a time when your sales numbers are stuck and hit a plateau, or you wonder what you should do when your business direction has changed. Rebranding might be the answer to those dilemmas.
Here are some key takeaways to decide whether your business needs a rebranding or not:
A major change is happening or impending
Change is vital for every business’ growth, hence change is always needed from time to time. You might change your business direction, be it a complete change, evolving to a new field, or the business no longer reflects the company’s vision.
The rebranding process can help you to take the back seat and ponder which direction you want your business to be moving forward to.
It is never a good sign when your brand is perceived as old-school or antique. The rebranding will give your brand a new lease on life for decades to come and will revive the face of your business, meaning a whole revamp and an updated look of your brand to the public eyes.
When you first set up your business, having a targeted clientele is a must. As time goes on, requests come from people that do not fit your target audience and action needs to be taken. It’s crucial for your business to reach the targeted audience. Reposition your brand’s vision, adopt new strategies, and brand identity in order to hit the bullseye.
Incomplete brand identity
Decades ago, a brand identity consisted of just a logo, a primary color palette, and typography. Detailed brand elements such as photographic style, visual language, and a secondary color palette had not been defined back then.
Today, these detailed brand elements are vital to keeping your brand identity consistent throughout its many brand expressions and implementations. It is never too late to develop those important brand elements.
Too similar to other brands
If your brand is too similar to other brands, or even worse it’s similar to your competitor then it’s a nightmare, but it can be fixed with rebranding. Rebranding your brand can make sure your brand is distinctive and stood out among the rest. So when people are looking at the industry you’re in, your brand is the first thing that came to their minds and attracts their attention.
New business strategies
Every business needs to rethink its strategies every so often. A change is always possible, be it a change in their target market, a change in how to approach their consumers, or even a change in the business’ vision and missions. So in accommodating those changes, a brand rejuvenation is recommended as a way to communicate the business’ new aspect and direction. A brand rejuvenation or rebranding can refresh your business and change the way people perceived your brand.
If your company ticked at least two out of those points mentioned above, you have take rebranding your business into serious consideration. Rebranding might seem like a scary journey to go through, but it is worth it in the long run.