Big brands can become immortal and virtually ubiquitous – how about century-old businesses like Coca-Cola, Kellogg’s, and Harley-Davidson? One of the main concerns of every business manager or owner is to create a strong brand, especially when the business is just starting or a new product is about to be released.
Of course, that is easier said than done, and sometimes you’ll face problems along the way connecting with your audience. In these cases, a rebranding may be necessary. A rebrand is like plastic surgery on your business image. Sometimes it is enough to change the slogan, other times the colors or even the logo design.
However, there are cases where you will have to change everything, as if you were starting from scratch, to correct the course of the company and connect to your target audience. We will analyze four signs that serve as an indication that the time has come to adopt a rebranding strategy.
1. A Dishonest Representation
When your brand is already very old and outdated (something common when you inherit a business from your parents, for example), and no longer reflects your values or the values of today’s society, the time has come to upgrade the look of your business.
Given the cultural and behavioral changes of the last decades, it is common that a brand’s image doesn’t continue to match how it is perceived or represented in society. Have you noticed how some famous packaging has been re-evaluated and redesigned recently after consumer protests over allegations such as racism, stereotyping or cultural appropriation?
If that’s the case with your brand or business, maybe it’s the right time to update it or discover a new image that better speaks to your audience now.
2. Too Similar to Competition
When your brand is too similar or indistinguishable compared to countless competitors out there, you will have to find ways to stand out from the rest. Just imagine attending trade shows and other events where companies are both exhibiting/presenting their products and discovering that your slogan or logo colors are identical to a competitor’s.
A rebranding strategy can help you differentiate yourself from rivals and adopt a unique, easily recognizable look. In addition to assisting in your marketing efforts, this is essential to improve tradeshow booth attendance, allowing your company to become more appealing to potential customers or business partners.
Among other aspects that you should consider, these are the most essential changes that can be made:
- A new brand voice, with vision, mission, and values updated for the new times.
- A new name for your company, even if the change is very subtle (you can modify only the word’s spelling, for example).
- Update your slogan to make it easier to remember.
- Completely rebuild your brand identity by changing logos, color palettes, typography, etc.
3. Market Speed
Every element of your brand (the logo, the colors, the slogan) was designed by professionals to connect your company with your potential customers. But the current market changes very fast, and the strategies that worked 15 or 20 years ago no longer speak to a new type of consumer.
Sometimes a brand is falling behind on market changes or the market is experiencing significant shifts and changes. In either case, rebranding can help your business stay up-to-date and reach a completely new customer profile.
4. Following Business Moves
It’s very common today that two or more companies that were once rivals decide to join forces and merge. Even if this is positive for accounting, the consumer of one brand or another can be completely lost in the face of these business moves.
In this case, a rebrand is recommended following the conclusion of those business dealings. What will be the new name of the company: a merger of the old brands or something completely independent? And what will be the main changes in strategy and marketing?
All of these questions can be answered by a good rebranding strategy, building trust to reassure those loyal customers, and attracting new ones in the process.
Does Your Brand Need a Facelift?
Rebranding can seem like a bold (and even a little scary) strategy at first. But today’s market is like that: sometimes it requires risky bets. Changing what already seems too old or outdated is the key to standing out from the competition and reaching a completely new audience.
Start thinking about rebranding strategies when your image is no longer working. But think very carefully about the best way to do this. Sometimes it is enough to change the colors of the logo or adopt a more modern, flashy slogan; in other cases, however, a complete renovation is the best solution.