Everything You Need to Know About Rebranding
Rebranding is the process of changing the image of a company or product. The aim is to make the new image more attractive to consumers. It is a marketing strategy that involves changing the logo, name, symbols, or a combination of all of them.
A rebranding process that goes wrong may break a company’s connection with its loyal customers. It can even take away the whole meaning of its brand!
The rebranding may be in response to changing consumer habits.
Changes in the target market, an acquisition or merger, or even the era we are now in can be reasons to do a rebrand.
The former Director of Marketing at Softchoice, Edwin Jansen, once said, “Brands are no longer what they say they are. Brands are now what their customers say they are because (those customers) no longer have to listen to a brand anymore. They can listen to their peers.”
Not only can updating your brand enhance your organization’s credibility with your audience and their peers, but a rebrand can help your business:
– Gain a competitive advantage
– Communicate an updated aesthetic
– Generate leads to increase sales (growth!)
– Gain visibility in your industry
– Attract employees that are a good culture fit
Types of Rebranding
Partial Rebranding — This strategy is used when you decide to add something new to your current brand without totally changing it. A refresh is necessary when your company’s logo and image have become outdated or there has been a slight shift in your business objectives.
Total Rebrand — This option is used when your company has had a foundational shift like mergers, a change in leadership, product overhauls, etc. As a result, your brand needs to change its brand identity along with your brand mission, vision, and values. Here comes a complete makeover.