In business, there will come a time when it will become necessary for Rebranding. For some, it happens early on once they have recognized who they really are while others have outgrown it. Realizing when to rebrand seems hard that is why there are important factors that suggest “it’s time to change.”
What Does Rebranding Mean?
Rebranding is a marketing strategy which implies the change of an established brand or a product of the company. It is with the intention to influence a customer’s perception of the company, or a product or service. Rebranding a brand or product develops a different identity from its competitors in the market. Changing the logo, name, symbols, design, or a combination of all of them will draw more attention to consumers and investors.
Today, we are living in a digital world where trends are constantly changing, and it is difficult to maintain a modern image. Supposing that your company has a plan to rebrand, it is crucial that you know the reason behind it. Though there are various reasons for rebranding a company, the most important goal is to connect with its customers. Rebranding is beneficial for the business. On the other hand, it can also be risky. There will always be a possibility for your consumers that when a change takes place, they feel compelled to weigh in.
Once you have decided to rebrand your business, it is time to study at some of the rebranding elements you can change. These are very important so you need to individually understand them with the benefits they can bring to your company.
The name is the first noticeable brand element. Rebranding does not always mean that you need to change the name, though it can be an effective strategy. Especially if the company aims to have a fresh start.
Changing a name can lead to the possibility of turning away or losing old customers. A fresh start is a mixed blessing. Therefore, make sure you are more than willing to give up your established brand name in support of a new brand identity.
Tagline and Slogans usually blend together in connection with the brand’s name. Generally, a tagline is a catchphrase that briefly states about your business and is a memorable line. A tagline often makes or breaks the company by speaking to or alienating its potential customers. If you intend to change your brand name, then the same goes to your tagline all the more if your business has also changed.
As the digital world influenced a large part of our lives, we have witnessed companies have undergone the rebranding process. Companies rebrand their logos to adapt a modern image and to be more suitable for online marketing. Similar to fashion and hairstyles, logo designs also cope with trends over time but you should also be careful. Of course, you don’t want to go beyond the original logo except when you are trying to cover up your past. You want people to accept the change and at the same time acknowledge the company’s continuity. Why is it advantageous, or even essential, to change your logo design? In essence, it is the easiest way to establish a change to your customers.
What is vital to a successful rebranding campaign? The answer is content. A common misconception is that rebranding only means modifying the logo or adjusting the color design to adapt to the modern market. A change of name and visual identity is of no importance if you didn’t make any difference about the way you do business. It could be new services, strategies, vision and mission, and so on. Take note that before implementing any changes, you need first to study your market and find out what your goal really is. These findings should be your guide in creating content, it contributes to your brand to see clearly the vast opportunities and start new ventures.
In conclusion, rebranding is essential for the long-term health of a company. Sometimes, a small change can even make a difference in a customer’s perception. You should bear in mind to strengthen your call-to-action, and your goal is to finish what you have started successfully.