What does rebranding mean and why should you rebrand?
Brand change can be any change to the brand, big or small. It commonly involves restyling a brand’s visual identity: logo, color palettes, typography, icons and photography style. On average, organizations change their corporate identity once every 5-7 years, and for a variety of reasons. Maybe it’s a repositioning driven by market changes. Or the brand is outdated and not digital proof. Or there is a merger, and acquisition, or a spinoff.
Whatever the motivation for a rebrand project is, there is no denying the benefits of rebranding and what it ultimately could do for your business.
1. Chance to Reset
Understandably, the most obvious advantage of a rebrand is that it allows a company to hit the reset button, so to speak. Rebranding gives businesses the power to control the conversation about their goals, values, and future.
2. Enhance Visibility
When a company rebrands, it rethinks virtually everything about its appearance. Ideally, this should help a company become more visible and recognizable. Introducing a quality logo, for instance, can make it easier for consumers to remember your brand. What’s more, many businesses alter the appearance of their website during a rebrand in order to appeal to consumers.
3. New Focus
In general, most businesses focus on one or two demographics when they market a product or service. This is a good practice. After all, the more specialized the targeting efforts are, the better chance you have of converting the leads you generate. Sometimes, though, companies want to shift gears and “go after” a new demographic or two. A rebrand affords companies the opportunity to reach out to new customers in an organic way. Rebranding signals that you’ve changed, and as such, are to open to courting a new type of customer.
4. Stronger Business Position
Have you ever encountered a group of businesses that looked, spoke, and acted in a nearly identical manner? If you brand bears a strong resemblance to those of your competitors, then changing things can help stand apart and realize a new, stronger business position. Remember, it’s always beneficial for a company to be eye catching!
5. Increase Revenue
At the end of the day, a rebrand can and should deliver increase revenue as a result of greater exposure. True, rebrands are about ushering in a big change at your company, but they’re also designed to enhance a business’s potential. No one rebrands to scale down.
6. The Bottom Line
Think your business is primed for a rebrand? Before you make any decisions on rebranding, give us a call to further discuss your options – so that you can make smart marketing, branding, and PR choices moving forward!
