Recently updated on November 30th, 2023 at 05:36 pm
What is rebranding?
You must have heard rebranding a few times from different companies. But what is rebranding? Is it only a way to showcase your new visual elements?
Rebranding is a marketing strategy where you create a new name, concept, design, term or symbol for your established brand. Aside from giving your brand a fresh new look, rebranding your business holds a much deeper value in aligning your brand identity, products, services, and in a way that is relevant to your market.
Why would a business want to rebrand?
You might have already thought a lot about rebranding but are still stuck on whether you should push the idea. But no worries. You’re not alone. Many businesses have considered this idea and took a long time to decide. After all, rebranding depends on several factors that you need to consider. So, how do you know if it is already time for you to revise your business cards?
Here are the five signs of whether rebranding is a good idea for your business:
- Your old image is outdated
Your visual elements hold so much value in your brand image. It represents your company as a whole, including your reputation and brand personality. So what do you think is the first thing that comes into your audience’s mind when they see your old image?
We live in a world that constantly changes. You might want to add a bit of modern touch to your image to remain relevant to your audience. In doing so, take note that brand recognition and brand building always comes first when you decide to rebrand.
- You're targeting a new demographic
Your target audience is one of the core elements of your success. So you need to ensure that your products and services are always relevant to them. Otherwise, you’ll be spending more on your marketing campaigns that don’t deliver results.
But how do you keep the interest of your target market? If your business expanded, you need to consider rebranding to keep your values consistent and relevant. Remember, teenagers and late adults have preferences far from each other.
- A new competitor is threatening you
When you know the basics of marketing, it’s easy to build your brand across various social media platforms. However, your competitors also have the privilege of using social media. They might take your brand as an inspiration, and over time, you’ll both have the same identity that targets the same market.
In this case, you’ll need to make a move and step up your game. By rebranding, you can showcase your new appealing standards and prevent your market share from falling.
- Mission or values have changed
Your company’s mission and vision play an essential role in your brand identity. In essence, these are the factors that determine how you will position your brand. So, if there are any noticeable changes in this aspect, you should consider rebranding.
Let’s say that you envision your company as a leader of success and innovation. Considering all the core values you set for your company, you should present yourself using advanced technology.
- The original brand was botched
Some business owners get excited at the thought of launching their businesses. Sometimes, this may result in a poor marketing strategy that will drive your business to failure. While some try to find a way to save their companies, most of the time, rebranding is the best option.
Learning from your experience, you must already know that you need to plan everything carefully. If you work with the experts, you’ll also realise how important branding strategy is for the success of your business.
How to rebrand a company?
Once you ensure that your business needs to rebrand, it’s time for you to take action. In doing so, you need an effective rebrand strategy that will ensure your success. Make sure that you also have the necessary marketing materials to avoid unnecessary hassles in the process.
Based on your analysis, you now need to determine whether your business needs a partial or total rebrand.
Difference between Partial & Total Rebrand
Knowing the types of rebranding will help you optimise your time and effort in taking this step.
A partial rebrand can only be effective for established businesses. In this case, your target market already knows you well, but you are losing traction. So what you only need is to create a fresh image while maintaining the identity that your customers love. This may include applying a modern touch to your new logo design.
Meanwhile, if you have undergone a complete shift in your mission, vision, or business goals, you need a total rebrand. This also goes for those mergers, product overhauls, and other drastic changes in your business. You need to ensure that all these are consistent, and you can only do that by transforming all the aspects of your company.
In general, a partial rebrand is like a quick retouch, while a total rebrand is a full makeover.
Examples of rebranding
McDonald's
Like any other business, McDonald’s Corporation started from scratch. For years, they had to change their brand identity to match the message that they want to convey to their customers. Since their launch, they have already changed their logo six times, which gets better with each upgrade.
McDonald’s successfully rebranded their company by looking at its brand from all perspectives. As a result, they were able to improve their services by focusing on customer service, customer care, and employing effective marketing strategies.
Pepsi
When companies rebrand, one thing that most people notice is their logo. After all, it’s what represents their brand identity, like a name given to a person. Perhaps Pepsi is one of those that have made a lot of revisions with their logo. Over the years, they had already 11 logos since 1898.
Although the frequent changes of the logo may not be effective to most businesses, it’s different for Pepsi. After all, they want to present themselves as a brand that adapts to ever-changing trends.
Burberry
Burberry is a fashion design brand that has also undergone a rebranding. Initially, their products only included trench coats and distinct tartan plaid, which made them popular. However, they also added new designs to their collection, so they also expanded their target audience.
Since they wanted to keep their old identity, Burberry only created a fresh new look and remained recognisable to all their customers.
Uber
One of the reasons why Uber succeeded in their rebrand is because it also conducted a brand audit. After considering all the changes in their company, they implemented only the necessary steps. It included changing their logo to represent their brand identity.
Their new logo represents their brand as approachable and easy to read. It also makes them recognisable to their loyal customers.
Badoo
Badoo is a dating-focused social network that lets people connect and communicate. They started with a colourful logo and a bit of complex typography. As they upgraded their design, they decided to move forward with a simpler, easy to read font. They also added a chubby heart to their logo, which is a perfect fit for their avatar icon.
Their new look represents cleanliness and pure intentions, which also set them apart from other similar dating services.
Key takeaways
Rebranding can be very risky for your business. Your success will depend on your market and rebranding strategy. That’s why you must be sure that at least one of the signs mentioned above applies to you.
As a digital marketing and branding agency, one of our services here at Spark includes a rebranding strategy where we guide business owners to their success. Our team of experts will ensure to bring the best version of your brand, making it more appealing to your audience.
