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The benefits of Rebranding
Rebranding a business can be a challenging yet rewarding process, the benefits of rebranding are that it can breathe new life into a business. But it has to be done with a strategy, a process, thought, and most of all for the right reasons.
There are a few misconceptions about branding, the biggest one being that a logo is a brand, which of course it isn’t. Without preaching to the converted, a logo or identity is just a small part of a brand of a business or product, although because it’s often the most used brand device that communicates to a target audience it means that a logo is often what a lot of businesses concentrate the most on when rebranding. A business’s brand is all of the touch points that come into contact with a current or even potential customer, from it’s logo, to stationery, marketing material and websites, to a businesses premises, vehicles and how it’s staff communicates with it’s customer base. In short, a brand is the much bigger picture, but the brand logo, is on the front line.
There are many reasons to rebrand, some of which I will outline below, in no particular order…
A merger or take-over of a company.
This can mean a new name, a new logo, and a re-evaluation of all brand materials.
A period of considerable growth.
Not just on a financial scale, but maybe due to expansion a business may outgrow it’s current branding and therefore be missing opportunities.
Moving with the times.
Your current branding may look outdated and not suit your business now. It may be, that at the time of starting out, finances were tight so a logo was produced cheaply and quickly to “make do” but now it doesn’t suit the business or give the business room to grow.
A change in the company strategy.
Core target audiences can change from when the business first set out, which means it’s branding may need to be updated to reach the new target audiences.
Reflecting a change in the type of products that a business sells.
It could be that when starting out a business offered a particular type of product or service and a brand was built around that, even it’s name could reflect this. But as the business grows, it’s product line can grow, which can mean it’s branding needs to be adjusted or even a name change needs to take place.
To differentiate a business from other competitors.
Sometimes the branding of a business can look very similar to that of a close competitor. So potential customers may struggle to tell the difference. A business may take on a rebranding project in order to have more individuality and communicate why it’s different to it’s competitors and gain more market share.
The way that your business operates now may be very different to when it first set out, for example it may be more of an online business now, this can affect the business’s brand and how it is perceived.
So, are you considering a rebrand?
If so, there are a few questions that you should consider….
Why are you thinking about rebranding?
What scale of rebranding are you considering?
What changes (if any) have happened at your business recently that may affect your rebranding?
Have you compiled any research? Looking at, your competitors, the market that your business operates in, target market and technological advances that may affect your business now and in the future.
Do remember that a rebrand doesn’t have to be a complete overhaul of the whole company image, it depends on the reasons a rebrand is required, it could be as simple as developing a new strapline for the business, or it could be a revamp of the logo, keeping some familiar styling that customers associate with the brand. Or it could be a name change in which case it may be a larger project, involving all marketing material online and offline. The key is to plan, research and a consider what will your customers think of a rebrand.
If you are considering a rebrand, we would love to talk to you about it. We have lots of experience in rebranding and can help you to achieve your goals. Call us on 01295 26 66 44 or request a quote here.
Alternatively download our FREE essential “How we can help you move your existing branding forward” guide for more information and helpful tips.