In a life circle of a brand, there is a stage that your brand slows down and is even on the edge. It’s time for the owner to take a look and find out a new way to bring the brand to the market again. In many solutions to consider, rebranding is a good idea and necessary to do. So what is the purpose and reasons to rebrand? Why is it important? Let’s find out!
1. Your Brand Is Out of date – One of the biggest reasons to rebrand
How long did your brand create? Is it still impress the customers?
If the look of your brand is stale and it doesn’t bring any feeling, a rebrand might be taken into account. If you haven’t had a rebrand since you started the business, it’s probably in need to remake your brand that is modern, eye-catching, and future-proof. Don’t let your old-school visual identity hold your business back!
There’re some specific cases that a brand need to remake:
- It does not represent the new products and services you offer
- Your logo just looks old-fashioned making your company look out of touch
- You have a new target audience and your image does not appeal to them
2. Changing markets
Change in the market is when your brand is expanded, internationalization or repositioned. In any case, many brands have identities that don’t reflect their current brand strategy or offerings. It’s when they need a rebrand to:
- Reflect on current market dynamics to gain an advantage
- Express your company’s evolution and appear bigger
- Stimulate growth by improving your brand
3. Your brand is similar to someone else
Market changes and evolves, thus brands do their best to keep up and defeat competitors. In the same industry, there’s nothing that can ensure that all brand ideas are different from the others. Moreover, branding that is likable to another brand could make your company look unoriginal which may affect your success. Thus, when a brand starts to look like yours, it’s time for you to rebrand.
4. Reflect on new target, products, offers, or audience
It’s a waste if your company is growing but your brand doesn’t reflect it. If you’re going to offer new products or target a new audience, rebranding is a great way to show that your business is developing. When you focus on new aspects and promote them correctly, people will get impressed. Rebranding can be a big motivation for your business to create a brighter future.
Remember Facebook In.? They gained a loud blast when changing their company from Facebook to Mega. It’s an essential step to growing big in the AI industry.
Working with Top Branding Agency in Melbourne
5. You’ve Merged or Acquired
When the business ownership changed, such as mergers or acquisitions, it’s the right time to rebrand. The purpose here is not only to bring a new appearance but also to comply with legal requirements. An acquisition marks the period to redetermine audiences, product set, or geography. It’s also crucial to restate key messages and the brand heart. When it comes to mergers and acquisitions, the new company may grow a completely new brand, or use the existing name of the bigger party.
One of the best ways to set your company’s offers and approach apart is rebranding. Making your brand easy to distinguish from other shows potential clients that your services are unique—and that you’re the experts. Rebranding your company to have its own voice, look, and feel will help establish your business as an industry leader with a personality that appeals to your audience.
You’ve just gone through 5 reasons to rebrand. We can see that the importance of rebranding is obvious in many cases. However, the way to make it right is much more crucial. Just having the wrong step can lead your brand to a dead end. Thus, be smart to reborn your brand.
Let’s work together!