Rebranding. It’s a tricky topic and one that shouldn’t be taken lightly.
Whilst rebranding unnecessarily can do more harm than good, it’s important to remember that – when done correctly – rebranding can expose your business to a whole new audience and boost your success tremendously.
Rebranding isn’t a dirty word – after all, some of the most well-known brands like Apple, Pepsi and Starbucks have all undergone the process several times during their lifespans.
Embracing change is good, but you must remember to really consider why you are making those changes. Rebranding is not simply unveiling a fancy new logo every couple of years and hoping for the best.
Today, we’re taking a closer look at the reasons why you may wish to rebrand your business.
You need to reach a different audience.
As your business develops, so do your customers.
Either they move on and grow up, or you might see an opportunity to target a different demographic.
A great example of this is the financial services. For a long time, companies focused their marketing on attracting older, asset-rich individuals. However, as younger people and families become more affluent and increasingly financially aware, many firms are now looking at repositioning their services to cater to a new market.
You’ve repositioned and refined your offering.
A business’ core mission can change or be outgrown as the years tick by.
Perhaps your idea hasn’t panned out the way you thought it would, or maybe you’ve already achieved that mission and are looking for a new challenge.
Airbnb is a brilliant example of a company that quickly outgrew its mission.
At first, the app was a budget-friendly tool for travelers to save money by hiring out people’s spare bedrooms. However, as the listings became progressively more bespoke and high-end, the app rapidly transformed from offering futons to unique experiences.
In response to this, Airbnb evolved their look to combine their values with a clean and mature design.
You wish to embrace the now.
Design trends come and go. We’ve spoken before on this blog about creating timeless designs, but it’s okay to ensure your logo and branding stays ahead of the curve.
Apple reboots its iconic logo every decade or so. Since the late 70s, Apple’s logo has been the classic symbol we’ve all grown to know. However, they have made changes to it to fit with the times as decades have gone by.
You need to address a problem.
Another reason that businesses choose to rebrand is to solve a specific issue or move away from negative connotations with their previous branding.
Burberry is an excellent example of this. They have transformed themselves back to a high-end luxury fashion brand after facing an unwanted stigma during the mid-naughties.
Your problem doesn’t have mirror this one, it could be that you have realised that you’re not targeting the right people. Or, it could be that your branding fits in with your traditional industry and you’d like to stand out.
Rebranding is a great way to start fresh and really hone in on what makes you you.
If you’d like to discuss a rebranding project, please get in touch with us today.