Rebranding is a common practice for most of the companies,and there is no harm in it. Building up a brand is a huge undertaking task with extremely high risks. Whether it is creating a new brand or overhauling the image of an existing brand, both require extensive research and skills.
Rebranding can occur for many reasons; it can be if your startup failed to resonate or the brand is a losing their customers or any other. Brands usually go through rebranding process which is at times noticeableand at times they are so minute that they are not noticeable enough.
At some times we usually do not notice branding because the changes are not huge transformations but other times, rebranding can represent a more substantial effort and a loud declaration of a company’s growth and changes.
Well, the question here is how do we know it is time to rebrand? Here are some reasons that give a shout call to brands to rebrand.
When your brand is not successful:
Rebranding can have several faces from picking a new name to changing the entire business model. If your brand is performing poorly, rebranding is one of the excellent opportunity to strengthen your company’s presence and brand identity for your potential customers.
Useful Tip: Keep in mind that rebranding is an external process and the core activities of your brand must be adaptable to the changing shifts.
Other times, however, rebranding can represent a more substantial effort, perhaps to shift the consumers’ perception of a brand or to show a company’s progression with an evolving market.
Ask yourself, is it time for your company to consider a rebrand?
Where and what do we stand for? As a brand, are you standing for something unique or your brand is easily differentiated from all other brands? The answer to these questions gets to the core of the brand essence and identify the need to rebrand.
A brand must have the reflection of all the values and experiences you are building. It should be an image of your values and the practices you are building for your customers. You have to know what you stand for before you can stand out in any meaningful way.
There can be many reasons to rebrand including new management, international growth, bad reputation, business growth or an outdated image. No matter whatever the reason may be, it is important to create a profound brand that people will remember.
Why Steve Jobs changed the logo design?
In 1997, he changed the Apple’s logo design from a rainbow to a metallic one. There was not any flaw in the old logo design,but Steve came up with a more professional logo design that can stand with the changing trends, times and vision of the future Apple family.
Is your brand’s message or design is confusing? Has your business become a hodgepodge of offerings with no unifying brand objective? Then it’s time to make your audience glaze over by repositioning your brand. A brand showing increased complexity is a decrease in cohesiveness and here where rebranding becomes important.
Bad reputation or outdated image:
A company image becomes stagnant after staying for some time in the market and may not appeal to the audience. When a brand takes a substantial growth, they move towards a change,and the change might not get accepted with your audience due to an outdated image. Here, where rebranding comes into play.
To Attract New Customers:
By rebranding your image, your company personality, your target audience,etc., you can attract new customers and also rekindle interest from your existing audience.
Increase Customer Engagement:
Adding up every single intrinsic element in your branding, you have the opportunity to make a profound brand appearance. People get a chance to talk about your brand when they notice the changes you make in your brand.
The rebranding process is not to fear about, in fact, it the chance for the audience to talk about your brand positively. Show your existing and new prospects about the change you make in your brand.
Rebranding is not difficult; it is all about a change. When a business has reached a certain level, rebranding becomes necessary. The only difficult task here is to identify when to rebrand? If your message strategy has changed or your business’s goals have shifted,or you have made a substantial growth in your product lines then it’s time to take a step of rebranding.
Deciding Between Partial or Full Rebrand? To be considered!
Rebranding has two phases, a partial rebrand or full branding. Partial rebranding is making a slight change in your brands whereas a complete rebranding process changes the complete look and feel of the brand and done just once or twice in a year.
A full rebranding gives a feel of starting a new business. The key to branding is taking the process slowly because your customers are associated with your brand and making significant changes in your brand can lessen customers’ interactions and associations towards your brand.
Before you rebrand, notify your customers through social media, blogs or emails to show your customers their importance and make them realize that you feel for them and their association with the brand.
Finding out why and how to rebrand can make your process far easier and give you a direction for conducting a rebranding process for your company. Just ask yourself, are you differentiated enough from the competition?
Now, Question Here Is, Why Do Rebranding?
Let’s take the example of Harley- Davidson. What comes in your mind when you think of a motorcycle? Why just Harley- Davidson and not any other brand? Harley- Davidson has a strong brand image,and no matter what the brand goes through, it has a strong self –reliance and people don’t realize if the brand has any fall. In fact, it is still recognized as the most recognized brand in the market.
What Harley-Davidson Did?
In their rebranding phase, the brand did a product quality lift by bringing in affordable, manageable and affordable bikes to attract their new customers. The brand has made such a strong brand identity over the years that the change was hardly noticeable by their customers and it sailed smoothly.
When Your Competitors Do Better?
You need to research when you find that your competitors are doing better than you. Likewise, Harley studied the business of their competitors closely and picked their strengths and designed a smaller,manageable and cherry on the top it was affordable bikes for the new generation of riders.
Key Strengths- Harley – Davidson
The brand’s key strength was a strong brand image. When you have a strong brand positioning then whatever changes you make, you will still be ahead of other brands. The same strategy worked, and Harley has reclaimed its place among the leaders in motorcycle brands.
Now, Let’s Consider the Example of Uber,
Uber has been in the transition state in the past. It kept on changing its logo design several times and has been in a problematic reputation over the last years. Now, as of today, Uber has an entirely new look that is custom-made typefaces and colors in their logo design.
Markotos – Executive Director of Uber said that “It doesn’t make sense to build more equity into something that people don’t understand,” So, holding up to the old logo design was not good as it was not associating with the symbol Uber and the consumers don’t actually recognize and feel connected to it.
The company conducted a research and found out that the strengths lie in three things which are,
- Color Black
- The name “ Uber”
- The letter “U”
Brand Director identified the major points of the logo design and stayed with it.The new logo design is a word-mark logo design that read “Uber” with a capital U that created a more sense.
What is unique about Uber’s logo design?
If you notice, the right side of the letter “U” and the left side of the letter “b” in Uber’s logo design are actually two lines on the road. The lines indicate the road service for the passengers.
Isn’t it cool? The logo design is itself speaking about the brand’s values. With hope, that rebranding makes the rides better and will bring in more potential customers. Take a rebranding step when your company shows a progression or growth or any downfall.
You will never find a static market and competition,and it will keep on changing overtime,and every brand needs to keep themselves updated with the market changes. A rebranding is not changing the entire business; it’s letting your brand continue with the evolving changes.