Have you ever been in a position where you feel unsure about your brand? Maybe the brand recognition you wanted to reflect wasn’t what you were expecting. Or the brand image doesn’t feel accurate anymore. Whatever the case is, we are sure that you have your doubts about maybe rebranding your existing brand in a new and fresh way.
If you want to know about the advantages and disadvantages that come with rebranding, we are here to help you figure out if that’s the best option for you.
Why do a rebranding strategy?
When people hear the word rebranding, sometimes they can get a little intimidated. But the truth is, there are many reasons why a company would want to rebrand its business. From wanting to change their brand values, to maybe expand their audiences and want to gain new audiences with their transformation. In short terms, a rebranding strategy is usually considered by a brand when they want to reestablish the brand in the eyes of the customer.
Is a rebranding strategy right for my business?
As we mentioned before, the main purpose of rebranding is to give your existing brand a new essence and wanting to change a lot of aspects of it. That is why thinking about rebranding your business can be a difficult decision.
The good
An advantage you can have by rebranding your business is that you can have the possibility to gain a whole new audience without losing the already existing customers you have and your brand identity. In the end, a new vision can also be an opportunity to grow without losing your brand’s uniqueness.
The following are just some benefits that you can have by rebranding your business:
Attract more customers
One of the gains that you can have by rebranding your business is the opportunity to win new clients and gain even more brand audience, this type of marketing strategy gives you the chance to find a whole new market that identifies with your company’s mission and vision. By expanding your business, an advantage you can see is that you have the chance to find loyal customers that will share the same ideals of your company.
This brand loyalty will make the customer an advocate for the brand. Which will attract more customers that will fit the new vision for the new rebrand strategy.
Differentiate from the competition
Another benefit you may find by rebranding your business is that it can help to define your key differentiators. Think about all the factors that make your new brand perspective different from your competition.
In the end, remember that having a solid competitive advantage translates into having a strong brand.
Reduce Marketing costs
An advantage you can find in rebranding strategies is that it allows you to change the brand’s vision for the business. This gives your company the opportunity to have a better understanding of the improved brand’s identity, explore the new brand’s audience, and think about what the brand represents to the new and old customers, all of these factors will help you with your rebranding strategy in order for it to have a better resolution.
The intention of doing a rebranding strategy, in most cases, is to improve things about your company to make them more functional and better. Successful rebranding effort when it’s done the right way, always comes with an increase in the effectiveness of all its new marketing strategy and product offerings.
Now that we have explained all the advantages of giving your brand a new life, it’s time to talk about the opposite side of the coin and explain some complications or disadvantages that may show up with rebranding your company.
The bad
Unfortunately, every action and decision we make has consequences, and this case is no exception. So far we´ve made it sound like everything is easy and you won’t find any disadvantages when it comes to rebranding, but we need to be completely honest and talk about some negative things that come with rebranding strategies.
Loss of Brand Recognition
One important disadvantage that comes with rebranding is the potential loss of brand recognition. If a company has established a strong brand positioning and equity over time, changing any visual elements like the brand logo can be confusing for existing customers. Abrand’s logo represents a strong visual identity of your company, so even this change can make the customer feel a little bit insecure and unsure about the company’s newest brand personality.
Along with this, a struggle with finding the new brand voice may come as well with the brand strategy. In the worst scenario, this can lead to the customers mistaking the business for a different one.
Disruption of business operations
Another disadvantage that we can find with a rebranding strategy is that it can disrupt business operations. A rebranding campaign demands careful planning and execution, which often leads to a temporary disruption in regular business operations. This interruption may affect the overall productivity and efficiency of the organization, which can be translated into delays in delivering products or services.
It might not sound as serious as it is, but a disruption in business operations can lead to customer dissatisfaction.
Market confusion and Competitive Disadvantages
Another unwanted situation that comes with a rebranding campaign is that it can create confusion in the marketplace, especially if the new business strategy doesn´t offer a differentiator from its competitors or disconnects from the brand identity. If the rebranding campaign does not communicate the company’s unique value proposition or fails to resonate with the target market, customers may struggle to understand the company’s positioning in the industry.
This confusion can give an advantage to other businesses and competitors with a more solid and recognizable brand image, potentially leading to a loss of market share for the rebranded company.
Importance of Rebranding
Rebranding holds significant importance to businesses as it allows them to adapt, evolve, and stay relevant in an ever-changing marketplace. Is not just about giving your brand a total makeover, is also about having the opportunity of improving your company’s image, giving your business the opportunity to expand to a whole market, and maybe even have better chances of success in many possible areas with this rebranding process over other multiple brands that rather follow the same and repetitive process they always had.
The Basics of Rebranding
It enables a company to strategically redefine its corporate positioning and image to align with evolving customers’ preferences, market trends, and competitive landscapes. By planning carefully a successful rebranding strategy for your new brand, businesses are given the opportunity to revitalize their image, attract new audiences, recover the interest of old customers, and differentiate themselves from competitors. Rebranding can serve as a catalyst for growth, helping companies break free from stagnation and expand their product offerings, giving them the chance to work with a whole new market and expand their audience, and capitalize on emerging opportunities without losing their brand voice. It allows businesses to communicate their unique value proposition more effectively, connect with their target audience in a deeper way, and create a strong brand sentiment with customers.
In a dynamic business environment, a rebranding strategy is an essential tool that encourages companies to adapt, innovate and thrive in the face of change, ensuring long-term sustainability and success for their old and new brand.
The Yeses in Rebranding
If you have made the decision of rebranding your business, you may as well know how to do it in a proper way. Learn about the basic elements that come with a rebranding process and general ideas that may help you to have a better vision of what you want to achieve. That’s why we are going to provide you with some tips that you can implement in your rebranding strategy:
Rename your company
Now it is perfectly fine for you to change the company name if you feel that it doesn’t match your vision of what you want to accomplish by doing this rebranding process. Think about something that matches your newest brand elements and ideas, that way it will really feel like a fresh start for your new brand.
Reestablish your brand´s target audience
This is a really important step you don’t want to forget. Along with your rebranding strategy, it is crucial for you to think about the market you will approach, how you will do it, and all the work that goes along with it. It is a tricky step to do, but as well a fundamental one if you want to have a successful rebranding for your company. A consistent brand that keeps up with old and new customers says a lot about its efficiency and work.
Find inspiration in customers
As we have mentioned many times before, customers are a very important aspect when it comes to rebranding, that’s why even though you are doing a rebranding process, maintaining a close dynamic with your old customers and making them feel that you are still listening to to them is a really important step for you to do. Make them feel included in this process that your company is having and hear what they have to say, that way, the brand sentiment they developed before the change will stay as well.
Plan a successful launch
Having the correct marketing materials and team is essential for your rebranding strategy to be successful, that is why it is so important to really plan carefully your rebrand launch to the market. Think about what is your new brand identity without losing the essence of it, a brand strategy for you to reach out to the target audience that you wish to reach, and the company’s commitment to their public and audiences, among others.
The no´s in Rebranding
We have shared with you some advice for you to have a better rebranding strategy, but we think it is also important to point out what NOT to do when you are planning on doing a rebranding process with your company.
Trying to be someone different
It’s okay if you feel like doing some changes to your current brand like making changes to the company logo editing the brand colors, having a new visual identity, or even trying to reach out to a new target audience. But you should never try to use a rebrand as a way of hiding the less desirable corporate values or behaviors. Own every single thing that happened during your company’s history and just try to improve the things that you feel can go better.
Lose your identity
Even if you are planning on improving things in your business vision and branding efforts, don’t lose your brand identity. In the end, the one thing that makes a business different from others in order to stand out is its brand identity. That is why you better think twice if you had this idea in your mind. An improvement to it? Go for it, scratch it, and start all over again with a new identity. Not the best idea.
Overcomplicate the concept
Rebranding strategies can take a long way for them to work, but in the end, the vision and the concept you want to implement shouldn’t take that much time to be explained. Only think about ideas that will certainly improve the brand identity, marketing materials, visual identity, and everything else that you feel will benefit your company for you to have a successful rebrand strategy without risking all the work and benefits of your existing brand.
Try to change everything all at once
As we mentioned before, rebranding efforts and strategies demand a lot of time in order for them to succeed. That is why it is important to take your time in every change you decide to make. Even if it doesn’t feel like it, a small thing like changing the brand colors has a very huge impact on your visual identity. Trying to change everything in a short amount of time, could end up in negative brand recognition from your customers and clients, and it might be tricky for them to understand what is happening with the brand and kind of feel disconnected from it, affecting the brand reputation with the already existing clients and some brand elements.
Now that you have some of the elements and situations that may occur if you decide to rebrand your business, maybe it will be easier for you to decide either if doing a rebranding is the best option or if you rather go in another direction. Whatever the case is, a strong marketing team is always an important element if you want to succeed in all your rebranding efforts to make your products and services even better.
Rebranding… an important decision to make
Now that you have some of the elements and situations that may occur if you decide to rebrand your business, maybe it will be easier for you to decide either if doing a rebranding is the best option or if you rather go in another direction. Whatever the case is, a strong marketing team is always an important element if you want to succeed in all your rebranding efforts to make your products and services even better.
A successful rebranding strategy with Creatitive
At Creatitive, we care about our clients’ visions and businesses for them to succeed. Even the smallest rebranding strategies need to have an experienced team. We count on having a strong marketing team for you to have a satisfactory service in every single way.
Contact us and we will help you create an appropriate rebranding strategy that follows your new brand vision and values.
FAQ
Is it necessary to do my rebranding with a new logo?
Not necessarily, remember that logos are an important part of your brand, it gives your company a visual identity your old clients can already relate to. A logo redesign would be a good idea only if you feel like is going to give your company an improved identity, but if you also feel like staying with the same logo, there’s nothing wrong with that.
Are there any successful rebranding examples?
An important example we need to highlight when it comes to talking about rebranding is Mark Zuckerberg´s company Facebook, or how we know it today, Meta. He was able to succeed in his rebranding without losing any corporate identity and successfully doing a company merger with Meta. Facebook basically changed everything about its brand. From the logo and the name of the company to the typeface. Nowadays, they even count on a website for this parent company.
How are your competitors doing?
Before thinking about rebranding, it is important for you to do a competition analysis. How is your competition making their businesses stand out from the others? What company decided to do a partial rebrand or changes and what effects were brought by doing it?
What decisions and actions do you need to make before launching your rebranding strategy?
Once you have an idea about the things you want to change when rebranding your business, you can start thinking about the ways you are going to implement them. If you decided to do a whole new marketing strategy, it would be the time for you to make a logo redesign, or maybe even make a new logo. Also think about who is going to be your new audience, and what brand promise or brand story you want them to have from your parent brand for them to feel related to your new vision. Basically, consider making a complete brand overhaul for you to be certain about what you want or do not want to do with your company.
Do you count with enough time and resources to complete your rebranding process?
An important aspect for you to think about is the time you are planning to take for your rebranding strategy, is it going to be enough? Do you have appropriate brand messaging and marketing tools? Maybe your internal brand guidelines or brand story will also need a makeover for them to feel even more related to your business. And finally, do you have enough resources for your brand refresh to be successful?
What about all the problems that may come with your new brand?
You have to remember that even if you are doing just a partial rebrand or starting all over again with a new audience, a logo redesign, or even making a new logo from scratch with fresh brand guidelines and a completely different brand messaging, doing a makeover to your business is always going to be a difficult process. Even if you believe you have everything under control, problems may arise at some point during your rebranding process. A good idea for you to have is to have a backup strategy or procedure. Your backup plan for your brand refresh needs to be bendy enough for you to be able to change things during the process if required.
