When Is a Good Time to Rebrand
The decision to re-brand your business is a big one. A lengthy process that can sometimes cost a bit of coin, and it’s certainly a decision not to be taken lightly. However, if done for the right reasons and at the right time, a rebrand can be a great investment to the immediate and future growth of your business.
Done for the wrong reasons and at the wrong the time it can not only be a costly mistake but a PR disaster. A recent example, one we can all learn from was by a household name, with a product we all grew up with and loved. Arnott’s rebranded their famous Shapes biscuit ‘updating’ some of their renowned flavours in the process. Australia went into meltdown. It’s possible we’re still in the midst of this meltdown as the benefits of this change have yet to be seen or understood.
Another famous example on the worldwide stage was when Coca-Cola made an attempt to re-brand their product to appeal to younger consumers in 1985. A strong consumer backlash forced the company to bring back the original “Coco-Cola classic” a mere three months later.
Evolving
If your business has evolved since opening its doors, it’s possible that the logo and brand you started with is no longer consistent with your current message or offering. It’s good practice to have a brand that consistently reflects your business’s message. New direction is the primary reason for re-branding.
Moving or Expanding
Moving your business or expanding geographically? If your branding includes geographic information or contains messages or meanings that only apply to one area, re-branding to appeal to the new location will be required.
Updating
Has the market or trends within your industry changed considerably? Has your brand become outdated as a result? Your brand reflects your business and is directly responsible for prospective client’s perception of you. An outdated and dull brand will not appeal to new customers- especially if you’re a company that sells these sort of services. It’s important not to get this confused with you feeling bored with your current branding – which can happen to the best of us.
While it is totally normal for any business owner to want to shake things up, it’s vital to recognise that this isn’t a good enough reason to re-brand, at least not on it’s own. If however you’re considering updating due to an outdated logo or niche a complete change may not be needed. A simple refresh may be enough.
Appealing to New Audiences
If you’re wanting to appeal or attract a new audience, then this is a solid enough reason for rebranding and one of the most popular. If you want to break into a new demographic, updating your brand to reflect their behaviours, likes and interests can position your business favourably. It is important to make a well-informed decision backed by research if considering this. Using an experienced agency to assist with re-branding is beneficial beyond the obvious design reasons. An agency familiar with branding will have years of knowledge and tested and tried experiences behind their expertise.
Merging or Acquiring
Another reason you may be considering a rebrand is if your business is merging with another or you are you acquiring a new one? Updating the brand to reflect the new dynamic not only creates and helps keep the brand consistent with offerings and message but it can also be a great marketing and PR strategy. Just be careful not to alienate existing loyal customers.
It’s not only important to get the timing and the reasons for re-branding right but to also make sure it’s done with longevity in mind. We can’t stress how important it is for a brand to remain consistent, solid and trustworthy in the eyes of consumers – no matter what type of business you’re in.
When considering rebranding you need to consider all elements of your business’s marketing platforms. With website and digital being a strong player in today’s business environment it’s important that a brand presents well in a digital environment as well as on traditional promotional material.
Get Expert Advice
Rebranding can be an expensive exercise and even more expensive if it isn’t done right. It’s a good idea (and a good investment) to get advice from a team who know and understand the branding process.
We recently re-branded our business to reflect the growth of our business and have had glowing feedback from many of our partners and customers. Digital is an important part of a re-brand strategy, contact us today to discuss how we can help.
