Do you want to change the company’s image? Maybe you are no longer inspired by your logo, or you feel the aesthetic is not playing to your values, or you are branching out into new territory (such as new products or new geographies) with your company.
The good news: the need to change the image is not a bad sign; vice versa! Most successful companies do so, from beginner companies to Fortune 500 companies. Often, name changes mean that the company has grown beyond its previous identity and is now ready to reach new heights. Rebranding offers great opportunities to strengthen the presence and image of the company in the eyes of your customers.
However, rebranding can be a business-intensive process, so you need to consider why and how to overcome it.
When is rebranding a good idea?
The target demographic has changed
As it grows, your company may try to target a wider audience, and the brand must reflect this. A common example is a well-established company that changes its name to attract the attention of many people. One of the companies that did this very successfully was Adidas. In recent years, these sports retailers have gained considerable market share – for competitors such as Nike and Under Armor – by capturing a growing segment of athletes worshiped in the new millennium. The key to success? Focus on digital special marketing strategies and influencer branding.
New competition, technological changes or taste trends have emerged
If technology has disrupted your industry, rebranding may be needed to offset competition and reposition it as a leading company in a new environment. Maybe the change is not always inspired by technology; trends in the tastes of new consumers can affect your industry, such as waves of organic preferences and locally sourced in the food industry. For help with rebranding your business, contact a PR Cheltenham company like https://www.targetgroup.co.uk/
Business has changed significantly
Your company may have been placed under new management, expanded to new product lines, entered international markets or bought or merged with other companies. Your brand identity needs to reflect this important change, and not miss the chance to represent your company’s past and its future.
There has been no cohesive branding effort – not yet
It is typical for successful startups to quickly develop outside of their initial logos and brands, like Airbnb.
When the company just started, it is not unusual to be very fond of branding: You just slap fast logos and produce other brand elements in a haphazard way. However, as your company grows, more deliberate branding efforts can make the company look more professional.
The brand is outdated
After years in business, your branding may not feel as contemporary as it should be. Your 1990 logo in neon-coloured bubble letters can of course use some new views.
Why are you rebranding?
It is important to explain why you are rebranding; in this way you ensure that the rebranding efforts are commensurate and will achieve the results expected in your business.