Companies tend to rebrand every 7 to 10 years, on average. Branding is how you convey your messages to consumers. When it’s done right, rebranding can pay off. At the core, rebranding is about influencing how your customers and potential customers perceive your business. When you rebrand, the goal is to change your products, services, or the company image. It involves giving your brand a fresh look or new messaging. When is rebranding the right thing to do?
Reasons for Company Rebranding
When a rebrand is necessary, it’s very much worth the investment. But before moving ahead, it’s important to identify your “why.” Here are some reasons that make rebranding a great option.
Trying to Reach a New Audience
Target audiences change with time. If your audience has evolved, or if you want to expand to a new group of customers who will ultimately grow your customer audience, a rebrand is suitable. Think about your current tone and look and how they fit the new audience you are trying to reach. Rebranding involves changing things up so you can appeal more effectively to a specific group of customers.
Separate the Business from Competitors
Certain styles are going to appeal to specific people groups. This is why sometimes brands that are targeting a similar audience begin to look and sound similar. Although a few similarities are fine, you want consumers to easily distinguish your brand from others, especially in your own industry. A rebrand can often help set your company apart from competitors so that customers are not as easily confused.
Your Company Has Made Significant Changes
There are a variety of factors that can influence brand changes. Companies that grow or expand over the years may need a rebrand. Brands can evolve over time as you adapt to a new model or message. In some sectors, product or service offerings change. These types of changes are great rebranding opportunities.
Even the best of the top brands have a shelf life. It may last for years, but at some point, it may need to be revamped. Your brand should be telling your story, message, values, and mission. If it doesn’t communicate these accurately, it should be updated to reflect your current values. Branding for your company can also become outdated if you merge, make an acquisition, or change ownership. These events can signify a new chapter that deserves a newer look and tone.
5 Mistakes to Avoid When Rebranding
- 1. Using Your Preferences to Create a Brand Identity. The most important people to any business are customers. They should be at the front of your thinking while rebranding. Your own preferences should be moved to the back. Of course, you may be working with a CEO, a board, and even employees, but customers are the most important factor. You want to make sure to listen to customer needs so that you develop a brand that resonates with them. You may want to prelaunch test with your audience to ensure your rebranding efforts do not fall short. Customer insight is helpful and makes it worth the investment.
- 2. Failing to Involve Stakeholders. Stakeholders and employees should understand the purpose behind rebranding. They also need the chance to provide feedback and input throughout the process. Their insight is invaluable since they live and breathe the business every single day.
- 3. Making a Change Just for the Sake of Change. The rebranding process can provide some surprising results. You may learn that just some small changes are needed to your brand identity. Don’t skip the research portion of the process. Gathering insight into how others perceive your brand may mean you discover you’ve gotten it right all along. If this is the case, don’t try to fix something that’s not broken. Don’t rebrand just for the sake of it; it should be purposeful and worthwhile.
- 4. Just Changing Your Logo.
Rebranding encompasses much more than just changing your logo, although that may be a huge part of your rebranding efforts. Rebranding is about more than your logo; it’s about your values, messaging, tone of voice, mission, and vision. Rebranding is reshaping your business identity, and that is what is behind your logo. Your logo is part of your rebranding efforts. It’s on everything from your website to your stationery and your employee name tags. It should be a representation of your brand.
- 5. Avoid Inconsistency.
Customer may interact with a business through a variety of means during their buying journey. Your branding should be so clear that they know they are dealing with the same company, whether they seek you out online or speak to a member of your sales team. Rebranding is a company-wide venture, so online and offline elements should be consistent with your branding message.
Don’t Forget the Name Tags!
There will be a lot of things to change when you work through rebranding. Don’t forget about ordering new name badges for your staff or employees. We can put your newly designed full-color logo onto name tags of any style. Call us today to learn how we can help you top off your rebranding efforts with a high-quality name tag.