Is It Time To Rebrand
As your business evolves and grows, situations will inevitably arise that will necessitate a rebrand. Rebranding is often to refocus your brand and redefine who you are, what you stand for, and why you matter. It’s a process that provides clarity about your brand’s future and a chance at a new, more rewarding life for your company.
Here are a few reasons a brand would need to rebrand:
Update the Look
The need for a more modern image is the most common motivations behind a rebranding project. If your brand looks dated or has a poorly-design identity, it’s time to rebrand. A solid rebrand can help you retain old customers, while successfully attracting new ones.
Is your competition growing but you’re not? Companies often react to losing market share or decreasing sales by rebranding. A well planned and executed rebrand can enable your company to out-brand your competition and excite customers. Identify what gives your company its unique edge and point of view and build your brand around it.
Business Has Changed
Many businesses tweak their business models, change or add new services and products to stay competitive and profitable. If you used to do X but now you do X and Y, it might be time to rebrand. Your customers will only know that you do X unless you find a way of making them see that you also do Y. The diversification or division of a business warrants a rebrand for clarification.
Your Brand is Boring
Even if you sell the most mundane thing on earth, there is absolutely no good reason for your brand to be boring. If there is an attitude of indifference that surrounds your brand, it’s because you have not discovered a compelling or relevant angle from which to orbit. The solution is to find an authentic theme, apply some creativity, and tell your story in a way that will surprise and delight people. What was widely perceived to be boring could become inspiring to others.
It is no easy task to distance a brand from negative connotations, but rebranding is sometimes a corrective measure and effective strategy for a company trying to recover from a bad image. Sometimes it works, and sometimes it’s too late.
Mergers & Acquisitions
Changes of ownership often results in rebranding to make the change visible and comply with legal requirements. Under new rule, your values, vision and priorities may change. That’s a great time to make sure strategy and creative align to reflect the new goals, vision, message and personality.
Sometimes the name you have is just bad or wrong for your business. Maybe the name no longer fits who you are, or you’ve encountered a trademark conflict. In any case, a change of name gives birth to a new existence, and provides a great opportunity to examine your entire brand from the ground up.
When it comes to rebranding, there can be big risks and rewards. The decision to rebrand should not be taken lightly without sound strategic reasons for engaging in the process, and the right branding partner to guide you along the way. If you’re interested in a rebranding exercise for your company, email us to set up a free phone consultation. As the leading brand agency and brand consultant in Indonesia, Milestone can help you decide if it’s time to rethink, refresh and revitalize your brand.