Is Rebranding A Good Idea?

Why would a business want to rebrand?

Businesses often need to rebrand, and it can be a result of many reasons, including international growth, new management, a bad reputation or an outdated image.

Whatever the reason, it’s important to create a stellar brand that people will remember..

What does it mean when a company rebrands?

Rebranding is the process of changing the corporate image of an organisation. It is a market strategy of giving a new name, symbol, or change in design for an already-established brand. The idea behind rebranding is to create a different identity for a brand, from its competitors, in the market.

What are the benefits of rebranding?

What Are the Top Benefits of Rebranding?Connect With a New Audience. The biggest advantage to refreshing the look and feel of your brand is the ability to reach new customers . … Set Yourself Apart From Your Competitors. … Stay Current. … Reflect New Goals, Products, Offers, or Values. … Boost Your Bottom Line.

How do you successfully rebrand?

Successful Rebranding TipsEstablish the Purpose of the Rebrand. Before going right into a rebrand, first make sure you are clear on the purpose. … Have a New Brand Vision. … Make Your Rebrand Known. … Stay Consistent. … Experiment and Be Creative. … Notify Your Vendors.

What are the risks of rebranding?

Avoid These Common Rebranding RisksRebranding Risk #1 – Losing or Alienating Existing Customers. … Rebranding Risk #2 – Lacking Multi-Contextual Use. … Rebranding Risk #3 – Breaking Your Web Assets. … Rebranding Risk #4 – Not Budgeting for Marketing.

When should you rebrand?

One surefire sign it’s time to rebrand is if you’re undergoing a merger or acquisition. Mergers and acquisitions almost always involve rebranding at some level. In any acquisition, it’s important to look at how the acquired brand fits into the brand architecture of the acquiring entity.

What is the difference between rebranding and repositioning?

Rebranding is simply changing the brand’s identity. It typically includes changing most or all of the brand identity elements such as the name, icon, colors, type font and tagline. … Repositioning focuses on changing what customers associate with the brand and sometimes competing brands.

Should I rebrand my Instagram?

Rebranding—whether you’re just changing your logo, the overall aesthetic of your Instagram feed, or doing a full biz pivot—can ruffle many a feather. Transitioning out of your old ways into your new image should be gradual as to least upset people (aka what will affect engagement).

Is it okay to rebrand?

Yes, a rebrand can feel like a fresh beginning, but it’s not always necessary or beneficial. Just because you don’t like your brand’s logo doesn’t mean you need to scratch everything. As has been well-publicized, a disastrous rebrand can hurt both your reputation and your bottom line.

What is involved in rebranding?

To rebrand a business is to take it in a new direction. It’s about going to the core of what you stand for, consolidating your aims and vision, and then modifying your image to reflect these changes. You may decide to rebrand if: Your overarching vision has changed.

Why is rebranding difficult?

The difficult part about rebranding your company is that it involves change, and all at once. This is never easy for a company, employees or customers. When things don’t go as planned, there are a few possible issues that could result.

How do you rebrand a product?

Step-by-Step Process for RebrandingQuantify the reasons for the rebrand and conduct a brand audit. … Assess the risks/ROI. … Naming – Are you selecting a new brand name? … Determine your new brand positioning. … Define your brand architecture. … Summarize your brand strategy and write your creative brief. … Select your creative team.More items…

How to rebrand a companyStart by understanding your mission, vision, and values.Have a complete rebranding strategy that works with your existing branding.Consider your audience, the market, and your competition.Collaborate with your team.Rename your business.Rebuild your brand identity.Manage the rebrand carefully.More items…•