Rebranding is a great way to break the mould, upgrade your company image and essentially helps you to stand out from a crowd. When planned in accordance with your strategic business goals, rebranding can achieve amazing results and in some cases has even proven to be the ‘make or break’ point in the business lifespan.
In spite of the possible rewards, the decision to rebrand shouldn’t be taken lightly. It’s not all about the logo. A company brand incorporates everything from client communications, your products or services reputation and company ethos, values and messaging. The logo, essentially the symbol used to convey your company identity, is undeniably a significant aspect of any rebrand, but shouldn’t be the only weapon in your rebrand-strategy arsenal.
Inevitably, the process requires a lot of resource and budget, so before you take the plunge, check out the most common calls for brand identity development:
1. Company merger or buyout
Your company might be undergoing a merger or a buy-out, or you might be planning to sell it on in a few years’ time. Consider tying in a rebrand either to coincide with a re-evaluation of your company brand materials and messaging, or to make your brand more attractive for prospective investors.
2. Changing tack
If there are significant changes in your business strategy afoot, it might be time to consider investing in brand identity development. For example, if you are preparing a new service or product, targeting a different or niche audience, or simply changing tack to accommodate technological advances in the sector, a rebrand can help you to achieve your new vision and reach the right people.
3. Create a competitive edge
Often a key driving force for rebranding is the way in which it helps a company to stand out from a crowd. While your company's reputation is the key factor, when up against strong competition, a fresh new look can give you the desired edge and encourages new perceptions of your company.
4. Company growth
Business expansion and growth gives you a great reason to shout about your success, and rebranding is a great way to achieve this. Be it the result of financial or team growth, or an expansion into new markets, it might be that you’ve outgrown your current company image and it’s time for an upgrade.
5. Marking milestones
A company anniversary such as a 25 year anniversary or other key milestone can provide the perfect rebranding opportunity. Many companies choose to celebrate key business milestones by implementing a rebrand as part of a broader marketing or PR campaign.