The art of rebranding is certainly one that not every entrepreneur is aware of or knows how to integrate into their business. But that doesn’t mean it cannot be learned. It’s one thing to give up on an already established brand that didn’t really make it into the corporate world, but it’s a whole other world when you rebrand correctly. A good entrepreneur should always evaluate the pros and cons and understand what the difference between these two options really is.
When thinking about rebranding, it’s important to comprehend that there’s no one way to do that, nor is there a way that ensures your rebranding technique will get you exactly the result that you’re in search of. However, the reasoning as to why the company wants to consider rebranding plays a huge role in determining which strategy they should opt for. Here are two common types of rebranding:
A business that is well established and is looking to refresh and update the services, identity or marketplace of the company is one that would generally perform a partial rebranding. By doing so, the company is able to tweak some aspects of the brand in order to replicate a novel focal point. This can be anything from a contemporary look to introducing new products in the market.
When a company opts for a full or complete rebrand, it is highly possible that the reasoning behind it is to emerge into something absolutely different and new – something along the lines of a completely fresh identity. This might occur when dual companies merge into one and require critical changes in order for their new, unified brand to thrive. In other words, the brand gets a complete makeover – from head to toe.
Do You Even Need to Rebrand?
Rebranding is great if you know exactly why and what you want to do so for. However, there are many companies and entrepreneurs that rebrand simply because they aren’t seeing profits or their marketing isn’t good enough. Basically, the motive behind the decision to rebrand is what matters the most.
When Not to Rebrand
A reason to reconsider rebranding is when you’re just trying to rebrand because of a decline in sales cycles, failure to get a solution to pitiable brand awareness or horrid advertising efforts. If the only reason you’re opting to rebrand your existing brand is due to marketing push or to generate murmur, then a full rebrand is certainly out of the question. In fact, this can actually do more harm than good to the company. The better option would be to reevaluate your marketing strategies.
When to Rebrand
The company’s values, purpose, mission and market should certainly come into consideration when one is choosing to rebrand. Whatever the brand is, it is important that it is aligned with these things. If the website, marketplace, tagline, services or even the messaging doesn’t match the direction that the company owner holds, then a full rebrand is certainly the correct option for the company.
All the aforementioned points can make a brilliant strategy when you’re planning to rebrand your company’s established brand identity.