We all need a fresh start from time to time. What we know as private individuals also applies to companies. Rebranding is a common measure used by companies, organizations, and even professional sports teams to increase their relevance and value. It’s about leaving well-trodden paths, setting up new ones, and sharpening the profile. A rebranding can have different reasons for companies. And not all of them are always justified.
Creating a new direction
The rebranding process usually begins when a company or organization needs to evolve and change – often with the goal of promoting growth. These efforts can begin by repositioning themselves in their current market, expanding their reach, or expanding into a new area. New or completely different target groups can also prompt you to give your business a new look. And transformations or revolutions are also a cause – if not the most common. Digitalization, Industry 4.0, or the entry of artificial intelligence into all levels of our everyday lives are changing the starting point.
Leaving negative headlines behind
In other cases, a rebranding may be considered after a recent merger or acquisition, after a public relations crisis, or due to a new corporate vision. If people associate your logo, brand name, etc. with a company misstep, it may be best to offer them something new and different to distance yourself from the negative associations. But keep in mind that this is not a perfect solution – some customers don’t forget so quickly. And it takes time to implement new guidelines and fix errors. However, if you have admitted your mistakes and worked hard to correct them, rebranding your company can help you move forward.
A rebranding is not always justified
What is not a justified reason for a company rebranding is the expansion into a new market. Of course, there are countries and regions with different conditions, different cultural frameworks, but brands have to stand above that. Anyone who changes just because of an expansion into another part of the world dilutes their brand. The company’s mission statement should not change for anyone. If you do, you run the risk of losing credibility. And that is then the death knell for your brand. In the rare case that you withdraw from one market and gain a foothold in another, this may be an exception, but at this point you should consider whether it makes more sense to start with a completely new brand.
Honoring the company's mission and vision
Successful companies – at least those that are successful in the long term – have a mission and a vision for their company. It is the core of their own corporate identity. As a compass, it shows the direction in strategic questions. And the mission and vision are what it’s all about when customers say they can identify with a company. You should avoid adapting these and, if so, only do so in homeopathic doses. Here, too, you can not only scare away customers, but you can also rob yourself of the basis for future strategic decisions. It can be useful to adapt the brand story at this point and retell it. Where you can let off steam, on the other hand, is the company’s appearance, the corporate identity, and the corporate language.
Rebranding made easy
So how do you change the image of your company? The process of rebranding is time-consuming and should not be done in a rush. The first and most important step is to find out exactly where the problem lies. You will want to review every aspect of your current branding strategy to determine what stays and what goes. Instead of rushing into things head over heels, it is best to then collect data directly from your target audience. After all, the new branding should also appeal to potential customers. Part of the rebranding could be to find a more lucrative market than the one you are currently in. This could be a good time to evaluate which customer groups are most interested in your products or services. You should also analyze your (new) competitors when you realign your business. Where are their strengths and weaknesses?
When you are done with the analysis, it is important to prepare everything necessary. This primarily includes a new, professional logo. We at BornDesign are happy to provide our expertise. We create a company logo according to your specific ideas. We adapt the design until you are satisfied. Get in touch today and inspire your new customers. Afterwards, your main task is to make people aware that you have changed your brand. And remember: Now is not the time to be modest – you have put so much effort into rebranding your company. Don’t be afraid to show it!
