5 Reasons to rebrand
22nd August 2017
TOP 5 REASONS TO REBRAND.
Having an effective brand that stands out, represents who you are as a company and keeps up to date with the continuously changing market place is a vital part of your company’s growth. With examples of successful rebrands set by companies such as Microsoft and Airbnb, we’ve listed our top 5 reasons why your company might need to be rebranded…
1. TAKING OVER, BUYING OR MERGING WITH ANOTHER COMPANY
If your company has recently taken over, bought or has merged with another company then immediate rebranding is usually the initial following action. This is to firmly establish a clear change in management and usually to comply with legal requirements. This rebranding is essential to communicate the new image of your company and to make it clear what elements of the business you will be dropping or keeping prior to this change.
2. CHANGING MARKET PLACE
The continuously changing market place can be a threat to many businesses and with the digitisation of society as a whole adaptation is crucial now more than ever. Ensuring your brand is in line with the market you are trying to reach is a vital part in your company’s success, rebranding is a very effective way of ensuring your company is staying up to date.
3. DIFFERENT AUDIENCES
If you have decided to completely change who your company’s target consumer is then a rebrand is essential. Maintaining your current brand will only be confusing and wouldn’t let people know your company has had a change in course and so drawing in the new customers you are trying to reach will prove to be difficult. A rebrand will allow you to communicate a clear change to the world.
4. OUTGROWN OLD BRAND
Modernisation is one of the most common reasons companies decide to rebrand. If you have implemented some exciting changes to your company or there have been some productive steps forward then a rebrand is vital in representing this. It is an effective way of bringing in old customers while simultaneously drawing in new ones.
5. BAD REPUTATION
If there has been a crisis that has caused your company to gain a bad reputation then rebranding is the logic next step as will help shed any negative associations with the company. It is essential however to ensure you rebrand more than just the exterior and implement changes throughout the whole company as otherwise it will simply look like a cover up.