People love makeovers. Our favorite scenes from movies are where the hero goes from humble and quiet to stylish handsome. Like these heroes, brands have their own identities and sometimes need a refresh and makeover.
Many companies reach a point where their corporate identity no longer matches the original vision and limits growth opportunities. Either way, it’s a sign that your business is growing – and that it might be time for you to rebrand.
This article will learn what rebranding is and how to implement it. We have also included examples of brands that have successfully changed their image.
What is rebranding?
Contents
Rebranding is creating a new or improved brand identity in the eyes of consumers. It’s more than just changing brand colors, names, or visual identities. These elements are important, but the rebranding process goes much deeper than that.
A rebrand is a pivot in a new direction while maintaining your brand’s core values and essence. It is a response to the growing needs of your audience.
Why is rebranding necessary?
The path to rebranding is different for everyone. This process can be quite costly, so you need to make a balanced decision about rebranding.
Successful rebranding requires patience and foresight. And with the right approach, the results can be amazing.
A few reasons why you should consider rebranding:
- Mergers and Acquisitions. When two companies merge, each brings its own unique corporate identity. The key to a successful merger is finding a new identity and building a brand that represents and unifies the values of both parties. But not every merger requires a full rebrand; sometimes, a light refresh is enough (more on that below).
- Newmarket and locations. If your brand is growing inside the market or entering new ones, this is a great opportunity for rebranding. For example, if a business enters an international market with different languages and cultures, this will require localization of the brand’s visual style and tone.
- Change of target audience. Rebranding can help attract new audiences when a brand no longer resonates with the old one.
- Outdated branding. Your brand no longer displays the offer or feels outdated. Perhaps the company designed the logo 20 years ago, and it no longer makes sense.
- Technological Advances. There may be external trends in technological advances in your industry that can affect the supply. Also, these achievements may lead to the emergence of new competitors.
- Mission Revised. The core of your brand is based on the brand’s mission and vision and your goals and values. If this core changes and develops, it is worth thinking about rebranding. This will help to reassess the original values and make sure they align with the current vision.
- Concept change. Maybe you opened a brick-and-mortar store first and then moved it online. Or your restaurant now only offers takeaway food. Such changes affect the customer’s experience of interacting with the brand, so they must be effectively reflected in the branding.
- Poor initial branding: Perhaps you jumped on everything too quickly and did not consider everything at once. Revisiting and re-evaluating logos and brand elements can be a great rebranding opportunity.
Here are a few more reasons why a complete rebrand would not be appropriate.
New leadership. Sometimes a new boss wants to mark himself with a new logo or badge. And while a change in leadership can sometimes be a catalyst for change, remember that rebranding isn’t just about superficial details. This is a holistic strategy that involves changing the brand from the inside. This should not be a one-person decision but an overall process that considers all aspects of the brand.
Quick decision. Good branding is always about honesty and openness. If you’re using a rebrand to deceive your audience or distract them from a negative experience, it can cause a lot of backlashes. Brand reputation cannot be improved by simply changing the logo.
PR move. Using rebranding to grab attention can be very risky. However, if several successful examples. Look at the IHOP strategy where they renamed themselves “IHOB.”
Boredom. Maybe you are tired of your brand’s corporate identity and think it’s time to update it. But this is not a reason for rebranding.
Even if you no longer like the logo, your customers know and love your brand. Without the necessary research and strategy, changing a brand can damage credibility and reputation.
Think about the rule of seven. This is such a marketing principle that a customer needs to see a brand seven times before he starts to recognize it. You look at a logo every day, but new clients take time to build a connection and association with your brand.
Types of rebranding
Brand update
Brand renewal takes less time and money than a complete overhaul. This approach is also called partial rebranding and is suitable for companies that want to stay relevant and attract new customers without losing relationships with previous ones.
For a successful brand update, it is worth considering the creation of a new logo, updating or creating a website, and setting up communication methods.
A good example is the Apple logo. It was completely redone only once in 1976. Every 7-10 years, the brand carefully updates the logo without sacrificing recognition.
Brand restructuring
Brand restructuring implies a complete transformation. This requires careful analysis and strategy.
This type of rebranding is costly and should only be undertaken when the company has completely changed its purpose and vision and is ready to rebuild the brand from within completely.
A complete rebrand can be triggered by product or service changes or expanding into a new market. Regardless of the reasons, rebranding is usually caused by failure or mistake in effective communication with the audience. By rebuilding a brand, you have a chance to tell a new brand story.
How to rebrand
- Determine the cause
- Research and define your target audience
- Decide what stays and what goes
- Collaborate with the team
- Share with the world
- Listen to feedback
1. Determine the cause
Rebranding requires awareness and vision. You need to look inside and ask important and difficult questions to identify the brand’s problem. If your brand doesn’t have a clear goal, it’s time to define one.
Your vision, mission, and values will be the brand’s foundation. A brand goal will bring the entire organization together and allow your team to connect better.
2. Research and define your target audience
For a rebrand to be successful, you need to target the right audience and resonate with it. It is also important to study your competitors.
To determine the target audience, you need to consider both the current demographics and the one you want to attract.
You need to define:
- Age
- Floor
- Location
- Income
- Education
- Interests and hobbies
Also, consider:
- Previous brand associations
- Connecting with competitors
Based on this data, you can dig even deeper to know your target audience. What experience do they have? What do they love?
3. Decide what stays and what goes
To some extent, a rebrand is like a wardrobe overhaul. Before you get rid of all your branding assets, you first need to decide which ones work.
For example, do you plan to change the brand name? Most often, the name can remain the same; this helps recognition. However, when two companies merge and create a new brand, a name change is a good idea.
Go through all the brand items and decide what to keep and what to leave out. This applies to both visual and non-visual branding elements. For example:
- Logo
- Brand colors
- Printing house
- Tagline
- Product packaging
- Website
- Photo
- business cards
- Brand Tone
- Advertising
- Emails
- Communication and training of employees
- Brand culture
- Social media posts
- Booklets
- Promotion
4. Collaborate with the team
The rebranding strategy must first be discussed with partners, sponsors, employees, and investors. Make sure everyone knows exactly about the new brand identity.
It never hurts to create excitement around a new brand. By showing your audience a small glimpse of the brand’s appearance, you can get more attention and make your launch more successful.
One of the most important aspects of launching a rebrand is explaining why you made certain decisions to the audience. Sincerity and transparency evoke a positive response from customers.
6. Listen to feedback
The needs of your customers are the driving force behind the rebrand. Therefore, listening to their feedback is as important a step as anyone else.
Rebranding examples
Victoria’s Secret
The iconic lingerie brand recently went through a major makeover after misogyny, bullying, and model harassment scandals.
Their rebranding attempts to mitigate past mistakes and create a new image, targeting a wider audience. The brand is updating its stores and has launched a new collection.
Dunkin’
In 2019, the American coffee shop chain went through a successful rebrand. Changes have affected the internal leadership, visual elements, logo, and name, among other things.
Thanks to a thorough analysis of consumers and competitors, they were able to find their place in the market and understand where they are not needed. Dunkin’ used brand loyalty to attract lost customers and build relationships with new ones.
