Brands evolve over time, their customers’ needs change and brands change in response to it. Rebranding is a natural part of this progression. We’ve listed the top 10 instances in which you need to consider a rebrand.
1) Your company has merged with another company
When mergers happen, more often than not, it leads to a name change. It’s also a good opportunity to take stock, examine where you’re at and identify where you want to be. A rebrand can help to reflect to your audience where you’re headed.
2) When your company has been acquired or you have acquired another company
Similar to when a company merges, when a company acquires another company it also acts as another great opportunity to look at the brand with a fresh pair of eyes and inject some new life into it (think when Facebook acquired Instagram and they replaced the polaroid camera with a digital one).
3) When your company has appointed a new CEO or there has been a major change in the leadership
Usually when a CEO or new leadership has been appointed it means that change is afoot. When LG Mobiles announced its new CEO, it was swiftly followed by an announcement of a new rebrand to help them to effectively compete with Samsung and Apple. Again, new perspectives and fresh eyes means a new era for your brand.
4) When you want to go in new direction
A classic example is Burberry in the early 00’s - they went through an extensive rebrand to shed the ‘chav’ image that it had unfortunately become wrapped up in. Many thought it may be the beginning of the end. However, Burberry bounced back with a rebrand that focused on the history of their brand, which told a new brand story as a high end, luxury, fashion-forward brand.
5) When the competition is on!
In a crowded market, it is essential to stay current. If you don’t you will quite simply be left behind. Now is the time to consider how you are different from your competitors. What are your unique selling points? What is your selling proposition? Identify them and make sure your brand reflects that.
6) When you’ve exceeded your original mission
When AirBnB originally launched, it was targeting budget travelers, who needed a spare room to crash in. Fast forward to the present day and the app has reached dizzying heights and has disrupted the travel market. A brand refresh was essential to reflect the coming of age of the brand.
7) When you need to catch up with market trends
If you’re described as ‘old fashioned’ it has connotations of being outdated and the question is are you happy to be seen as old fashioned and outdated? No of course not! It’s time to look at where you want to be and how you want your brand to reflect this. Otherwise, this could be a ticking clock for your organisation.
8) You’re going global
First off, congratulations! This is an amazing venture. However, going global requires customer insights. How do you know if your current brand is going to work in the new market? Or worse it could event offend in other cultures (see our other blog on brand campaigns that have failed to impress). Rebranding to match your new audience or creating a new brand for that specific market may be the best way forward.
9) Tarnished reputation
Something happened to tarnish your brand’s reputation and has affected your customers’ perception of you. Refreshing your brand or rebranding all together can help you fight back and improve perceptions with a sincere promise.
10) You’ve launched a new product or service
Well this is exciting! Rebranding on the back of a product launch is always a great way to keep up momentum. It’s also a great way to inject some vitality into the brand, both internally and externally.
