Rebranding– Is It Time?
Let’s be honest– you’re probably here because you know a rebrand is in the near future for your business. Or perhaps you’re just curious as to why a company rebrands. Either way, we’ll keep it short.
Rebranding can be defined as a change in the corporate image of a company or organization.
Soooooo many companies rebrand themselves. Even the big ones! Take a look for yourself:
There are a number of reasons why companies– large and small, rebrand their business after some time.
- Often times, there has been a change in core values or company identity. This can happen as a result of an event or experience, or sometimes just over time. Either way, this is a great reason for rebranding.
- Similarly, there may have been a change in culture. Again, it’s a great reason, and the rebrand will probably do great things for your company!
- There may also be a change in audience or customers over time. Re-targeting your brand and marketing strategy towards the correct audience will definitely help your company prosper.
- Another reason for rebranding is simply because your company has been misidentified. Take Geico, for example. The name “Geico” was often mispronounced as “Gecko” which is how their mascot came to be.
- Perhaps you are just not satisfied with your current brand and feel it has more potential. A rebrand, in this case, is often because you are looking to grow your company.
- Lastly, some companies will rebrand in order to re-establish trust with their employees or consumers. Wells Fargo did this not too long ago after they were caught red-handed in a series of scandals.
Rebranding, much like normal first-time branding, will do a lot for your business. The only difference is that now you have a much better understanding of your company, its ideal demographic, and all that other good stuff. Knowing what worked and what didn’t the first time around will help you to really get the most out of your money.
A rebrand will:
- Promote growth and build your financial value. Who doesn’t want that?!
- Help to build better, stronger relationships with your current and future customers.
- Improve recognition of your company.
- And maybe even inspire and revive your employees.