What is rebranding?
Rebranding is an important process of renewing or enhancing a company’s branding elements, which can include the logo, color palette, typography, and more. The core idea is to communicate change; if your company is evolving, you want your audience to be aware of it. Rebranding can take various forms:
- Brand refresh: Involves minor adjustments, such as modernizing specific aspects of the logo or tweaking the color palette.
- Partial rebrand: Entails changing some elements while retaining others. For instance, adopting a new logo that incorporates elements, themes, or colors from the old one.
- Full rebrand: Represents a comprehensive overhaul, as if you were an entirely new company.
Consider the evolution of the Burger King logo over the years, showcasing the varying degrees of rebranding undertaken.
While rebranding isn’t always imperative, once you commit to it, there are sacrifices involved. Beyond the financial investment, there’s the risk that your new brand might not resonate as effectively as the old one. Careful planning and adherence to the steps outlined below can mitigate this risk, making it crucial to contemplate rebranding only when the timing is right.
When is it time to rebrand?
Determining the opportune moment for a rebrand involves recognizing certain red flags:
- Changing products and services: If you’re introducing a significant shift in your product offerings or services, a rebrand can effectively reintroduce your company to the market. This is particularly relevant for companies venturing into new markets or altering their pricing strategies. Example: The transformation of Gap from a record store selling jeans to a contemporary clothing store.
- Expansion or audience pivot: When expanding into a new demographic or entirely shifting your target audience, a rebrand is essential to align with the preferences and expectations of the new customer base. Example: Old Spice’s rebranding to appeal to a younger audience with updated spokespeople and humor.
- Current brand misses the mark: If your existing branding has not performed as expected or if you’ve identified flaws in its design, a rebrand, even a partial one, can rectify these issues without compromising what works.
- Distance from a negative reputation: When your brand becomes associated with missteps or negativity, a rebrand can help you create a fresh image and distance yourself from past challenges.
- Lack of distinction from competitors: If your brand blends into the crowd and fails to stand out from competitors, a rebrand can provide a distinctive face that attracts attention and sets you apart.
- Company structural changes: Mergers, acquisitions, leadership changes, or shifts in company policies can prompt a rebrand to signal that your company is headed in a new direction.
- Evolution over time: Just as societal aesthetics change, your brand should evolve periodically to stay relevant. Regularly reassessing your brand every few years is essential to avoid looking outdated. Example: Doritos periodically updates its logo to stay in tune with changing visual tastes.
Ready for a rebranding journey for your brand? Contact Flareonix today for strategic insights and personalized solutions tailored to your unique business needs.