Why Do Brands Rebrand?

Why do you rebrand?

Businesses often need to rebrand, and it can be a result of many reasons, including international growth, new management, a bad reputation or an outdated image.

Whatever the reason, it’s important to create a stellar brand that people will remember.

Because of internationalization, Raider changed its name to Twix..

How often should you rebrand your company?

every 7-10 yearsOn average, businesses rebrand once every 7-10 years, a process that often involves restyling the colour palettes, logos, photographic style and visual language. In some cases, changing the name might be necessary. While there’s often one main reason, a combination of factors can motivate a rebrand.

What does it mean to rebrand yourself?

“Rebranding just means changing how others view you,” says Dorie Clark, branding expert and owner of Clark Strategic Communications in Boston and author of “Reinventing You.” Three compelling reasons to consider it: The economy.

Why is a logo important?

So, why is a logo important? Because it grabs attention, makes a strong first impression, is the foundation of your brand identity, is memorable, separates you from competition, fosters brand loyalty, and is expected by your audience.

What are the benefits of rebranding?

REBRANDING PROSATTRACT NEW CUSTOMERS. After you’ve been in the market for some time, your image and company message may have become stagnant, and maybe even irrelevant to your audience. … ACHIEVE NEW GOALS. … INCREASE ENGAGEMENT. … STREAMLINE MESSAGING.

Is it okay to rebrand?

Yes, a rebrand can feel like a fresh beginning, but it’s not always necessary or beneficial. Just because you don’t like your brand’s logo doesn’t mean you need to scratch everything. As has been well-publicized, a disastrous rebrand can hurt both your reputation and your bottom line.

How often should you refresh your brand?

Even brands that are established household names tend to go through a major brand overhaul every 7-10 years and smaller refreshes more frequently.

Can I change my brand name?

If you change core products or services or have moved into an entirely new industry, you might need to consider a new name – especially if your brand specifically mentions the work you do. If that’s the case, your name might be a hinderance as you go after a new market.

What are the steps to rebrand a business?

The Process Of RebrandingStep 1 – Introspection. Self-awareness is key to successful rebranding. … Step 2 – Market Research. … Step 3 – Decide What Makes You Unique. … Step 4 – List & Redesign Your Brand Touchpoints. … Step 5 – Make Sure Everyone’s On Board. … Step 6 – Take Your New Brand Public. … Step 7 – Get Feedback.

Why do companies change logos?

The new logo is supposed to provide a fresh representation to the company and showcase the combined identity of both. A new logo might also be created when a company gets divided and another entity is being created with new management.

Is rebranding a good idea?

Rebranding your company can be a great way to revitalize your business, attract new customers, and reposition yourself in the market place. … YouTube’s thought-out rebrand strategy shows how important every last detail becomes when you decide to change up your company’s branding and messaging.

How do you successfully rebrand?

Successful Rebranding TipsEstablish the Purpose of the Rebrand. Before going right into a rebrand, first make sure you are clear on the purpose. … Have a New Brand Vision. … Make Your Rebrand Known. … Stay Consistent. … Experiment and Be Creative. … Notify Your Vendors.

Is it time to rebrand?

You’ve Lost Focus If your brand has tried to get its hands into too many different things recently your brand may be getting a little too scattered. If you’re starting to offer many varied types services and products, it might be time for a rebranding. Your company may have lost its focus.

How much does it cost to rebrand a small business?

How Much Does Rebranding Cost? Most small businesses can expect to invest $90,000 to $180,000 and six to eight months to transform their brand. Studies show that the average B2B business spends about 5 percent of their revenue on marketing.

How long does it take to change a company name?

How long will it take to change my company name? It usually takes around 3-4 working days in total to change a company name on the Companies House register.

How do you explain a rebrand?

Definition: Rebranding is the process of changing the corporate image of an organisation. It is a market strategy of giving a new name, symbol, or change in design for an already-established brand. The idea behind rebranding is to create a different identity for a brand, from its competitors, in the market.

Why should you rebrand your business?

It’s important that both your employees and your customers understand why your brand is superior to the competition. A rebrand can help you identify and redefine your key differentiators, including your competitive advantage: the thing you do better than any of your competitors.

What is branding and rebranding?

Branding is the term used to describe the overall design and promotion of a company, its products and services. … Rebranding is the term used to describe taking an existing brand and changing or altering its message and design elements.

When people see a logo that looks outdated, they perceive an organization as out-of-touch with modern best practices. A good rule of thumb is to at least consider updating your logo once every five years.

How to Rebrand Your Logo DesignIsolate your old logo’s best qualities. … Look to your brand’s past. … Strive for simplicity. … Focus on the most important colours. … Embrace both new trends and classic traditions. … Optimise readability. … Add interest with hidden meanings.