A brand is much more then a simple logo and name these days. The extent to which the term "brand" is used has grown in recent times and has encompassed much more then it once did. A brand can be thought to represent all things that instill a perception in a costumers mind regarding a certain product or service. It is the face of your business, the thing most recognizable to the common public, and so much more. That being said it is easy for businesses and consumers alike to grow fond of a successful brand and let it outlive its usefulness. Times and economies change and a good brand should change along side it. The hard part is determining the extent to your brand redesign, and when it is a necessity to put a rebrand in place.
Often times at the start of a business lifecycle – a business will not have the time or resources to consider branding. This often produces poor branding or no branding at all. Professionally designed brands can require a large monetary investment in the eyes of the small or starting business, and it may seem a luxury they cannot afford. However with growth and expansion a strong brand is something a business cannot afford to neglect. A strong brand is a large part of a business being taken seriously as it is trying to take the next step into different or more aggressive markets. A powerful brand will not only communicate your commitment to the business, but it will also show competitors you are to be taken seriously.
Keeping on topic with the idea of a growing business, it is important to consider the way most businesses evolve. As they grow they tend to develop or acquire more products or services offered. Some of these will inevitably develop into company brands themselves. These various brands between products and services can produce brand clutter and segmentation resulting in confusion among consumers. It can also fragment your marketing efforts and add much cost. A rebranding can easily consolidate these marketing efforts and cluttered brands into an effective marketing tool. With a new streamlined brand all products and services can share a strong growth rather fighting each other for it.
When a brand is losing its pull with consumers it is a great time for an update. If you are experiencing a decrease in sales and customers, a rebrand could be just the thing to recapture old customers while recruiting customers anew. Perhaps a business was known for some time to offer a service that has been rendered useless by new practices or technologies. As a response the business has since shifted to offer something more useful and current. Rebranding can be a catalyst for an old customer to reexamine that business's offerings while discovering it's new offerings at the same time.
A brand refresh can attract a new demographic or audience. Often times a business will want to expand their audience to include demographics that were not previously considered or targeted. This expansion may require a brand that is more relatable to the newly established demographic. Keep in mind that rebranding does not necessarily mean a change of logo or name, it could simply be a new tagline or a play on your existing identity that resonates more clearly with this newly defined demographic.
Various negative factors can necessitate a rebrand. It is not ideal but should not be overlooked that negative publicity is a large cause of much rebranding. This rebranding tends to be the most extensive as well. Negative publicity can easily sink a business and even with new management a business can easily succumb to the loss of customers. A Complete overhaul of your brand may be just what the doctor ordered. A refreshed brand can change all of those negative connotations people have and give your business a second chance to do things properly.
There are many reasons to rebrand a business, but because branding is such an important part of any enterprise it is important it be handled carefully. A brand should not only resonate with potential clients but it must also represent your business in the correct light. It is easy for people to rush into rebranding because they are simply tired or bored with their current practices, but one must always to remember that there must be a motive and goal behind a rebrand. This goal should be apparent throughout the process and results should be apparent.