Rebranding seems like it has become somewhat of a trend lately as two major companies, Google and Verizon, have both redesigned their iconic logos. This has led to many businesses to question if they should rebrand their company. Rebranding should not be taken lately because we live in a digital age and therefore nothing goes unnoticed. If a company chooses to undergo the rebranding process it can have a large impact on their company, positive or negative. So before you make the jump and decide to rebrand see if any of these relate to your company:
- You are experiencing a decrease in sales and customers. Also the customers you are attracting are not apart of your targeted audience.
- Your competitors seem to have an edge on you and are becoming more successful.
- You have started to offer new products and services, completely changing the original plan of the company.
- Your current brand is not compatible with your mobile strategy. EX: you need a new or don’t have an app. Or your brand seems out to date with the digital age.
If any of these situations apply to you it may be time to rebrand. Keep in mind that if you currently do not have the budget for this project or you recently rebranded then it may not be the time to do so. The decision to rebrand is never a clear one and many factors should be taken into consideration.
If you feel rebranding is the right move for your company then here are some tips to keep in mind during the process:
- Make sure your brand has a story and meaning behind it, something for customers to relate to
- If your brand is authentic and the public holds it close to their heart then do not drastically alter it
- Make sure to keep communication open and honest during the transitional time with all employees and stakeholders
- Set a “launch date” for your new brand to debut and try to stick with it
- Your logo, philosophy, and goals of the company should all be represented as a package deal, your brand.
In conclusion, “rebranding” may seem like the newest trend but keep in mind that it may not be the right move for YOUR company.