¿In which moment we should think about doing a rebranding?
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Every company, no matter how small or large, has a fundamental task: to create a brand that is memorable, in which both the corporate identity and the brand depend on each other. This allows the connection between the company and its customers to exist harmoniously or on the contrary, be broken. With all this in mind, there are companies that choose rebranding from time to time.
This process involves creating a new identity and image for the company, a new website according to the changes made, and eventually rethinking of the products or services that are being offered, accompanied by the marketing strategy. Have you ever wondered what makes companies decide to do a rebranding? Read on to learn more.
Some of the main reasons why companies do a rebranding are:
The brand no longer attracts qualified professionals
The best, fittest and most experienced professionals from each guild only work for the best brands, this is how the business ecosystem works from the beginning of times. If the brand is not attractive enough for the people the company is looking to have as talents, the change sounds like a good idea. In these cases, the change should be focused on the corporate identity, the graphic image, and the way in which it communicates its values at the corporate level.
When there is a change in leadership or administrative strategy
Big and small companies are often run by a leader. That leader is usually the owner of the company.
When the leader, for whatever reason, wishes to abandon his leadership role to be taken over by another qualified professional, the new leader can opt for a change of image of the company for a fresh start.
Brand reputation has been negatively affected
The bad reputation in a brand has an overall negative impact; therefore, to avoid closing the company, the change of brand is the best alternative, since it dissipates and / or improves all kinds of negative association with the initial brand, and restores / rebuilds the reputation of the company.
By repositioning the business
Imagine that you run a beverage company. From the beginning, the company has become a well-positioned brand; however, its sales have been declining in recent years. Therefore, the decision is made to produce food instead of drinks. Would you choose to change the name? Of course, the answer must be yes.
To keep up with this important change, it is advisable to change the logo, the marketing strategy, the website’s graphic style, among others. What was good for the beverage business may not be good for the food business. A brand must always reflect the values, the identity and the market it is trying to target.
When you don’t stand out from the crowd
This can happen to any business that is just starting out. Even with a certain marketing strategy and business plan, the brand still doesn’t stand out. Plus, the great overall feedback it has been getting and the good services it has been providing has only provided a limited amount of customers.
In this case, you should try to change the brand in order to differentiate. Don’t worry. If it fails the first time, you can always try again. Do you want to keep previous elements? Be sure to simplify and display them in a more subtle way.