Both rebranding and repositioning are concerned with making changes to a business to adapt within the marketplace and fuel company growth.
While the two processes share similar goals, they each have distinct purposes and impact businesses differently.
In this article, we will explain the differences between rebranding and repositioning, helping you understand which approach suits your business needs better.
What is rebranding?
Rebranding involves changing a brand’s identity.
It can involve updating visual elements like its logo, colour scheme, and typography and non-visual elements like its values and messaging. During a rebrand, the brand’s new identity must be updated across all touchpoints, including its website, marketing materials, interior signage, and digital assets.
Rebranding is a powerful strategy that can help struggling businesses create a new identity and attract new customers, completely altering their trajectory. However, it can also be an expensive and resource-intensive process that risks damaging brand recognition and possibly confusing or alienating loyal customers.
What does it mean to reposition a brand?
On the other hand, repositioning focuses on updating a brand’s position in the market and the minds of consumers without changing its identity. Repositioning focuses on changing only the elements that customers associate with the brand, including its promise or personality.
Repositioning allows businesses to refresh their image without a complete overhaul. It can open up new opportunities and is usually less expensive and risky than rebranding. However, the impact of repositioning has less of an impact and doesn’t always succeed.
Which one is better for you – rebranding or repositioning?
When determining which option is right for your business – rebranding or repositioning – you should first consider your company’s current situation and future objectives. If your brand requires significant changes, rebranding may be the way to go. However, repositioning may be more appropriate if it requires a more subtle shift in focus or perception.
Rebranding is often the appropriate course of action if there has been a significant change to the company, like a merger or acquisition, or if it has begun targeting a different target audience.
Rebranding may also be the right route if your objective is to shed a negative reputation or if your existing branding has become outdated.
Businesses tend to lean towards repositioning rather than rebranding when their existing brand identity is effective, but they need to adapt to evolving market trends or consumer preferences.
Repositioning is also a strategic choice for businesses that want to align with new markets or differentiate themselves from the competition
Both rebranding and repositioning are powerful strategies with both benefits and drawbacks. The key is to carefully assess your existing position, business goals, market conditions, budget, and target market to determine the right approach for your business.
Collaborate with iBrand Signs on your rebrand
At iBrand Signs, we design, manufacture, and install interior signage and exterior signage for businesses across various industries.
Many businesses use our services to support their rebranding strategies. We can help your business to communicate its new brand identity effectively using impactful interior signage.
To learn more about our services, call our team today on 01925 823 032 or email sales@ibrandsigns.co.uk