Why would a company rebrand?

THERE ARE MANY REASONS WHY BUSINESSES DECIDE TO EMBARK ON A REBRAND

Perhaps your existing branding doesn’t resonate with your target audience as strongly as it once did, or maybe it has become outdated or irrelevant.

If this is the case, rebranding can help to rejuvenate your business, realign it with contemporary market trends, and infuse it with new energy. A rebrand can set the stage for business growth and foster more engaged customers.

At iBrand Signs, we specialise in creating striking visual elements that align with your brand’s identity. From innovative interior signage and exterior signage to engaging vehicle graphics, our services can help to ensure that your rebranding efforts leave a lasting impression. Our customers often seek our expertise when their businesses undergo a rebrand, trusting us to design, manufacture, and install visual assets that align seamlessly with their fresh new brand identity.

However, it’s important to note that rebranding a company is a significant commitment that should not be embarked on without careful consideration. Understanding why companies opt for a rebrand and the process’s potential advantages and disadvantages is important. Armed with this knowledge, you can make an informed decision about whether rebranding is the right step for your business at this time.

WHAT IS REBRANDING?

Company rebranding is the process of giving a business’s identity a makeover.

A full rebrand involves a complete overhaul of your business’s identity, whereas a partial rebrand only involves changing or tweaking one or two elements.

Your business’s brand is how your business looks and feels. It should help your business stand out from competitors and connect with its target audience. If your branding is no longer working for your business, it could be holding it back from reaching its full potential.

Some elements of a business’s brand that may change because of a rebrand include:

COMPANY NAME

TAGLINE

LOGO

COLOUR PALETTE

TYPOGRAPHY

BRAND VOICE

Rebranding a company is no small feat; it is a complex task that must be approached carefully. Rebranding without a strategy can leave a business in a worse position than before, so it’s important to only take on a rebrand once you have researched and formulated a strategy.

WHY DO COMPANIES REBRAND THEMSELVES?

If it ain’t broke, don’t fix it. This is a phrase that rings true when it comes to company rebranding. There are several situations when a rebrand could benefit a business. However, one bad reason to rebrand is that you fancy a change or are bored with your branding. A rebrand should not be undertaken without good reason, or you risk alienating or losing loyal customers.

So, why would a company rebrand? Some scenarios where rebranding could potentially benefit a business include the following:

LACKLUSTRE BRANDING

If your branding lacks vibrancy, does not help your business stand out from its competitors, or fails to highlight its unique qualities, rebranding could help it win more customers.

NEGATIVE PUBLIC PERCEPTION

If your business has experienced bad publicity or developed a negative reputation, rebranding can help it shed these negative connotations, refresh its image, and restore customer trust.

A CHANGE IN DIRECTION

Over time, it’s natural for a business to grow, expand, evolve, and change direction. However, this can result in your old branding no longer accurately reflecting your business. Rebranding can realign your branding with your business today.

BECOMING OUTDATED

Times change, trends come and go, and your branding needs to evolve with the times to avoid appearing old-fashioned or out of touch. A brand refresh can help modernise dated branding to maintain a business’s existing customer base and attract new customers.

CORPORATE MERGERS AND ACQUISITIONS

If two businesses merge or another company acquires a business, then they will require rebranding to establish a unified brand identity.

WHAT DOES REBRANDING INVOLVE?

Rebranding is a complicated process involving several stages, each crucial to the project’s overall success. Key steps in the rebranding process include:

ASSESSMENT

The first step involves evaluating your existing branding and scrutinising what works and doesn’t. This will help you to figure out if your business requires a full or partial rebrand.

RESEARCH

This stage calls for an extensive investigation into your target audience, demographics, behaviour, likes and dislikes to ensure your new branding will resonate with them. At this stage, it’s equally important to study your competitors, discern their strategies, pinpoint what makes your business different, and identify how to position your brand to stand out.

STRATEGY

Next, you will need to form a detailed strategy for executing the rebranding. You will need to make decisions regarding the elements of your branding that are to be altered or retained. A well-thought-out strategy should align with your brand values, mission, and vision to ensure that the rebranding process is cohesive and consistent.

BRAND DEVELOPMENT

During this rebranding phase, all the key elements of your business’s new branding are designed and developed. This could include redesigning or updating various elements of your branding like brand values, mission and vision statements, business name, tagline, logo, colour palette, typography, and brand voice.

IMPLEMENTATION

Once your new brand identity has been developed, the next task involves updating all your business assets, marketing materials, and customer touchpoints to reflect the new brand identity. This can be a huge task and may include overhauling various elements like your website, social media channels, interior signage and exterior signage, vehicle graphics, product packaging, advertising, and business cards.

EMPLOYEE ONBOARDING

Consistency is key when it comes to company rebranding. To ensure a uniform representation of your new branding, all departments within your business should be trained on its new branding and how they can effectively utilise it in their roles.

REBRAND LAUNCH

The final step is to launch and communicate the rebrand with your customers and stakeholders. Explaining the rebranding can help foster acceptance of the changes and encourage a smoother transition.

WHAT ARE THE ADVANTAGES OF REBRANDING?

Rebranding is a complex process that should be approached with caution. However, a well-executed rebrand can invigorate a business, inject fresh vitality, and redefine its identity. Here are some potential advantages that a successful rebranding exercise can bestow upon a business.

ENHANCED BRAND IMAGE

A rebrand can revamp and improve a company’s image, ensuring it is aligned with current market trends, audience expectations, and the brand’s values and mission.

ATTRACT MORE CUSTOMERS

By improving your brand’s image; you can draw in new customers, boost your customer base, and increase your market share.

STAND OUT FROM COMPETITORS

A rebrand can distinguish a business from its competitors, giving it a unique identity that stands out in a crowded marketplace.

MAKE MORE MOENY

Rebranding has the potential to boost your bottom line by attracting more customers and driving up sales.

TALENT ACQUISITION

A modern, dynamic brand image can attract top talent, fostering a vibrant and high-performing workforce.

GENERATE INTEREST

Company rebranding can generate curiosity and interest, creating a buzz and increasing your brand’s visibility in the marketplace.

EXPAND INTO NEW MARKETS

Rebranding can help your business enter new markets, allowing you to reach new demographics or geographical regions.

INCREASE COMPANTY VALUE

A successful rebrand can enhance the perceived value of a company, making it more appealing to investors and stakeholders.

BOOST BRAND AWARENESS

Rebranding can increase brand visibility and recognition, making the company more memorable to consumers.

STRENGTHEN CUSTOMER LOYALTY

A rebrand can bolster customer loyalty and engagement by aligning the brand more closely with customer values and expectations.

IMPROVE COMPANY CULTURE

A rebrand can create a sense of excitement around your business and its future, boosting employee morale and productivity.

WHAT ARE THE DISADVANTAGES OF REBRANDING?

While rebranding a company can bring numerous benefits, it’s important to consider the potential downsides and risks associated with the process. Awareness of these challenges can help businesses plan strategically, mitigate potential pitfalls, and set realistic expectations. Here are some of the possible drawbacks and risks associated with rebranding.

EXPENSE

Rebranding a business can be a very expensive endeavour. From the conception of a new brand identity to its implementation across all business assets, the costs can quickly mount up. Therefore, planning a budget carefully and ensuring the potential return justifies the investment is crucial.

POTENTIAL FOR CONFUSION

A change in branding can create confusion among customers, particularly if the change is significant. This is why it’s essential to effectively communicate the reasons for the rebranding to customers and manage the transition smoothly.

NOT EVERYONE WILL LIKE IT

Change can often meet resistance and be met with suspicion; this holds true when rebranding a business. Not everyone will appreciate the new branding, which may lead to customer and employee dissatisfaction.

YOU MAY LOSE CUSTOMERS

If not managed effectively, rebranding can lead to losing customers, especially if the new branding does not resonate with them.

LOSS OF BRAND RECOGNITION

With a new brand identity, there’s a risk of losing the brand recognition that your business has built over the years. This could potentially impact your market presence, at least in the short term.

HOW CAN IBRAND SIGNS HELP WITH YOUR COMPANY REBRAND?

Are you looking to breathe new life into your business with a rebrand? Here at iBrand Signs, based in Warrington, we can help your business to communicate its new brand identity effectively using impactful signage. We believe that a well-executed rebrand is more than just a change of logo or colour scheme – it’s a chance to reinvent your business’s personality.

From designing exciting interior and exterior signs to crafting dynamic vehicle graphics and digital signage, our team is committed to helping your business to stand out. Our interior signage services will help you to create an engaging work environment that reflects your brand’s new identity. Some of the services we offer to help you align your business’ interior design with its new identity include custom wallpaper, reception signs, floor graphics, display signs, retail signs, and window graphics.

To learn more about our services, call our team today on 01925 823 032 or email sales@ibrandsigns.co.uk