7 Reasons to Rebrand your Business

Many people worry that by rebranding their business they’re taking a bold risk which could end in disaster. The fact is that as every business evolves and develops over time, situations will most certainly present themselves that will call for a strategic rebrand.

The purpose of rebranding your business is to refocus your brand and redefine who you are, what your business is all about and why you are an important company worth talking about. Much like the way a snake sheds its skin; it is a vital and inevitable process that paves the way for your brand’s future, offering a fresh perspective for the way your business is viewed from the outside looking in.

Gain a competitive edge

If the competition around you seems to be growing, while your business seems to be remaining somewhat stagnant then perhaps it is time to freshen things up! The companies that want to survive must adapt to their ever changing market and environment and so most often react to losing market shares or decreasing sales by rebranding their business and switching things up.

It’s all about getting the market excited about your business once again by highlighting what makes your company truly unique in comparison to your competition. With the right strategies in place you can easily out-brand your competition and show your prospective customers what truly gives your company the edge over everybody else.

Example 1: Airbnb rebrand

The idea behind the rebrand for Airbnb was that they stood for more than just a travel company. They wanted people to feel like they could belong anywhere, no matter where they travelled around the world. The new symbol known as the Bélo, was designed to represent all of us and it stands for 4 things: People, Places, Love and Airbnb. A short animation was also created to illustrate the symbols relevance to their message:

Consistency is key

Another problem that you may come across as your company expands and evolves over time is that your brand can all too easily become a baffling haze of assets if you don’t take care. In order to stay on the path to success it is paramount that every growing business creates and maintains an evident display of continuity and consistency across the brand. Far too many companies make the grave mistake of using inconsistent logos, typography, colours and imagery which can quickly become a great cause of confusion and frustration for your customers.

Bore off!

While it wouldn’t take much to get a cat excited over a box, if you’re to entice the public you’ll have to go about things a little differently – You see it doesn’t matter if you’re selling flat-pack cardboard boxes or authentic, hand-crafted solid oak chests; there is absolutely no reason whatsoever for your brand to be boring. I apologise for the pun but you really do have to think outside the box if your brand is being received with an attitude of disinterest. It’s time to mix it up a little and discover a new, exciting and authentic theme that will inspire your customer’s imagination. It’s all about surprising your customers by getting them excited about something they may have otherwise not been so fussed about before.

Overcoming negativity

Turning a brand around from negative perception to a fresh, positive outlook can be an incredibly difficult task however with the correct strategies in place it is always possible for a company to recover from a bad image. Everyone deserves a second chance and you’d be surprised at how forgiving the public can be.

Mergers or change of ownership

When two companies merge or there has been a change of ownership you will often find that a rebrand is in order to highlight the new changes in place. With new management or sponsors in place the values and priorities of a company may vary and so it is often the perfect time to change things up and implement a new and exciting strategy that clearly demonstrates the fresh outlook, goals and overall vision.

Example 2: The recent Premier League rebrand

The new rebrand for the Premier League follows the decision to move away from title sponsorship. The league was previously known as the Barclays Premier League which it was named in the season of 2007/8. The new design was created to communicate a new side to the world’s most popular football league. Another big consideration with the rebrand was how digital broadcasting has evolved over the past decade and therefore the new logo needed to work in various situations, for example in he form of an app icon.

What’s my name?

It is not uncommon for a company to outgrow its name. Perhaps the name no longer fits who you are and what your business represents or perhaps you have encountered a conflict of trademark along the way – Whatever the case by renaming your business you’ll have the opportunity revaluate your brand entirely.

Size matters

Early start-ups and new businesses will have often begun their journey without a professionally designed brand, which is alright in the beginning however if your business has experienced rapid growth you’ll have likely outgrown your brand in the process. If you want your company to be taken seriously you will have to revaluate your brand in order to keep up with your new competition. It’s a big, bad world out there and if you’re to make an impact in the market place you’ll have to pack a stronger punch.

When it comes down to it, branding can be a risky yet rewarding process. It is certainly something that should not be taken lightly, though with careful consideration, the right design agency at your side and a little imagination; there’s no telling what you can achieve!