A brand’s corporate identity is actually its recognition in the sea of the same. No matter if it’s a huge and well-known corporation or just a startup, branding and corporate identity will be the two most important things for any business. Brand and its corporate identity are two interconnected aspects of the business, that are known to develop a connection between the customer and the company.
One thing that you must have noticed that the businesses even the well-established one at some point choose to get their brand rebranded. Have you ever thought why do they opt to go for a complete rebranding knowing that it could be risky for their brand identity which has been constructed over the years?
Before starting off let us make it clear that rebranding is not a task that could be done overnight. In fact, it’s a lengthy and nerve-racking process which requires a lot of effort, time and creativity to bestow a new feel to an already established brand, that has made its presence noticed with its advertising, logo and other marketing campaigns.
What is Rebranding? Rebranding strategy encompasses a change in logo design, color scheme, in some cases even a brand name can also be changed as a result of rebranding. On the other hand, sometimes only a few fixes are required here and there such as logo redesign, web redesign or a new marketing strategy to cater new audience that is needed to be targeted. Following are the factors that may trigger the urge of having a rebranding.
If a brand has decided to reposition their market, then they cannot rely on their old corporate identity and branding. They need to formulate a new brand persona probably a new name and new logo as well in order to target their new audience. For example, if you have been selling makeup and skin care over the years but now you have decided to sell gardening products then definitely the old strategy and branding would not be working for you anymore.
If your brand reputation has been declining for years then its high time for you to consider a rebranding. A bad reputation can have adverse effects on the image that your brand has developed over the years. So, it’s better to consider a rebranding before it’s too late.
Change in Leadership:
Change in leadership is another big reason that often leads to rebranding. Small businesses and private companies are usually dependent on a leader. Most of the times, in case of death or for any other reason leadership got transferred to another person. In most of the cases, the new leader decides to get the brand rebranded in order to provide it a fresh look.
Internationalization of Business:
There are cases when a brand decides to step into the global market, in that scenario, it becomes an obligation for them to go through a rebranding. Given the fact that global audience is different from the local hence here it becomes a necessity to get their brand rebranded in order to revamp all the elements related to the brand.
The brand is Not Noticeable:
If your business fails to appear as a distinguished brand, then you should consider a rebranding campaign. It happens often that your brand could not make it stand out from the crowd hence the chances of it getting lost in the sea of the same increases. In that type of situation, you should go for a revamp so that your brand can become able to grab the eyeballs.
To end with, rebranding is no less than a herculean task, whereas in some cases a few tweaks and tugs here and there are enough to fix the issues that have been causing some problems. In both the cases, rebranding provides a chance to brand to get evolved with the passage of time.
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