Rebranding is a process which helps to completely or partially change the brand image. It can only relate to the change of logo or brand name, as well as its overall communication, marketing and colour strategy, or a comprehensive change in the brand’s visual identity.
There is still a lot of entrepreneurs, who do not take rebranding seriously. A significant proportion of small and medium-sized companies present on the European market operate with visual identification older than 10 years, and its changes are usually dictated by an attempt to change unfavourable PR.
Nevertheless, this trend is slowly changing and companies implementing rebranding modify their PR effectively. By eliminating negative opinions and associations with the brand, they adjust their identity to the dynamically changing market, and also reach their customers more effectively.
What is rebranding?
Rebranding is a change in brand identity, which helps in achieving business goals more effectively. The goal of rebranding is primarily to gain market advantage, build positive associations with the brand, improve the reach of potential recipients group, as well as to improve the brand attractiveness, which has a direct influence on achieved profits and sales results.
The process of rebranding is long, complex, laborious and time consuming. Therefore, it’s extremely important to plan this process and all its components properly. Only a skilfully designed strategy and methodically implemented individual stages of rebranding will ensure a satisfying effect.
These processes may include changing the company’s slogans and motto, creating brand new advertising materials, refreshing the appearance and functionality of an online store or the company’s website, designing a new logo or corporate identity manual and colour scheme, that the company will use. The style of communication and the way fans are engaged on social media may also change. The scope of work depends only on the needs of the brand and the goal it intends to achieve through rebranding.
Why do companies choose rebranding?
The vast majority of European companies choose rebranding solely for image reasons, which results in complete or partial refreshment of the visual identity of their brands.
The main reasons for rebranding include: the desire to refresh the brand image, change of the organisational structure of the company, change of business strategy, technological breakthrough, launch of new sub-brands or products into the market, brand refreshment in consumers’ minds, or merger with other companies.
The most common reason that drives companies to rebranding is a brand image crisis or a dynamic development of the company. Do you want to learn more about rebranding or get comprehensive support in your new brand identity development? Contact our experts.