5 Reasons Why a Company Should Rebrand
This time of the year we get a lot of requests for larger, what we call foundational marketing projects, like new website development and rebranding (brand identity and architecture). Lots of companies are looking to launch these types of projects at the beginning of the next year, 2019, and know that in order to do them right, they need a full half year to complete.
Companies are asking themselves should we rebrand? When it comes to rebranding, many companies are not sure if they should rebrand. For one, they are fearful of change in general and even more fearful that if they change their logo that they will lose a part of their identity. Here are 5 good reason you should consider it:
We’ve had the same logo for like 20 years.
This is most likely the most popular reason most SMBs want to rebrand – and in my opinion need to rebrand. Their brand identity (logo), ‘look n feel’ and marketing materials appear dated and they want to modernize. This is kind of tricky for agencies because not only not only does – beauty lie in the eye of the beholder – it is highly subjective. And a lot of times a company’s logo was created by a friend or family member and in some case the business owner themselves. While this may be tricky it is important for clients to understand that if you are looking to attract a higher level client, then your marketing materials must reflect that – and sometimes the only way to do this is to do a rebrand.
Our customer has changed.
Another reason clients come to us to rebrand is because they are servicing a different type of customer. As business changes and progresses, a lot of companies find themselves reinventing themselves over and over again. They need a brand that will resonate with their current and future target audience and represent the services that they now offer customers. A lot of times when companies start out they do not have a specific target audience or even a specific set of products/services that they offer. They are more horizontally focused. As companies mature, they tend to take a more vertical approach by refining their strategy and target audience. In this case a rebrand helps the company stand out for the products and services that they provide and connect emotionally with the customers they are focused on today.
We lack focus.
The most common and my personal favorite is when clients come to us to help give their brand a clear focus. A lot of times when you research companies online or speak to executives within companies – each will describe their company’s value proposition and purpose differently – and even sometimes the services or products they provide. There is lack of a consistent, clear message – a brand statement. It is your job to define a brand statement that will give each employee a clear way to talk about the company. A brand is what uniquely differentiates you from your competition.
A lot of companies are using their brand to attract employees. When you visit a company and it is obvious that they spent time on their brand, their marketing and their customer facing materials – you can tell that they care about their business. Their brand makes a statement. Most people looking for a new opportunity want to work in a place that has a strong image. For good or bad, first impressions still matter a lot.
1 + 1 = 1
Another common reason for a rebrand is that two companies have merged. In this case a rebrand is very helpful for alignment and to initiate a new beginning. The two companies come with history and by being able to integrate the learning, challenges, stories and frankly the blood, sweat and tears into something new is inspiring. It will set the two companies up for success together as one!
There are two ways that our team at Red Bamboo Marketing can help you:
Download our DIY brand workshop guide.
Contact us to help your company with the transition. Our proven methodology calls for input from all stakeholders – customers, executives, board members, etc.