What Is Rebranding?
Rebranding is the process of changing a corporation’s public image or identity, typically known as the brand. When a company rebrands, it often undergoes a large, complex operation involving various elements of the business, including the logo, brand name, and marketing and advertising strategies. A rebrand might also include a change to the products sold or manufactured by the company.
5 Reasons for Rebranding
There are several reasons for a company to consider a rebrand. Below are some of the best motivations for a rebranding operation:
- New products: When a brand changes the product offerings or the pricing of these products, it might rebrand. In this case, it will be necessary to inform both the old and potential new customers of these new products. If the change is big enough, the best way to announce the change to existing customers and potential new ones is through a rebranding process.
- A new philosophy: Often, a brand will decide that its old way of doing business or its brand values should change. A rebrand can be one way to broadcast this new philosophy to the world, bringing the new brand story to public awareness.
- An expanded audience: Sometimes a company wants to reach a more extensive customer base or a new demographic. If the new target market is younger, for example, it will likely take a rebranding effort to gain the business of the desired audience.
- Mergers and acquisitions: When two companies merge into one, such as a more prominent brand absorbing a smaller startup, there is often a rebranding process as a result. The new, combined brand will need to inform the public of how the merger has affected their business.
- Image repair: Sometimes, a company will rebrand itself after its current brand identity and reputation have been damaged. Changing the visuals associated with the brand might avoid negative associations attached to the existing brand.
3 Main Types of Rebranding
There are many different types of rebranding, from a simple company logo change to an entire overhaul of the company’s mission, brand image, and advertising strategy. Some of the most common kinds of rebranding are as follows:
- Brand refresh: If you’re changing relatively minor aspects of your brand—by adopting a modernized font, altering your logo design, and selecting a new tagline, for instance—you’re performing a brand refresh. Even a refresh can have significant effects, especially for a highly visible brand.
- Partial rebranding: This is when some aspects of your brand change while others remain the same. A redesigned logo or typeface makeover could be classified as a partial rebranding, as other materials may stay the same as they were before the rebrand.
- Brand overhaul: A complete rebranding will involve every aspect of the brand: a new logo, a new color palette, a new brand strategy, new visual elements, new marketing materials, and, in some cases, a new name. This is the most significant kind of rebranding in terms of investment and often in terms of overall risk and reward.