What is rebranding and why is it necessary?

When and how to refresh your corporate image to make your brand more effective.

In an era of digital transformation, where consumers’ tastes and purchasing habits are constantly evolving, rebranding can play a fundamental role in revitalising a company’s image so that it can respond quickly to changing market demands.

The current landscape is increasingly competitive, dynamic and flooded with different products. This means it’s vital to prioritise your corporate image, so that you can differentiate yourself from competitors, forge emotional connections with customers and be prepared to made decisions that modernise, refresh and reposition your brand visually.

What does rebranding mean? In essence, it’s a brand identity renewal process. An operation that involves the creation of a new or refreshed image for an existing product or brand that can involve the name, logo, design, colour choices and tone of voice. It is a delicate and complex process that demands careful consideration of multiple factors: according to Forbes magazine, a total overhaul of a brand can take between 12 and 18 months.

The brand identity is an essential pillar of the company’s identity and can influence the perception of the product within the market, which is why it’s crucial to stay up to date with current trends and make sure your brand aligns with your target audiences. Here, we explore when and how to implement a rebrand strategy and breathe new life into your business.

• Refreshing a brand can take up to 18 months of work
• 60% of consumers tend to avoid companies whose logo is unattractive

When to rebrand

A recent report by StudyFinds found that 60% of consumers avoid companies whose logo is considered to be unattractive, although their products’ reviews may be good, while over 50% of respondents say they are more inclined to choose products whose brand is easily recognisable. Having an impactful logo and a corporate image that keeps pace with the changing times is crucial to maintain competitiveness in the market. That is why, according to Entrepreneur magazine, most companies consider doing a major rebrand every 7-10 years and constantly make small changes to improve their visual identity.

When is the right time to go through a rebranding and why? And what are the crucial factors to be taken into consideration? Let’s take a look at some of them.

Align your corporate image with a new strategic direction. When a business moves in a new direction, it’s crucial that its brand embodies this transformation. Rebranding allows you to communicate your new objectives and the new path that you are following, leading to an alignment between public perception and the desired positioning. The selection of colour, font and tone of communication does not happen randomly and is not dictated by personal preferences, but all these elements represent a precious resource for establishing an empathetic contact with potential customers. That’s why it’s important to entrust this process to professionals who can interpret the needs of the business in the best way possible.

The need to attract new market segments. When companies venture into new markets or aim to target new audiences, adjusting their visual image can be a key way to present their products or services so that they’re appealing to these new segments. However, it’s important to avoid a fragmented or incomplete approach. Your rebrand should encompass all customer touchpoints, including your website, social media channels, promotional materials and giveaways, along with printed materials like flyers, brochures and business cards. This holistic strategy ensures a cohesive and unified brand identity geared towards maximising the impact of your rebrand.

Differentiate yourself from the competition. In saturated market segments, it can be very difficult to stand out and be noticed. An effective rebrand can help you differentiate yourself from your competitors, highlighting the uniqueness of your offer. Taking this strategy through to items like customised packaging materials can contribute significantly to the diffusion of your brand and corporate identity.

Respond to significant changes in the business environment. Whether it’s technological innovations, new market trends, mergers or acquisitions, an ever-changing environment can require a brand refresh to maintain relevance and adapt to the current landscape. Rebranding is an effective way to communicate these changes, giving a new boost to your business.

Restore your corporate image. Rebranding can help restore a compromised reputation or repair image damage, especially after a period of crisis. An image renewal, if well thought out and indicative of the growth path undertaken by a company, can convincingly communicate that corporate issues have been resolved, helping restore trust. This strategic reset of the brand image is a powerful tool, providing tangible evidence of the organisation’s evolution and conveying a positive message that helps regain the confidence of its audience.

The experts at your local Mail Boxes Etc. centre can help you evolve or renew your brand identity. We will work with you to refine your visual communication and create a co-ordinated image with our design, print and marketing support solutions here.

[FAQs – replace the answer to question 3 with the following:]

Yes, adapting your brand identity can help present your product in a way that’s more attractive to new market segments, personalising your communications more efficiently for new target audiences.