On average, organizations change their corporate identities once every seven to ten years.
At the most basic level, rebranding includes restyling and reimagining color palettes, visual language, photographic style and the logo of the business. After years of using the same branding images and messaging, businesses may realize it's time to make a change. This may happen if a company is merging with another business; if the company wants to market their services to international customers, or if there is an increasing need to be competitive amongst a widening market.
No matter the reason, rebranding can seem like a daunting project in its initial stages. But during the process, it's important to keep in mind that your brand is extremely important to attracting customers. In fact, 48% of consumers report that they are more likely to develop loyalty to a brand during their first experience with the company.
Creating a brand that immediately draws the attention of new leads and existing customers is key to your company's survival and visibility. With over 30 million small businesses on Facebook today, you need a brand that not only stands out in a crowd, but excites.
Rebranding has countless advantages, as your brand is more powerful than you think. As a wise woman (in this Youtube video!) once said, "Your brand is your promise."
Advantages of Rebranding
Reposition your organization
Over time, businesses can lose traction and visibility. If implemented correctly, a change to the brand can realign the organization’s strategies with its promise. What do you offer your consumers? Rebranding can hone in on the services your company provides, repositioning your main message for your target audience. If you are looking to move away from traditional methods you’ve always used to reach audiences, rebranding is a great way to clarify your promise to consumers.
Keep up with a changing market
The market–in nearly every industry–is always in flux, which can mean that your organization’s very existence may be under threat. The digitization of most marketing efforts is making it necessary for many organizations to reinvent themselves. Adapting your logo and overall identity will give your brand a boost in changing markets. Take the time to research what your main competitors are doing, and adjust your strategies to surpass their branding efforts. A consistent message across all marketing channels is essential to building trust.
Having a dedicated project team
The best way to complete a rebrand successful is to manage it with a dedicated project team. Our team at The Impact Group has the necessary resources, skills and organization to carry any rebranding through to completion. In our experience, we find that having a dedicated team to schedule, deliver and expand upon the rebranding will be effective in rolling out the new updates.
Companies using support specialists like our team will align the rebranding’s aspirations and budget with the overall objectives of the project. A dedicated project team will underscore the importance of recognition and target your specific demographic. After all, recognition equals value: out of the 40 million images posted to Instagram every day, over 10,000 of them are of the Starbucks logo and, mostly, not on purpose. Contact us today to discuss our process in accordance with your vision.
Whenever you add a new feature to your service or line of products, it's an opportunity for you to really 'make a splash.' You can use a rebranding as a way to get people talking about your business. Instead of fearing the potential negative interactions with your new brand, remember that this is a big opportunity to show why your brand matters. Making a change to your brand will increase engagement, even if it's only for a short period of time when it's first rolled out. What you do will the new branding and how you disseminate it will ultimately determine how effective it is at targeting new customers and retaining existing ones.
Without a good branding strategy in place, you may face reputation, time, or money loss, as well as a lost opportunity to clarify your purpose to consumers. Don't lose out on establishing loyalty with customers.