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Do you feel that your company is stuck and your existing image no longer attracts customers? Perhaps it’s high time to decide to rebrand. Such a move can breathe new life into your brand and open up entirely new opportunities. In this article, we’ll discuss when you should consider rebranding and how to do it effectively.
What is rebranding?
Rebranding is the process of changing the visual identity of an existing brand. Its purpose is to improve its image to achieve better business results. It can include changes to elements such as the logo, color scheme, typeface, style of promotional materials or product design. Rebranding can be complete and cover all aspects of a brand’s visual identity, or partial and focus only on specific elements. A well-executed rebranding process can increase brand recognition, attract new customers and improve a company’s bottom line.
When is it a good idea to opt for rebranding?
The decision to conduct a rebranding should always be made on the basis of an analysis of the brand’s situation in the market. Find out when refreshing a brand’s visual identity can be a hit!
Changes in the market
The market situation in many industries changes quite frequently and rapidly. Changes may include new technologies, changing consumer preferences or the emergence of additional competition. Interestingly, the impetus for refreshing the corporate identity can even be changes in the law related to environmental protection. All this can even force a company to rebrand in order to remain competitive and be positively perceived by potential customers.
Changes in the offer
Are you planning a big change in your offerings? Introducing new products and services or changing the profile of your business may require rebranding. By refreshing your corporate identity, you will ensure that your company’s image still matches its offerings. In such a situation, rebranding can help you attract new audiences.
Need to update image
An outdated, unfashionable image of a company negatively affects its perception by customers. Rebranding in such a case can be a way to show that your brand follows current trends. This can help you gain a reputation as a modern company and associate you with a professional approach to business.
Image problems
Image slip-ups of various kinds can negatively affect a company’s reputation. In some cases, rebranding may simply be an easier solution than trying to salvage the current image. Changing your logo, color scheme and other elements of your corporate identity will ensure that your offering does not automatically evoke negative associations.
Willingness to increase competitiveness
Rebranding can help a company become more competitive in the market. Introducing a new corporate identity can set a company apart from its competitors and attract customers’ attention. This is especially important in highly competitive industries. Rebranding can include promoting unique brand features, such as an eco-friendly approach to production.
Changes within the company
Organizational changes, such as mergers, acquisitions or restructurings, often result in the need for rebranding. A new corporate identity can help ensure a consistent image with business partners. However, rebranding in such a situation should be well thought out to avoid confusion among employees and customers.
Business development
Business expansion, such as entering new markets or reaching a wider range of potential customers, often requires rebranding. New markets may be governed by completely different laws, making it necessary to adapt the image to local conditions. Conversely, a change in strategy, such as from B2B to B2C, may require a completely new visual identity and communication strategy to effectively reach a new target audience.
How to carry out a corporate identity refresh?
Refreshing a company’s corporate identity requires a thoughtful strategy. The first step is to analyze the company’s current situation and identify the goals of the rebranding. Then it is necessary to determine what elements need to be changed and what values are to be emphasized. The design of new visual elements, such as the logo or color scheme, should be consistent with the company’s values. Once designed, it’s a good idea to run A/B tests to ensure that the new image can indeed deliver better results. In the last step, you will face the implementation of the rebranding o monitor the results of the changes.
Are you considering refreshing your company’s corporate identity, but have no idea how to go about it? Devispace interactive agency offers comprehensive corporate identity and rebranding services. Our team of specialists will help you develop an effective strategy and create a new, attractive image that will make your company more competitive in the market. Contact us to find out how we can help you with your brand metamorphosis!
