How does rebranding influence a brand? In Canada, as in many other countries, companies, and brands may need a makeover. Either because their business objectives are not being achieved or because the applied strategies stopped working at a certain point.
This need for change is also given by the rise of social media and the emergence of new technologies. Since these have changed the way of consumption and marketing, facing traditional advertising and its methods, which, although still valid, have been undermined by the digital age.
Therefore, in the face of this avalanche of changes that many companies and brands must face, the question arises as to whether to give up or try again with another turn. Thus, rebranding is the most appropriate response to this situation. By applying this strategy, you can get significant changes in the perception the public has of a brand or company, and that has all those actions aimed at redefining or building the corporate image again.
What is rebranding?
Rebranding is a marketing strategy that seeks a change, either totally or partially, of a brand or company concerning its image.
All through small, medium, or significant modifications, which can include appearance, logo, fonts, colors, communication, the name of the company, and the renewal of products or services, among others.
Types of branding
It is produced by the decision of the same company or brand, wanting to renew its image to adapt to current changes. This also includes the want to maintain its essence and only modify aesthetic aspects without altering the initial values or brand´s philosophy.
It happens when a brand or company falls into crisis and needs a fresh-up as a response to external factors influencing, such as low acceptance or in cases of mergers.
This addresses the question, why should I rebrand my brand if I feel that everything is going well? For this reason, we will tell you about the objectives sought to be achieved when applying this strategy.
Restoring a damaged image
It may come to a point at which the corporate image of a company or brand deteriorates. Either because a product did not obtain the expected result, the company has been involved in negative situations, or they have not had optimal adaptability to the digital resources. All these are reasons why rebranding becomes more than a solution, a necessity.
Improve the image concerning prejudices and paradigms
Indeed, a brand can be successful and well-recognized. However, the public may need to perceive it better for certain practices. This often happens with ecological issues, sustainability, and industrial processes. Since many companies need to keep up with current environmental needs.
For this reason, many modify colors and introduce logos alluding to environmental care to show an image according to what the public demands. Thus, they improve it without making radical changes such as modifying the name, logo, etc.
Expand or change the target audience
Over the years, the objectives can change, and the corporate identity may no longer align with the values and direction that the company or brand requires.
Sometimes, the strategies applied do not aim to reach the target audience necessary to achieve the goals set.
So rebranding becomes a lifesaver in this situation to develop new strategies.
Advantages and disadvantages of Rebranding
Even though rebranding can be associated with negative or crisis moments for a brand, it is also true that it is beneficial because:
- Brands gain a positive image and link to the right markets.
- Applying a good rebranding strategy will translate into profitability, this being a basic business objective.
But not everything is rosy, so it also implies a series of things like:
- They can negatively impact loyal customers.
- Friction is generated in the interaction with consumers.
- It is possible that, despite applying to rebrand, the objectives are not met, and the brand’s status is the same as at the beginning.
When to rebrand?
There are multiple scenarios in which rebranding applies, these being some of them.
In case the brand image is outdated
A business or brand, in its beginnings, may have allocated a large budget to create an appropriate corporate image aligned with its values and objectives. Yet, over time and growth, they realize the importance and relevance of the same, and it is necessary to renew its image and be at the forefront of digital design.
In case of an internal restructuring
When substantial internal changes are made, such as the objectives, the business model, and the target audience to which it is directed, these modifications must also be seen in the public light. So, it is necessary to define how they will be shown.
In cases of bad reputation
A company involved in scandals or similar situations will undoubtedly have a bad image since many customers and users will stop identifying with it. Therefore, in the face of this deteriorated and negative reflection, it is even necessary to start over and design a new image that gives it another air and recovers lost ground.
Risks that rebranding implies for a brand
Yes, there are also risks when doing rebranding in some instances:
When the brand does not reflect benefits
If the communication of rebranding does not make it possible to reflect the benefits of this process and applied strategy.
When there is consolidated popularity
There are companies that, since their inception, have been solid in terms of popularity and acceptance, so a rebranding can bring down all that and, on the contrary, generate distrust of change, thus losing followers, loyalty, and approval.
When the message of the changes is not clear
The rebranding was done, but the public failed to perceive it in how it was designed and thought of, and it did not achieve the goal of reaching the ideal and final customer.
When rebranding, you work on something new, which must be communicated to the public, so they know you again.
It is also imperative that all these applied changes are connected and attend to the philosophy and value of the company, so you have to make sure that the style, form, and language in which the message is addressed to him is ideal.
When the brand does not require a change
Rebranding is a very beneficial strategy as long as, as we indicated, it is necessary and applied or executed correctly and meticulously at each step without neglecting the users and the target audience.
If your brand needs a rebranding, go to the professionals at BluCactus Canada, who will provide you with the best tools, give your business a new image, and grow your brand transparently and effectively.
Subscribe to our monthly newsletter and get updated information on digital marketing.