The Power of a Rebrand
To rebrand or not to rebrand…
To mark the release of our very own rebrand (including both a new website, social media overhauls, and general branding) I thought it was a good idea to outline the exponentially positive impact that a rebrand can have, and how they inject fresh ideas and success into a business.
A rebrand involves updating and refreshing business's brand image and messaging to better align with its current goals and values. This may involve changes such as changes to a company's name, logo and more. A fuller list includes:
- Creative assistance (logos, social media and native branding), a new strategy, brand guidelines (including typography, colours, straplines, tone of voice, imagery and iconography), a new brand identity, positioning and general assets!
(P.S. Those are all things we can do for you!)
The goal of a rebrand is to create a more modern, relevant and attractive image for a business. One that resonates with its target audience, realigning all of its goals and values into this change, aiming to make it unique and stand out in its specific market.
A rebrand can be done for a multitude of reasons, including changes in market trends, changes in company leadership, needing a new strategic direction, a failing product, the desire to appeal to a new target audience, or simply the desire to have a brand new fresh look.
A successful rebrand can lead to several benefits for businesses, that include:
- An increased brand awareness, as the fresh new, vibrant look can attract attention from both existing and new customers; thus, in turn, increasing customer retention, and gaining new customers.
- Following from this, a well-executed rebrand can resonate with customers and prove to them that the company is evolving to better meet their needs. This can help both build trust and enhance customer loyalty.
- Rebranding can differentiate a company from its competitors and as previously mentioned, assist it in standing out in its industry. This can give them a competitive edge, and possibly a new unique selling point, making it more attractive to potential customers.
- Finally, the big one that every business is really aiming towards. Increased revenue. Rebranding can help a company expand into new markets or attract new customers, which can lead to increased revenue and growth.
There are many case studies of successful rebrands that provides plenty of reason as to why to go through with one…
One of the most successful rebrands in recent years was Airbnb’s in 2014. The company updated its logo, messaging, and website to better reflect its focus on community and hospitality. The new brand helped Airbnb expand into new markets and increase its valuation to over $30 billion!!! This has now made them the biggest accommodation business on earth, owning no hotels, crazy.
Another example of a successful rebrand is Mailchimp’s in 2018. The email marketing company updated its logo, messaging, and website to better reflect its focus on helping small businesses grow. The new brand helped Mailchimp increase its revenue and expand into new markets, such as social media advertising. This one certainly has worked in our opinion, as it is the platform we use for our weekly newsletter release, which you can sign up for on our website homepage!
However, not all rebrands are successful, especially if they are not well thought out. An example of this is the attempted rebrand of Premier League club Cardiff City in 2012. The club’s owner, Vincent Tan, announced plans to change the team’s traditional blue kit and badge, which had been a part of the club’s identity for over 100 years, to a red kit and a new emblem featuring a red dragon.
Tan argued that the rebrand was necessary to appeal to the Asian market and increase the club’s global appeal. However, the decision was met with fierce opposition from fans who felt that the move eradicated the club’s history and identity. Many fans staged protests and boycotted matches in response to the rebrand, and some even formed a breakaway club called Cardiff City Supporters’ Trust FC.
The football industry is certainly unique when it comes to loyalty and tradition, as our Instagram polls suggested! The overarching opinion when comparing a club’s old badge to its new one; was that tradition prevails always!
This serves as an example of how when considering a rebrand, adequate research is necessary. This includes the business’s industry, customer base and projected vision, they need to communicate a clear message and stay true to the company’s values and identity. The impact of a rebrand can be extreme in both a positive and negative light. As with any business decision, the key is to carefully evaluate the potential risks and benefits before moving forward with a rebrand.
