When and Why It’s Crucial to Rebrand Your Business
In this article, you’ll learn why it’s very important to rebrand your business and when it’s the right time to do it. We’ll provide you with five great reasons to think about rebranding, along with real-world instances, and prove how it could help your company’s growth.
- Out with the Old, In with the New:
Everything in the world moves fast. Suppose you think your brand is stuck in the past. Rebranding might help you reach out to a new generation of customers and stay updated in an evolving market.
Let’s say you own a 20, year old clothes company. There were a lot of big logos on the cloth in bright neon colours. Back then, that was maybe the style.
But nowadays, fashion trends have changed. People are more interested in natural fabrics, minimalist designs, and sustainable brands. Today’s customers may not find your clothing company appealing if it keeps selling the same 20, year-old styles.
In this scenario, you must think about rebranding to remain relevant. It would be possible for you to choose more eco-friendly materials, alter your designs to suit current trends, and even adopt a more modern brand name. By doing this, you could attract a new generation and maintain your competitiveness in the fashion industry.
- Coming Together:
A rebrand can help to create a unified brand that shows the benefits of both businesses. Consider it to be a brand marriage!
Let’s say “Creamy Delight” and “Frosty Treats,” two well-known ice cream companies, decide to merge. Each brand has a loyal customer base with unique flavors.
It could be confusing for customers if they continue to use both brand names. They may question whether the flavors have changed or which brand is superior.
They may choose to rebrand under a different name, such as “Ice Cream Paradise.” Customers would know they’re getting a wider range of tasty flavors, and the two companies would come together to create one brand that represents their combined features.
- Damaged reputation:
Rebranding can help you start over and get rid of any baggage your brand made from some missteps or negative publicity. It is similar to pressing the reset button.
Apple struggled to survive in the late 1990s. The tech giant needs major changes because of its falling popularity and financial challenges. Their answer? The iMac. This colorful, user-friendly computer gave the brand a fresh life. The iMac won over customers with its stylish appearance and cutting-edge capabilities, turning a corner for Apple. Apple’s successful rebranding helped the brand to rise to the top of the global corporate value rankings.
- Getting Bigger:
Expanding your product line or bringing new products/services to the market? Rebranding could help your brand stay unique and adapt to these changes.
McDonald’s is a great example of a business that has effectively changed its brand according to the changing tastes of customers. McDonald’s, best known for its burgers and fries, has added salads and grilled chicken to its menu, which are healthier alternatives. McDonald’s has redesigned its restaurants and marketing collateral to better represent their wider range of products. As a result, they were able to attract a broader spectrum of clients and remain relevant.
- Repositioning Your Brand:
A rebrand can show to the outside world how your business is changing and growing. It’s a way of stating, “Our company has changed from what it was. Now we’re better!”
Rebranding attempts have been made multiple times by the well-known Indian brand ‘Tata Tea’. The company changed its product name to Tata Tea – Jaago Re! in 2008 to highlight its commitment to social awakening and individual empowerment. Through this rebranding, Tata Tea was positioned as a brand that stood for social change, which was supported through an effective advertising campaign that well-connected with Indian youth.
Are you ready to rebrand your brand? Let us help you with rebranding your brand’s identity and improve the brand experience for your customers. To set up a consultation and begin the process of rethinking your brand, now you can connect with us to ensure the success of your business in the rapidly changing market At Orrigem Hub, we’re passionate about helping entrepreneurs like you, to find their voice in the crowded marketplace. Don’t underestimate the power of the rebranding. Let your brand speak about your business.
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