We Stand with Ukraine
If you wish to help Ukraine, please donate
Support Ukraine
Support Ukraine
Back

Rebranding: 6 Main Reasons to Update Your Business

Quality branding is a long process that includes several steps – company and market analysis, competitors and audience research, brand platform development, unique brand name, logo design, and corporate identity. However, this is the only way to create a consistent brand image that will interact with your audience and partners, increasing brand awareness and revenue.

Rebranding is the process of creating a new look and feel for an existing product or company. The result depends on the reasons for the rebranding and its goals. So, there are several reasons for a company to go for rebranding. One prominent factor is to connect with customers. 

Maybe you have ever felt that your brand no longer corresponds to who you really are or feel it now. But how do you know if your business needs rebranding? To get to the bottom of it, we’ll list why it’s time for you to go to the rebranding stage and how to get the desired result.

1. Your internal and external brand perceptions aren’t aligned

This can happens when the company launches a product or service without a brand strategy or complete understanding of the target audience because one of your main goals is to understand your audience’s needs and craft a brand strategy to guide expectations.

Take a look at your company holistically. Does your team feel the same about your brand as your target audience? If these views do not converge, you need to listen to your audience and make changes that will cover their needs.

For example, we want to show a piece of branding for UJay project. UJay lets audiences request music from DJs, using QR codes. And also lets DJs take requests and generate revenue from live events through audience engagement. It’s the coolest way to be seen at the hottest spots.

For this project, we provided a bunch of services, including a custom logo & brand design. This logo design is an idea wrapped in itself. Two letters are joined in a more meaningful way to become a unit, giving them all a little bit of character and symbolizing the continuity of the service and the connection between a listener and the DJ.

So, the brand design must match the product and audience.

Main Reasons to Update Your Business

2. New product or service launch

We know that launching a brand-new product or service is very exciting. But, still, when a company comes out with a new product or even a range of products or services, it can be the perfect time to consider rebranding to reflect the changes and opportunities. 

Updates also might mean a new market or target audience. So, it’s essential to consider it when thinking about your current branding or future changes to ensure that your brand reflects this new audience.

3. Changing markets

You are expanding to new markets, and your current branding doesn’t support the growth. For example, a business has used words in their name specific to one geographic region, and when their businesses experience a large amount of change, and it draws them out of this place, being named something like “California’s Dream” may complicate your way. Another example is fashion brands that have closed their physical stores only to sell online.

So, growing into a new market offers an excellent opportunity to review your business’s brand. Pay attention to the new competition and new target audience. And never be afraid of further steps! 

4. Your visual brand is outdated

Modernization is one of the most common reasons for undertaking a corporate rebranding project. People do judge a book by its cover. Your visual branding helps you stand out in the market and helps communicate relevancy to your audience.

Trends mean that brands come across as old-fashioned if they have not been updated over time. So keep an eye on trends so you don’t get lost among your competitors, but remember, it is essential to stay true to who you are to save customer confidence.

As an example, we also use one of our projects – JPL Law. We know that branding is one of the most important assets in the legal industry. So, our client requested to create branding that will show the qualities of a solid and modern brand while retaining her personality.

Even before we started working on the project, we understood that we won’t limit ourselves to the typical weighing scale, gavel logo, etc. So instead, we created the proper association – strength, and calm in an elegant logo with a clearly structured brandbook.

Together with the client, we chose a bright, fresh color that best emphasizes personality and a progressive approach to work.

 

Main Reasons to Update Your Business

5. New management

Significant changes within the company sometimes require a rebrand. If your business has a change of management, it is important that the brand identity stays aligned with these changes. Sometimes new management comes along with a renewed focus and direction within the company. 

But the perception of your target audience is what should drive the decision – a company should do rebranding or not. 

Focus on the target audience and not make it about the leadership itself, but why the change should intrigue your customers.

For example, in the case of Apple, following the return of Steve Jobs in 1997, the business realized it had to change to survive. Jobs himself took the responsibility of choosing a new logo, one which went from a rainbow-coloured apple to a more modern metallic variant.

Main Reasons to Update Your Business

6. Bad reputation

Rebranding can give your company a fresh start. It can help if a brand, for whatever reason it may be, starts to gain a bad reputation, which seriously impacts its operating results.

In this case, rebranding might include repositioning to change your client’s perception of a brand entirely. You might also consider changing the brand name or/and logo redesign. 

But it’s important to change not just the exterior but also effected through all aspects of the company. Because a brand is not only a name or a logo, it’s a representation of all the values, standards, and principles that your organization stands for.

For rebranding to lead you to success and bring great results, it is essential to understand the tasks and goals your rebranding should achieve.

For example,

– attract a new audience

– increase the loyalty of the existing one

– improve your brand reputation

– successfully enter a new market

– increase brand awareness

No matter why your company is considering a rebrand, if you want to get results, you should do it correctly. Because good branding is one of the most important investments you can make for your business’s long-term strategy, it can pay the most long-term result.

Take the time to do it right, and explore all aspects of your brand, including your audience, market, mission, and visual part. 

So you can start building a strategy that your potential customers will believe in.

Still not sure how to get started on your rebrand?

Sweetcode Lab team can help! We have extensive experience helping companies rebrand.

If you are thinking about a rebrand or relaunch of your business, we would be more than happy to discuss how we can meet your needs to support your business growth and stability. 

We look forward to talking to you – explore our portfolio and contact us at [email protected] for further information.