As most experienced professionals know, a successful rebrand requires a lot of work. Rebranding isn’t a quick-fix; nor is it a miracle solution to all of a company’s problems.
However, when done well, a rebrand can dramatically improve a business’s reputation and viability. Here, we’ll explain the five key benefits associated with rebranding, as well as what you can do to ensure your rebrand goes as smoothly as possible:
Chance to Reset
Understandably, the most obvious advantage of a rebrand is that it allows a company to hit the reset button, so to speak. Rebranding gives businesses the power to control the conversation about their goals, values, and future. It’s worth noting that a rebrand won’t erase what happened in the past; it will, though, give professionals the opportunity to put things right that have gone wrong previously.
When a company rebrands, it changes virtually everything about its appearance. Ideally, this should help a company become more visible and recognizable. Introducing a quality logo, for instance, can make it easier for consumers to remember your brand. What’s more, many businesses alter the appearance of their website during a rebrand in order to appeal to consumers.
In general, most businesses focus on one or two demographics when they market a product or a service. This is a good practice. After all, the more specific your targeting efforts are, the better chance you have of converting the leads you generate. Sometimes, though, companies want to shift gears and “go after” a new demographic or two. A rebrand affords companies the opportunity to reach out to new customers in an organic way. Rebranding signals that you’ve changed, and as such, are open to courting a new type of consumer.
Have you ever encountered a group of businesses that looked, spoke, and acted in a nearly identical manner? If your brand bears a strong resemblance to those of your competitors, then changing things up can help you stand out from the crowd and realize a new, stronger identity. Remember, it’s always beneficial for a company to be eye catching!
At the end of the day, a rebrand can and should deliver increased revenue as a result of greater exposure. True, rebrands are about ushering in a big change at your company, but they’re also designed to enhance a business’s potential. No one rebrands to scale down.
The Bottom Line
Think your business is primed for a rebrand? Before you make any decision on rebranding, make sure to speak to an agency like Communications for Research (CFR) first. Organizations like CFR will help you gain valuable consumer insights –– so that you can make smart marketing, branding, and PR choices moving forward!