Rebranding is not nearly as simple as updating your logo and tagline and calling it a day. When done well, not only does it mean applying a comprehensive process to your rebrand, but there are also logistics to consider now that our brands have SO many touchpoints and channels.
Though it can be a time-consuming process, sometimes it is absolutely the right time to rebrand your business, and here we’ll talk about some of the pros and cons of rebranding to help you determine whether it should be in the cards for your company right now:
Become relevant to a new audience. Maybe your company has been around for a while, and it’s time to refresh your brand to appeal to a new audience segment. Presumably, your company goals (and perhaps even mission and vision) have shifted as you’ve learned more about who your company is today and where it’s headed, but sometimes making sure to reflect those insights through your company’s branding (image, personality, tone, look and feel, etc.) can help you become relevant to a whole new set of customers. Rebranding can also help attract customers if you’re a newer company and feel like your current branding has really missed the mark (it’s not being correctly interpreted by your target audience, or just doesn’t have staying power with them).
Add energy to your company internally. A rebranding process can be an exciting one from an internal standpoint, and it’s a great opportunity to build some internal motivation by identifying brand ambassadors within your company and having them play key roles in your brand redevelopment process.
Create an excuse to have a conversation with your customers. A rebrand is big news, and it gives you an opportunity to engage with your customers when it launches (or potentially even involve a few key customers in the rebranding process itself to ensure you have consumer input). As part of your rebranding process, definitely account for an external launch to make sure your rebranding efforts can get you the most bang for your buck possible. Ideally, it will spark engagement, excitement, and conversation among your customers and re-energize their enthusiasm for your brand. (Consider getting some of your mega-fan customers to not just be involved in the input process, but also in the launch process to help you spread the word of your new and improved brand!)
The potential to introduce confusion. Change can not only be hard -- without a well-planning communication strategy, it can also be just plain confusing. If you don’t put thought and effort toward letting your customers (and internal employees) know that you’re changing your brand (and perhaps WHY you’re changing your brand, too), your well-intentioned efforts can miss their mark.
Rebranding takes time -- and money. A well-run rebrand often means calling in outside resources to help with the process, and if you’re going to go through a rebranding exercise it’s important to do it well. It will involve lots of internal and consumer conversations, competitive research, testing, brainstorming and creative development, and more. That work doesn’t happen quickly, and it’s not cheap. Then, once your new brand is locked in, you’ll need to make sure it’s reflected company wide. (Everything from the letterhead to the website to the signage on buildings to the logo on shipping boxes will eventually need to be updated.)
Some customers might not get on board with the adjustment. If you’re going through a rebrand, it’s likely because you feel like you can and should reflect your brand in a different way. There are going to be some customers, though, who were very content with the old brand, and who might be turned off by the new one, whatever it is. Though ideally you’ll gain far more customers than you’ll lose in a rebrand process, it is worth noting that some may be rather vocal about not liking the change.