Rebrand | What is Rebranding?
It's all about perception.
The act of changing the image and/or message of an organization is referred to as Rebranding. Transitioning an already established brand by christening it with a new identity is a marketing strategy which customarily aims to shift the existing brand upmarket or potentially reposition it to distance itself from negative connotations which have unfortunately been attached to the brand. Additional reasons for initiating a rebrand is a company's move away from or advancement of their original mandate, such as the expansion of product offerings or mergers and acquisitions.
Sometimes, rather than a full rebrand, a partial rebrand - or refresh - is all that is required to breath new life into a company. This would typically involve an updated or re-imagined logo and a possible change in content focus. This approach, while minimizing effort and budget, may also have the lowest impact on the market so should be considered carefully based on the end result desired.
When an opportunity is realized that will empower a company to reconnect with its customers through growth and innovation and it is capitalized on by a rebranding campaign, this is referred to as Proactive Branding.
Negative publicity, legal issues, and even a merger or acquisition that triggers an existing brand be discontinued or reinvented in order to restore faith and build a new face for the company is known as Reactive Branding.
How important is it, really?
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