Businesses undergo rebrands for a number of reasons, from negative associations with the current brand to changes in product offerings. A rebrand can engage—or drive away—consumers, so it’s essential that any brand changes are made for the right reasons. Luckily, approaching a rebrand with a defined strategy can help pave the way for success.
Finding the Right Time to Rebrand
Successful rebrands happen for the right reasons. A rebrand won’t be successful if it’s used as a band-aid for other concerns or to mitigate pressure from leadership or competition from other brands.
A Strategic Approach to Rebranding
When it comes to rebranding, start by identifying how much you need to change. A rebrand doesn’t have to start from scratch—though it certainly can, allowing you to completely reinvent your image and voice. If you want to focus on maintaining or improving your image and consumer based, consider if a simple refresh with updated colors or logos will do the trick. If you’re looking to elevate your current brand, a visual rebrand with a new visual identity can help attract new audiences while keeping your current customer base.
Learning Branding Basics
If you’re thinking about rebranding or about to get started, you don’t have to reinvent the wheel. Take a look at brands who have already gone through a rebrand to learn from their mistakes or successes. For example, when IHOP temporarily changed their name, they damaged their reputation; conversely, Dunkin’ received high praise for their branding changes that better aligned with their customers’ needs.
To learn more about the essentials of rebranding, view the infographic by University of Maryland Robert H. Smith School of Business online: