Rebranding. Time to start a new chapter?
"Times, they are a-changing.” Bob Dylan really hit the nail on the head. Times are changing at a relentless speed, especially in this digital age. As a result, brands need to be more flexible than ever so they can grow with the times. In some cases a whole new stategy needs to be created.
Rebranding is not just giving your brand a facelift, it involves much more than that. We’re not just going to renovate the façade of the building, rather we’ll demolish and rebuild the interior walls and create a whole new interior. For every company a rebranding means quite a radical change, so it’s a decision not be taken lightly. For example, an outdated logo doesn’t necessarily mean that the whole corporate identity must be thrown out the window.
But then... When is the time ripe to burn your current branding to ashes and instead opt for something fresh, shiny and new? We wouldn't be Boil Agency if couldn’t tell you.
1. Your brand doesn’t really stand out.
Is your brand just one of the same? Try to be honest with yourself. Just like parents always think their child practically perfect, entrepreneurs also tend to hide their brands weaknesses behind their love for the company. Do you have any outstanding qualities that really set you apart from the competition?
Especially in highly competitive sectors, it’s difficult to stand out these days. People are often looking for that one company that does things just that little bit differently. Basically, you need to pour some ‘special sauce’ on your brand and how to serve that sauce to a larger audience. Learning how to communicate your USP in daily interactions with customers is a necessity, but it isn’t always easy.
When you do decide to rebrand, make a proactive decision to stand out from the crowd from now on.
2. Time to tap into new markets?
Do you want to reach a wider audience? Think of branding as dating: if you want to date more people, you won't succeed in doing so with the same attitude and outfit from 2007. New target groups mean new people, and new people mean different desires and needs. So, time to get back in the game!
3. Your brand is hopelessly old-fashioned.
Do you still communicate exclusively offline? Is Comic Sans MS your go-to font? Is the highlight of your day the gossiping around the coffee machine? Then it's high time to start rebranding!
Many companies think they can ride the wave of success in the past, unfortunately the ingredients for success are not the same today as they were in 2003. Just like flip phones and dial-up internet, you'd rather leave strategies of the past where they belong. The line between an established brand or an outdated one is sometimes wafer-thin. A thorough survey of your target audience can provide answers for the future.
4. Image problems.
Sometimes things go wrong. Maybe your CEO or an ambassador commits a major blunder that is difficult to bounce back from. Negative publicity can sometimes offer extra opportunities, but in our current ‘cancel culture’ it’s more a case of closing the stable doors after the horse has bolted. Often, it’s fiendishly difficult to get rid of the negative association. In such cases, rebranding is the right answer. A good example is The Lance Armstrong Foundation that rebranded itself as the Livestrong Foundation, after Lance was discredited for his unauthorised use of stimulants during competitions such as the Tour de France.
5. Takeover, acquisition or merger.
According to Harvard Business Review 70 to 90 % of company mergers end in a major blunder. So maybe they’re even are the biggest reason to opt for rebranding. Just like people getting a makeover when they want afresh start, a new era for a company also requires a new look. Especially, because from that moment on the company will be associated with a different brand. It’s the ideal time to make a fresh start.
Leave it to the professionals.
A rebranding that isn’t 100% strategically waterproof defeats its own purpose. You might just as well stick to your original identity. Apart from that, winging your own rebranding can be quite risky. It’s not just a matter of reaching new target groups, but you’ll also want to keep your current customer base. In addition, your staff and all other stakeholders need to embrace the new strategy. That is exactly why you’ll want to turn to seasoned specialists for this whole process.
How about Boil Agency? We’re truly gourmet when it comes to rebranding. Send us a message to find your recipe for success.