Let’s play again – Invest in a fresh start with rebranding!
Rebranding… branding again. That is a deep strategic decision that goes beyond the simple redesign of the logo or the redefinition of colours and brand guidelines. It really needs to be sparkling clear: rebranding is something more than just an aesthetic intervention.
Surely, visuals are a great part of it, and allow us to explain in details what you can achieve, but it is much more than just that! So, what is this rebranding all about and, above all, why would you need it?
In simple words, rebranding is the process that gives a new communication power to your organisation or a product, in order to make it attractive again or more successful. The result of rebranding could take many different outcomes. Here, we propose three logo re-shaping examples, which are, in our opinion, useful to understand how rebranding could adapt to different organisation needs and underline the different shades of outcomes.
The real question is – why do companies rebrand?
In fact, to understand the essence of rebranding in details, it is important to highlight the different reasons that could lead a business to start a corporate or product rebranding! A company could rebrand to take an opportunity or prevent potential threats in the future, such as:
preparing itself for an expected international growth (rebrand products and services into a consolidated brand)
entering into a new market (rebranding to make the existing brand cohesive to the new segment), or being appealing to a new target
strengthening a brand that is losing relevancy in consumers’ minds
Some other time, a company can find itself in the situation of reacting to a certain event, that in a way is imposing the rebranding, such as in the event of merging or acquisitions, or in worse cases, such as legal issues (i.e. intellectual property infringements) or negative publicity. Markets evolve, consumer behaviours change and organisations need to be careful about how they communicate their brands. It happens very often that the original brand idea based on certain market and social conditions is no longer “in the right place, at the right time”. That is what a rebranding is – to make a company to be “in the right place, at the right time” with the right brand.
And now, the most wanted answer – how much does rebranding cost?
First step, let’s not talk about costs, but rather about investments. That’s it – rebranding is a proper investment for the future, that is going to pay you off in terms of revenues, recognition and goodwill. The best answer is “it depends”. There are in fact different variables to take into account, such the business size, the business phase, the number of physical implementations (such as signs, business cards, leaflets and other print collaterals) and the quality. Furthermore, the process, the strategy and the final creative creations are tailored on the client, its needs and its capacity and willingness to invest! Hence, the best answer is “it depends and it is adaptable depending on the client, its requirements and its capabilities”.
Last point – where do you start?
The majority would say that the first step is a brand audit, to understand how stakeholders perceive your brand. I would say that the best starting point is you, your organisation and your product or service. Start from your own story and values – that is the first step. Understand where you are, what you do and what you want to be. Then? Then you are ready to rebrand!
Now a little question for you, do you see rebranding as a cost or an investment? Drop a comment and discuss about it!
by Chiara Lamacchia