No matter how much you love your brand, there will come a time when you will need to change things up.
Your target market may grow uninterested, you may develop a questionable reputation, or new competitors may be putting pressure on you forcing you to mix up your business tactics.
When you are faced with these challenges, there are only two options; you can stay with the branding strategy that got you stuck in this sticky-mess, or you can rebrand your business, turn it into something new and start the process of rebuilding.
Rebranding a business’s goals, message and culture is hard, especially if your brand has market status – is well known or successful. And although many have tried to grow their brand, most have failed.
To be successful, a brand requires more than just a revamped logo. It demands a vision that inspires customers, investors, and others to transfer what they valued about the old and be continued on with the new. This way loyalty will remain regardless of your new identity.
It’s important to remember when rebranding that you should not to deviate too far from the core values you held and built into your business at the beginning of your journey. Dramatic brand changes could result in your audience losing sight in the business they had previously related to. So, why do businesses engage in a brand overhaul?
There are a number of reasons why businesses rebrand their brand;
- Potential for growth
- Keep up with the times/ staying relevant
- The desire to target a new audience
- Your business is merging with another
- Damaged reputation
To nail rebranding it all comes down to smart, well-researched angles, savvy marketing and better quality control.
Learn more on how your brand could be the new #watchthisspace
We’ve discovered some businesses who experiment with their branding. In an attempt to find new ways to revive their brands these brands succeeded. We believe their brands have not only continued down the same successful road, but have also been made stronger.
Apple has possibly one of the best rebranding stories of our era. In the early-to-mid-1990s Apple came dangerously close to bankruptcy. The brand didn’t stand for much, and certainly didn’t stand out, until Steve Jobs took over the company and changed everything from the look to the product and the series of strong marketing and advertising campaigns.
Burberry is a fantastic example of how a brand can change its image with a few simple marketing tweaks. Just a couple decades ago, Burberry was suffering from a bad reputation, being associated as gang wear. In 2001, a new creative director, Christopher Bailey, took over and started introducing new products like swimwear and trench coats that were unaffiliated with previous images of the brand. Celebrity endorsements from Emma Watson and Kate Moss helped cement the new image of Burberry, and now the company is a major luxury brand, touted as a symbol of high class and wealth.
Regardless of the motives, these companies recognised the need to implement a comprehensive rebranding strategy to take their businesses to the next level.
Rebranding isn’t simple, and it can’t be done overnight. Instead, you’ll need to dive deep into your company and your target demographics; why, exactly, is your current brand failing? Is there a way to recover with your current audience, or do you need to target a new audience? What’s the best way to reach this new audience? What are the best marketing channels, ideas, and images to associate with yourself? There’s no right answer to these questions, and the possibilities can be intimidating, but in any case, if your current brand isn’t working—it needs to change.
Is your business interested in engaged in a rebranding strategy? Fish Tank Creative will work closely with you to help your brand succeed. For more information, please get in contact with us.