What’s really in a brand? Is it your logo, your company colors, the name of your business? The answer is yes, but it’s also much more. A brand is like many relationships, it’s complicated, lol.

Your brand is the interactions with your customers, it’s how you make them feel, it’s what you do. It is how partners feel about working with you. It’s the feeling employees get when it’s time to go to work. It’s quite simply everything that comes to mind when your name is mentioned.

Branding is who you are, but just like people, it has to grow, evolve and adapt to change.

Why do companies rebrand?

Companies rebrand for different reasons and truthfully, it’s not always the answer. The choice to rebrand could be due to any of the following reasons.

• Your customer base has changed
• The aesthetics of your brand may no longer speak to your vision, values or current offerings
• Your company is expanding
• You don’t stand out enough in the marketplace
• Customers have difficulty connecting with your company and message
• New management
• Outdated image

Over the years, we’ve seen big companies like Dunkin’ Donuts, MailChimp, Taco Bell and Instagram rebrand, so it’s not an uncommon thing.

What is rebranding?

Rebranding is a marketing strategy in which you change your company image. This could be done by a combination of any of the following: logo redesign, website makeover, new color scheme, revamping terminology, new messaging, etc. The goal of this strategy is to change how customers, ambassadors, partners, competitors, and employees feel about your company.

Rebranding can work miracles for companies looking to stand out from the competition, become more modern or even clean up a tarnished reputation.

Should you consider rebranding?

As I’ve already mentioned in this article, there are very specific reasons for companies wanting to rebrand. Taking on this type of project depends on where you currently are and the route you plan traveling to get to the next level.

Here are some questions to ask yourself:

• Will a rebrand damage any equity you’ve already built in your company? Do you think your customers would welcome the change?
• Are you financially ready for the investment? Rebranding can cost a pretty penny and requires a complete overhaul in the way you communicate your business over existing marketing channels, online and offline.
• Will rebranding create a significant change in how customers view you (in a positive way)?
• What problem will the rebrand solve? Rebranding just to rebrand is a waste of time, energy, and resources. You need to be clear on the problem you’re trying to solve and be certain rebranding is the solution.

Once you’ve decided that rebranding is the answer, next you’ll need to develop a strategy. If you need help, we’d love to schedule a chat to see if partnering with UpSpark Creative is a good fit. If you’re considering tackling it on your own, stay tuned for our next post. In our next post, we’ll talk about rebranding strategy and implementation.

If you have something to add to the discussion, feel free to drop a line in the comment section below.