Corporate Rebranding: When and Why It’s Necessary

Rebrand,Change,Corporate,Identity,Marketing,Concept
  • March 06th, 2024

Company logos can be hard to let go of, especially if you’re a long-running business with decades of industry experience. However, sometimes, the best pathway forward is to rebrand, reinvent, and resurface with a fresh and dynamic image.

According to a brand awareness survey from Study Find, 60% of consumers avoid companies with logos that have strange or unappealing designs, even if they are well-regarded with good reviews. This study demonstrates that even businesses that offer first-class services may still fall behind their competition due to their logos and branding.

So, if your business is considering a change, we’re here to break down when and why corporate rebranding is necessary. This will also include an in-depth look into the importance of brand-new corporate signage.

Signs You Need To Rebrand 

Knowing when to rebrand is often the hardest part of the process. While this approach could have been at the back of your mind for some time, there are various signs that indicate it may be time to kickstart the process.

There are a few signs to look out for.

Your brand name doesn’t reflect your vision

Since a strong name represents your brand story, you want something that accurately represents what you do. While certain branding might have worked well ten years ago, it may not have the same effect today!

You’ve outgrown your brand

Do you have extensive brand management? There can be times when you’ve outgrown your original ideas for business. 

Accommodate for growth by measuring strengths and weaknesses, leveraging your strengths moving forward. Focus on the areas where it will shine the brightest.

You have moved or expanded 

Have you moved beyond the state or city where your business started? Have you pivoted from one core service to multiple different areas?

New customers often have different needs, so customer research is critical and can involve a full-scale rebrand! This helps you to pinpoint unique challenges in your new location with an evidence-based approach that defines your target audience. 

Your business model has changed

If your business strategy or model has changed, a rebrand can solidify your company’s purpose, mission, vision, and values. Think about where your company is heading, where it is heading, how it is heading there, and why it existed in the first place.

You’re undergoing an acquisition 

Mergers and acquisitions often involve rebranding at some level. 

In this case, you must consider relationships between newly merged brands, products, and services to prevent redundancy, inconsistency, and confusion from your target audience.

Your brand is overcomplicated

Is your brand hard for your target market to understand? Customers need to get a clear idea of what you do at first glance.

Your brand must remain focused, which is even more critical to larger organisations. Copying the competition, weak value propositions, and a general lack of relevance can lead to brand confusion. Rebranding is an effective way to simplify.

Failing to differ yourself from competition

Does your brand appear to look like every other brand? If you can’t communicate how you are different, it may be time for a rebrand! Growth can be challenging, so your employees and potential customers must understand why your brand is superior.

Essential Factors To Consider When Rebranding

There are things to consider to achieve a successful rebrand, as this can impact how your target audience perceives you. 

Clear objectives. Are you aiming to reach a new audience, differentiate yourself from other companies,  update your brand image, or implement a partial rebrand? Having a clear set of goals will guide the entire process.

Market research. Understand your target audience, competitors, market position, industry trends, and consumer perceptions of your current brand. This will help you make informed business decisions.

Brand identity. Think about your brand values, personality, and positioning. Branding efforts should align with your brand identity for consistency and authenticity. 

Stakeholder involvement. A strong brand strategy involves employees, customers, and business partners. Input and feedback provide valuable insight and build support for the new brand direction.

Visual identity. Update your brand colours, typography, and image to reflect your brand identity accurately. After all, consistent visual branding reinforces brand identity and recall.

Marketing and communication plan. Develop a comprehensive marketing plan, considering how you’ll communicate changes to your audience to generate engagement and excitement!

Implementation strategy. Plan timing, budget, and resource allocation, and ensure all stakeholders are ready for the transition.

Measurement and evaluation. Has your brand reflected negative associations? Measure the success of your rebranding efforts, such as perception and customer engagement. Re-evaluating these measures allows your team to identify areas of improvement!

The Rebranding Process – A Step By Step Guide 

Image Source: https://www.shutterstock.com/image-photo/happy-business-colleagues-discussing-

So you’ve decided to rebrand. What’s next? Here is a comprehensive step-by-step guide.

1. Redefine company mission, vision, and values

What is your vision? This can affect the hiring process, website design, and your company’s actions.

Your mission is your company’s roadmap, and your messages must match your tone, vocabulary, and voice. Likewise, what is the reason behind your brand? Why are you dedicated to your mission?

Brands expand and change, and old values must be updated and reflect your company’s values today.

2. Rename your company

A company name can impact online search traffic and brand recognition, so always plan your post-branding strategy. 

Modify a word’s spelling, make a new word, add a prefix or suffix, bring two words together, or use a location. A new name has a chance to support growth in the long term.

3. Reconsider your brand’s slogan

A catchy slogan captures your company vision. Use starting points such as making a claim, using poetic language, providing instructions for your target audience, getting metaphorical, leveraging labels, or complimenting customers!

4. Rebuild brand identity

Instead of symbolism, create a simple logo, make an impact to stand out, be adaptable, choose an appropriate design, and consider the long term.

In terms of colour palettes, use colour psychology and competitor research. Revisit your typography, shapes, and imagery, and build new brand guidelines alongside colour variations, clear space, logo elements, and what you want to avoid.

 

5. Plan a successful launch

You can use social media, press releases, and media contacts to work on publicising your brand. 

Piece together promo assets for platforms such as infographics and videos, and have them easily on hand for sharing with press and partners, and ensure it is high resolution!

With a better understanding of what you offer, you may see an increase in traffic or greater interest in your company. You may also be easier to find in search engines! Rebranding is an excellent way to receive a more positive reaction and make someone happy to associate with your new brand. 

Corporate Rebranding in Melbourne

At Swift Signs, we understand how a rebrand can make your brand more successful. Having designed, produced, and installed high-quality signs for over 50 years, our extensive experience places us as one of Melbourne’s best sign companies.

Covering all forms of professional signage, such as 3D illuminated letter signs, solar illuminated signs, business signs, and wayfinding signs in Melbourne, our state-of-the-art complex in Campbellfield works with you to create the perfect signage solution for your business objectives! 

Contact us today for vehicle graphics, general signage, digital printing, and a range of creative corporate rebranding options.