Is It Time For A Rebrand?
Rebranding is no mean feat. It requires thorough examination and development of your brand strategy. More challenging, is translating this into optimum change within the spectrum of change. Rational objectives will no doubt be to speak to given and developing target audiences ahead of the competition. However, the real challenge is with the existing stakeholders. Not only taking existing customers and clients with you, but also your team – including founders and owners. This requires a sound process and must include vision, values, positioning and proposition to ensure you are pitching to the right audience.
More often than not, rebranding is a very serious marker of your company’s commitment to evolution and upward growth. If we look at when rebranding is most effective – there really are no set of rules.
Some of the world’s most recognisable brands are on completely different sides of the spectrum in terms of rebrands. For example, Pepsi is on the much higher end with eleven rebrands on the record since its creation in 1898. Starbucks, on the other hand, sits on the much lower end of the spectrum, with only four rebrands on record since it was founded in 1971.
So, what are the signs that you need to undergo a rebrand? One of the top reasons is the loss of relevancy or impact in the market place. With disruptors constantly entering the market at an even faster pace these days due to digital innovation and social media, staying fresh and ahead of the game is even more important.
At Traffic we know that the key to a company’s relevance is the evolution of the brand. And one of the primary responsibilities of any marketing team or agency, is to know when it’s time to advance a company’s legacy by transforming its brand.
In addition, other reasons why a brand refresh may also be necessary may include:
- Tapping into a new demographic
- Outgrowing your existing brand mission / image
- Looking out of date
- Digital transformation
- Your company is expanding / acquiring
- Your company is merging
- For reputation management purposes
- Change in leadership
No matter what the reason, if you’re thinking of re-branding, we’d love to hear from you! Our team of brand experts at Traffic can discuss your requirements and take you through the whole transformation process.