Rebranding is relatively common in the market-place, particularly for more major companies. Rebranding will often be the driver in a substantial effort, to alter the consumer’s’ perception of a brand, or to show a company’s progression within an evolving market place.
Let’s take Coca-Cola as an example, in 2014 it was reported that they lost £30m in UK retail sales. Pepsi on the other had, saw an increase in sales, largely accreditable to their sugar free product Pepsi Max. In retaliation, Coca-Cola adjusted their branding strategy & released a new range of sugar free or reduced sugar products – Coca-Cola Zero & Coca-Cola Life for example.
As consumer, we may not always notice a re-brand, as they are not all on such a global scale, slightly tweaking a logo or updating a website font for instance. However, a re-brand is often a company making a strong statement of intent. They are ready to evolve.
So when do you know if it’s the right time to re-brand? Ask yourself the following questions:
Are you attracting your desired customers?
Are you attracting the customers that you are looking for? For example, have you now added a number of improved products or services to your offering, but they are not being purchased by the desired consumer?
Is your logo dated?
Is your current logo the best representation of your company? Are the fonts, colours or the overall design now outdated. If so, chances are that the consumer’s opinion of your brand will be that you are dated. Having an outdated logo discourages trust, it tells consumers that you are not prepared to adapt.
NatWest has launched a new logo based on a symbol from its original 1968 brand guidelines alongside a vibrant and “optimistic” graphic identity.
Have Your Updates Been Patchy and Things are Now Inconsistent?
A re-brand should be consistent. If you have made some changes to your website, the content that is being distributed or perhaps the designs of some products, but it is in any way ‘patchy’ you may need a complete over-haul. It is essential that your entire brand & all of your materials are consistent.
Does Your Branding Seem to Generic?
Are you finding it difficult to be heard through the noise? Perhaps you are offering something amazing & unique, but your customers are unaware. Perhaps your competitors are making more sales, despite having a sub-par product, simply down to them having a stronger, more relevant brand. When you are considering your re-brand, you need to look closely at your design, your content marketing strategy and your presence online.
Do you want to shake off an old image?
One of the most famous cases of this problem is Burberry. Across the UK Burberry was considered to be a symbol of status of thugs & gangs. This was a major issue for the brand. To combat this huge problem Burberry aggressively rebranded themselves as a high-end luxury clothing brand, focusing more of artistry & being at the forefront of the fashion industry, leveraging celebrities such as Harry Styles & Emma Watson, to drive towards a positive brand association.
‘When One Direction’s Harry Styles was pictured on the front row at Burberry’s London Fashion Week show this summer, the show received over 21, 000 mentions on social media. This was considerably higher than other brands; Topshop’s show earned 10,000 mentions whilst Vivienne Westwood received only 3,000 mentions.’
If, after asking yourself the above questions, you feel that your brand no longer reflects your companies values, it may be time to shake things up.
Follow us on Twitter: @Noiragency