Rebranding is more like reestablishing or rebuilding your product or service by varying the aesthetic layer like logo, name, or slogan. Rebranding does not have any scheduled time plot. It just happens when the market demands. So, a few such scenarios where rebranding becomes an absolute necessity are detailed in the upcoming sections.
Scenario 1: When major companies combine into a merger
In this scenario, the new name of the company could plausibly be formed by combining the former names. The same applies to the logo as well. For instance, when the two popular airline players Continental Airlines and United Airlines merged their companies back in 2010, they decided to retain the name as United Airlines and the logo of the global Continental icon. After a few years, they decided to rebrand the name again to United.
Scenario 2: When a company is taken over by another company
When a company is acquired by another company, rebranding becomes an essential tool. This is done to announce to the world about the change. A few companies that went through rebranding after acquisition includes Siri after being brought by Apple and Procter & Gamble became Gillette.
Scenario 3: When there is a new CEO
Other than merging of companies and company acquisition, sometimes rebranding comes into play even when a company is taken over by a fresh mind and the fresh mind seeks to have a refreshing revamp. Let us take the example of “The Huffington Post”. The company initially got rebranded in 2011 as HUFFPOST and later again in 2017 when the company’s CEO Arianna Huffington resigned and Lydia Poll Green took over the helm. In this case, not only was there a minor rebrand to the logo or the name but a major revamp to the company’s website as well. So when there are fresh minds, fresh thoughts brew.
Scenario 4: When the product has forged a wrong image
A few times, the company might have taken a move with something in mind but might have ended up with something else. Now, the undesired results would create a wrong image that starts to send wrong signals to the customers about the product. In such cases, rebranding is vital for regaining the lost market. We could consider the example of Burberry. They had lowered their prices in the 90s to gain popularity. However, unexpectedly this move yielded an opposite outcome that was not desired. The low prices of the product made it accessible even to the cardinal man, making the high-class people feel the brand unworthy. This led to a steep decrease in the market. They took this hurdle as an opportunity and rebranded their brand, Changed the logo and scaled laterally high back.
Scenario 5: When the likes of the target audience change
Change is inevitable and is constant as is the likes of the customers. Their preferences and needs change over time and every brand needs to stay inline. For example, MTV – a popular TV brand among the 80s and 90s teens, got revamped as the 80s and 90s teens got prompted as adults. The target audience of MTV got shifted to the current generation teens and they had to strategize accordingly. They decided to rebrand their logo to showcase to the world that they are flexible with the current generation needs.
Scenario 6: When there is a deviation in the stated mission
A crystal clear mission statement is imperative for a company’s branding. However, sometimes there are instances when you will have to deviate from the mission stated initially as the product advances. An example of one such case is the Airbnb product, an alternative stay for vacations and experiences away from home. They started off as an app to help the budget travellers a spare couch to rest upon. As the people started to demand upscale places to put at, the company had to shift from offering extra couches to beachfront homes. This intern demanded a rebranding. They had revamped to get a new logo and an upbeat slogan to adapt to their new mission.
Scenario 7: When a brand becomes forgotten or outdated
Many times when a brand becomes obsolete, rebranding acts as a customer arresting move to capture the latest and updated demographic. The company needs to stay arrested in the customer’s mind and for which publicity plays a major role. One such example is Apple. The company has changed its logo tone now and then to stay put with the current moods. They retained their famous Apple logo and made moderation to the colour of the logo several times.
Now, if your company has gone through any of the above scenarios, then it is high time to get rebranded. A guide to rebranding involves the below 12-steps.
Step 1: Reanalyze your company’s mission and values. Check if it matches your current product and marketing trend.
Step 2: Reanalyze your demographic. What type of clientele do you or your brand target? Check if your brand appeals to your target demographics.
Step 3: Create focus groups with customers and hear out their opinions on your current brand.
Step 4: Research the market and check the relevance of your company branding. Check your competitors and their marketing strategies.
Step 5: Brainstorm ideas to rebrand your brand and stay relevant to your product.
Step 6: Rewrite your mission statement to fulfil the current scenario.
Step 7: Redesign your logo, decide patiently and have numerous options.
Step 8: Redesign all your marketing materials.
Step 9: The above step includes revamping all your product style guides.
Step 10: Redesign your website or your application’s User Interface.
Step 11: Inform your customers about the rebranding.
Step 12: Relaunch your brand again.
Now, revisit your product and sway the 12-step magic wand if you feel the need for rebranding.