How long have you been sticking to your current company brand? Along the business journey, how do you measure client’s awareness about your brand? How does your employer brand affect your hiring efforts? Have you ever thought of changing direction and rebranding?
Just like the initial foundation of a business, company rebranding is something that requires full-time dedication. Revamping a company brand goes beyond redesigning company logo and tagline, it requires careful planning and new sense of direction for your rebranding efforts.
No wonder, defining a brand involves great amount of planning, research, as well as trial and error along the way. A brand is something that will stick with your company, though not permanently for a long time. Therefore, the brand building exercise can span weeks, months, and sometimes years together as it requires long-term vision.
Some companies might think that they don’t have to implement rebranding, since they see nothing wrong with their current brand strategy. The question here is - when the current branding is working well with customers, why should you modify it and take the risk of losing current customers? This is a huge misconception.
Rebranding is not always about fixing something broken. Instead, it is a prior attempt to fix the invisible cracks that might tarnish your brand image in the longer run. There are number of reasons why business leaders should consider revamping their employer brand within a certain period of time.
Rebranding is a great solution when you want to modernise your old design. Such as for example, if you’re not satisfied with your current company logo or slogan because it is no longer able to reflect your organisational values and philosophies, you might want to fix and correct them through a rebranding exercise.
Rebranding is also a good strategy to bring the entire organisation to one unidirectional focus. For example, if you want to expand your business and open a new branch overseas. With new office, products, or services, you will need something fresh to breathe life into the old system, and this can be achieved through rebranding.
Nonetheless, despite all the benefits that one can reap from branding overhaul, there continues to remain some obscure fears and doubts that hold business leaders back from implementing positive change. It can be understood that humans don’t fancy change, especially the extreme ones. When a company finds security with their brand and practice, it becomes difficult to step out of their comfort zone and make experiments with something new.
One of the most popular rebranding fears among leaders is that their customers will no longer recognise the brand if the logo, name, or tagline is changed. If this happens, the repute and brand recognition earned through years of consistent service delivery will be lost in no time.
On the other hand, if you choose to do nothing and use the same brand for years you will bring your business to greater danger: lose ground within the fast-changing marketplace. When companies fail to stay abreast of the transformation, it is only a matter of time that customers will leave for more upgraded services and products.
Redesigning your company brand might make you feel like going through the new business journey all over again. Owing to which, people are often nervous and even afraid when the topic of rebranding is brought up into a discussion. However, sometimes it is necessary to take the leap, trust, hold faith and go for rebranding.
Rather than allowing baseless dreadful elements to hold you back from implementing change, just plunge in with careful planning and allow room for ground-breaking innovations to help soar your business to new heights of success. When planned and executed correctly, rebranding efforts promise great outcomes that will improve brand awareness, retain current customers, while attracting new ones altogether.
After all, rebranding is all about making changes to stay relevant and thrive better in the future.
