Reasons for rebranding
Feel like freshening up your business image? Perhaps you are no longer inspired by your logo, or you feel your current logo no longer represents your values? Maybe you are expanding and want to attract a new audience?
The good news: the need to transform an image is not a bad sign. Most successful companies do, from start-ups to Fortune 500 companies. Often, changing a name or logo simply shows that the company has grown beyond its initial image and is now preparing to conquer new heights. Rebranding provides an exciting chance to solidify your presence and image in the eyes of your customers.
When is rebranding a good idea?
Target demographics have changed
As it grows, your company might try to target a wider audience, and branding should reflect this. A common example is an established company that changed its name to attract the attention of many people. One company that did this very successfully is Adidas. In recent years, the sports retailer has significantly increased its market share – from competitors like Nike and Under Armor – to capture a growing segment of athletes worshiped in the new millennium. The key to success? Focusing on digital marketing and use of influencers. For help from a Brand Strategy Agency, visit https://www.reallyhelpfulmarketing.co.uk/marketing-and-strategic-development-services/brand-strategy-agency/
Competition, technological advances or new trends have emerged
If your business has been disrupted, rebranding might be the best option to fight the competition and re-establish as a leading firm in your sector. It might be that change hasn’t been brought on by technology as new trends in consumer taste can affect your industry, such as preferences for organic and locally sourced produce in the food industry, for example.