The What, Why, and How of a Successful Rebranding Strategy
Rebranding is a normal part of doing business. Major brands from Netflix to Airbnb to Dunkin’ Donuts (now simply Dunkin’) have successfully rebranded in the past. 2020 was a year that had a profound impact on rebranding strategies – and on business trends in general. Market shifts caused by the pandemic, combined with the rising tide of social movements has forced more brands to pivot their business model than ever before.
What is Rebranding
A reinvention of your brand doesn’t always mean starting over from zero. This marketing strategy involves changing up some or all elements of your already-established corporate “image” or identity, such as your:
- Name
- Logo
- Symbol
- Design
- Concept
Whether your revamp is partial or total, a proper rebranding strategy goes deeper than mere visual elements. It should lay a foundation for your company’s mission, vision, values – and for how you want your brand to be understood.
Why Companies Rebrand
When an established company changes some of all of their brand elements, it’s usually in hopes of positioning themselves in a new way in the minds of their consumers. It may be an effort to heighten your digital presence, shed negative connotations, modernize, or even future-proof your brand. Some common motivations behind rebranding include:
- New locations or entering a new market
- Change in philosophy
- Market repositioning
- Mergers and acquisitions
As we mentioned, rebranding is on the rise, thanks to market and cultural paradigm shifts. Here’s a smattering of recent rebranding stories:
- McDonald’s is rolling out new, more playful package designs, while at the same time promising to create more sustainable packaging
- Dunkin’ wants to focus more on coffee than donuts, hence dropping “donuts” from the official name
- Aunt Jemima became Pearl Milling Company, the Quaker Oats company explained, because the original name (and label) were based on racial stereotypes
- For similar reasons, Uncle Ben’s rice became Ben’s Original and removed the outdated logo of an elderly, bowtie-wearing African-American man
- Under longtime pressure from frustrated fans, Native Americans, and other activists, the Washington Redskins finally agreed to drop the old name and logo – they are simply using “Washington Football Team” for the time being
Guidelines for a Great Rebranding Strategy
Rebranding can stoke excitement and boost people’s perceptions of your brand. It can also cause backlash and confusion. People laughed at the new logos for Google Workspace (a re-imagination of GSuite) saying they all looked the same…and they kinda do, if you ask us.
When Uber changed its logo a few years back, users of the popular ride-hailing app were confused. 44% of those polled said they had no idea what Uber’s new logo was meant to represent.
If you’re thinking of rebranding your business, consider the following guidelines:
Do it For the Right Reasons
Don’t lose sight of why you’re undergoing an identity shift. There are plenty of reasons not to undergo a rebrand – don’t do it because everyone else is doing it, or because you’re bored, looking for attention, or following the whim of the CEO
Focus on Your Audience
If you want your re-envisioned brand identity to resonate with customers, you need to put them at the forefront of your rebranding strategy. What tastes, preferences, and values does your audience have? What inspires or excites them? How do they perceive your current brand? How do you want them to perceive your brand? Some thorough market research can help you explore these questions.
Don’t Ignore Cultural Considerations
Consider the current cultural climate and also the direction things are going. If you’re moving into new markets in other regions or countries, look for the differences in perceptions, customs and opinions that might affect how people view your brand.
Are you ready to rebrand? Whether you decide to redesign your logo, update your website, refresh your overarching message or overhaul your entire brand, careful consideration and some investigation will go a long way in helping you get it right.
Contact us to discuss your brand research needs today!
