What to Consider Before You Rebrand
It’s often said that a change is as good as a rest and in many instances, this is undoubtedly true. If you’re thinking about refreshing your brand or even going for a complete rebrand, it’s essential to take a step back, assess what you want to achieve and explore how revamping your business’s most treasured asset might benefit you.
Rebranding isn’t just about a shiny new logo—it’s about the direction and identity your company is going to take. Any significant change can have a lasting effect on productivity and future success. There are several reasons why you might consider rebranding, often linked to changes in your customer base. For example, if you run a fast-food outlet but have noticed a shift towards more health-conscious consumers or if you’re expanding your product range, you may need a fresh outlook to reflect this.
Rebrand – Pros
On the surface, rebranding can offer plenty of exciting benefits:
- Focus on Values and Mission: It can help refocus your company on its core values and mission statement.
- Attract New Customers: An organised rebranding campaign can raise awareness of your company and attract new customers.
- Product Launch Synergy: Rebranding can be timed with the release of new products, creating a cohesive and exciting package.
- Commitment to Innovation: It signals to existing customers that you are committed to keeping up with the times and providing them with the best possible experience.
Sounds like a great case for rebranding, right? Well, hold on. This is the perfect moment to pause, take a deep breath and consider the potential challenges.
Rebrand – Cons
Rebranding isn’t always a one-way ticket to success. Here are some of the pitfalls:
- Emotional Attachment: Your existing customers may have developed a strong attachment to your current brand. A rebrand could alienate them if it’s not handled carefully.
- Costs and Time: Rebranding can be expensive and time-consuming, particularly if you aim too high and fail to implement the changes effectively. If you’re unsure about how long it will take to see a return on your investment, you may need to rethink your approach.
- Unforeseen Challenges: Issues such as handling customer service policies, sales processes and internal adjustments need to be factored into the rebrand. For SMEs with limited budgets, it’s crucial to weigh up the costs versus the benefits.
Key Questions to Ask Before Rebranding
Before you dive into a rebrand, ask yourself:
- How old and well-established is your brand?
- Are you certain about where you want to take your ‘new’ brand?
- Do you have the budget to implement all the necessary changes?
- Will your team support you on this new journey?
While changing a logo or a domain name might seem straightforward, the deeper aspects of rebranding—such as altering company culture, reshaping internal processes and adjusting your approach to customer service—can be more complex. For SMEs with tight budgets, it’s vital to scrutinise the cost and weigh it against the potential benefits.
Beware of Resistance to Change
Change, even positive change, can create resistance. Some people, including your staff and customers, may be wary or even suspicious of a rebrand. There have been cases where businesses rebranded but continued with the same poor practices, leading customers to view the entire exercise with scepticism.
When Rebranding Works
If handled correctly, rebranding can offer substantial rewards. It’s essential to work through the process carefully and ensure that it aligns with your company’s goals. Be clear about the reasons for the rebrand and confident that it will benefit your business in the long run.
If, after careful consideration, you conclude that sticking with your current brand is the best decision, don’t be afraid to stay the course. A rebrand is a significant step and should never be taken lightly.
If you’d like some inspiration, check out these successful rebrands courtesy of Pony. On the flip side, here are some rebrands that went wrong, courtesy of Expert Market. Even the biggest brands get it wrong sometimes!
This article isn’t intended to put you off rebranding but to encourage you to think carefully before embarking on the process. If you’d like to discuss a rebrand in more detail, give us a call on 01604 654545 or email us at hello@thelasthurdle.co.uk. Our marketing team would be happy to chat with you about your options.
