Rebranding is one of the most difficult ventures a company can go through. Sometimes it’s hard to understand when how to execute it or even when it’s necessary. Derrick Daye asked the Branding Strategy Insider team to share their insights.
Rebrands Offer Opportunity | In many cases, the focus of a rebrand is strictly external; businesses are looking to make a bigger impact among customers, prospects, and partners. However, rebranding provides significant internal opportunities. It generates excitement and interest among employees and allows a company to reevaluate its own culture and processes. For a change to be truly effective, it needs to go beyond the surface and start from within.
Rebranding is Not Repositioning | Repositioning usually means the same product and services with a slight upgrade such as a new logo or packaging. Rebranding, on the other hand, is offering new solutions that don’t fit your past identity. It usually becomes necessary when a company’s products and services are approaching a territory that no longer resonates with its current message.
Rebrands are Radical | A true rebrand marks the end of that brand as it was, so it should only be done when you’re ready to disassociate your company from its previous reputation. A successful relaunch needs to be “all-in.” You’ll also need to be able to explain to your audience why you’ve changed, what you are now, and what it means for your customers.
Parallel Interactive implemented a comprehensive brand refresh this year. Contact us to learn how we can do the same for your company.