A rebrand is when a company changes its position in the marketplace. In simple terms, a business wants to talk to different and new people and they made some very big changes to their business to be able to do this.  Some people and even professionals will talk about rebranding as a change to the way things look, but that’s not a full view of what a rebrand can really entail. When a company rebrands, they’re changing something in the structure of the business such as the desired ideal audience, the things the business offers, or how they serve their customers. here are some common reasons companies need to rebrand

A major pivot/change

Whether it’s by choice or out of necessity a major change to the business’s offers, service model, or core mission can definitely be grounds for a rebrand. These are major rebrands with the internal structures being changed including the name and messaging of the business. They often can take months to create properly as they involve a lot of research and development in all of the areas of the business. This research lets the business pull out the parts of that work while refashioning the parts that don’t work well. They’re worth it because pivoting and keeping your reputation in your control is a lot better than the next reason to rebrand.

A bad reputation

This is one of the big ones and is especially important for legacy businesses. Whether it’s because of lawsuits, poor service, not fulfilling its sales promises, or another reason, sometimes a business ends up with a bad reputation. Once customers paint a business with the “bad reputation” brush it can be really hard to fix. It’s, unfortunately, easier than ever nowadays to get stained as a business with a bad reputation without really doing anything awful.  If you catch it fast enough, a bad reputation is fixable, but very hard to do because it often includes regaining the trust and loyalty of customers. Sometimes a full rebrand, including a new name, is in order because it is better for both the business’s reputation and expenses, to separate the business from the bad reputation completely.

New leadership/owners

New leadership or owners does not always mean a rebrand. The times it does is when the new owners need to separate themselves from the business’s past reputation, which usually is the case if they inherited a bad reputation or a lot of financial issues. It’s also something they will do if they are planning on making major changes to the business or dissolving it and merging it with their existing business.

Blends into the Industry too much

The last major reason, is they blend into the industry too much. This is usually the step before a major pivot so it can be argued that this reason belongs in that category. I separate them though because it’s a much smaller, but no less significant reason to rebrand. This type of rebrand leaves almost the whole business structure intact except for how the business talks about itself and its products. It may also include refreshed colors or images too.

All of these reasons are a great reason to rebrand and give a business the fresh start it deserves! That’s all I got this week! Talk to you soon!