Rebranding or Brand Refreshing Your Business In 2018

Rebranding or Brand Refreshing Your Business In 2018

Every New Year brings new possibilities and opportunities. This is especially true for brands that want to better communicate with their audience and effectively reach their target market.

Technology is ever changing, which strongly affects consumers. This leads to design and campaign changes – thus, ultimately changing brands that consumers know and love. 

Within the last ten years or so, many brands have been updating the look and the feel of their brand.

This past year alone, big brands such as Calvin Klein, Kickstarter, Audi, NASCAR, Formula One, Activia, Chobani, ALDI, Coke, and many others have rebranded or refreshed their brand.

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Looking for a full list of big brands that rebranded in 2017? Here’s the list from LogoInspirations

So, why should your brand consider rebranding or refreshing it’s image? Here are just a few reasons:

→ Innovation equals profit.

If your business is innovative, the more money it can make.

By innovation, we mean how fresh and different your brand looks. If your brand is behind on the times, or doesn’t have a cohesive and consistent feel, your business could potentially lose the attention of your consumers. Your brand could also lose its credibility, and can look unprofessional. Consumers notice more than you’d think.

Your brand’s look matters – it’s the face of your business. Take the time (and the investment) to get your branding right. Yes, your company’s branding will need to be refreshed or rebranded multiple times throughout it’s lifetime, but if it is done right, your company will acquire some noticeable profits. Not to mention, you’ll build more brand loyalty. Even little things can really make your brand stand out. Interbrand did a study on a few of their clients, and the ROI of their branding efforts gave their clients noticeable profits among their target markets.

The impact? The first year post-launch saw a 10 percent increase in brand consideration among the target audience, revenue per room increased 12 percent, and the hotel owner’s share price rose by 26 percent.
— Interbrand

→ The fresher, the better.

The fresher your brand looks and feels, the more your target market will notice.

This is especially true if your brand’s consumers are Millennials, or if you want to gain an additional target market. If you want your brand to have a long and healthy lifetime, it is basically inevitable to go without a brand refresh or total rebranding of your company, at some point.

Remember, upgrading your brand not only means changing the “style” of your brand, but also the look and meaning. For example, Fast Company did a study of Millennials vs. Boomers and how they associate with brands. This gives us a good idea how some brands are doing within their target markets.

Thanks to digital devices making us so impatient, it is crucial to get your consumers’ attention within seconds. It’s not that every brand should take the current trends to heart, but keeping them in mind will allow you to know your target market better. Coke displayed a great example of this point in their latest Diet Coke Brand Restage.

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→ First impressions matter.

An updated look can set your brand apart from the competition.

A lot of brands are using this as the reason why they are spending so much more on marketing and on their brand (especially if they are selling products in the retail industry).

  • How does your brand stand out in your industry?
  • How do your products top your competitor’s products?
  • How do your marketing efforts match your audience?

Allowing your brand to display a fresh perspective will let your target market know that you are there and you notice what they want and what they like. Not only are you listening to your audience, you are engaging with them – which both are vital in successful digital marketing. Chobani showed a great example of this with their New Product Logo Rebranding.

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→ Better branding means a better team.

An attractive looking brand can attract some awesome talent.

If your brand is lacking some appeal towards your target market (or just lacking appeal in general), you may not find the right candidates for some of your opening positions within your company. Most talent acquisition employees and those who are currently seeking jobs are really taking notice of “employer brands.”

Your brand not only needs to look up to date, but it also has to feel up to date. We mean that your brand has to have an appealing tone and a noticeable reputation. The more attractive your brand is, the more candidates you can obtain to fill those missing holes within your company. To gain a more reputable brand, rebranding or updating your brand’s look is normally a good start.

Consistency is also another way for your brand to become more reputable – meaning if you have a friendly, employee conscious tone within your brand’s social media then you should probably carry out that tone to other parts of your brand.

→ One mission, one look.

If your business just merged or acquired another business, it’s ideal to have one cohesive brand image.

Most brands acquire or merge brands, and that’s a pretty common thing to see, but what isn’t common is one business with two faces. By that we mean having two of everything for one brand – two logos, two feels, two tones, two missions, etc.

Rebranding is probably your best bet if your brand just acquired or merged with another brand. Your target market will notice that your internal branding has a new perspective and that the outlook on their favorite company has changed, too. It also cleans the slate on what consumers think of either brand. This means if your acquired business had a bad reputation, consumers may not feel the same way now. Your acquired brand has a different appeal, and consumers may take a second chance on the merged brand.

Still have the same (or relatively similar) mission statement before you acquired or merged brands? It’s still a good idea to rebrand your company to lessen “brand confusion” for consumers. Brand confusion happens a lot when your internal brand or company conflicts with it’s own look and appeal – consistency is key, folks.

→ Be creative, innovative, and engaging.

It can make your overall brand more relevant.

At the end of the day, rebranding and brand refreshes are to keep your brand relevant. If your target market likes bright, fun colors then you should apply that in some way and pay attention to your audience’s feedback.

When it comes to rebranding or refreshing, you have to start somewhere. The first thing you could do is change your color palette, even if it’s just a little bit – maybe adjusting towards different hues.

Although a color palette change isn’t a full rebrand, or even a refresh for that matter, it’s a way to get your creativity flowing. After, it’s ideal to implement other design elements or images into your brand look – this really allows you to dive into what a refresh means for brands.

A total rebrand or refresh includes your whole brand, its image, and your presentation. If your brand needs an update, then you should change your consumers’ perspective when they interact with your brand.

Don’t get ahead of yourself and change your deep blue logo to a florescent yellow logo.

Just pay attention to your audience and possibly start incorporating new design elements into some of your branding (i.e. social media posts), then see what happens.

Focus on your brand, try testing new trends with your audiences, and grow from there.

If you see a positive reaction, (versus what you normally see) it may be time for a rebrand or refresh. A brighter color palette or a new sleek, fresher looking logo may be a start to a brand upgrade.

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Things to avoid when rebranding or brand refreshing:

Now that you know why you should rebrand or refresh your brand look, here are a few things to avoid when going through a rebrand or brand refresh:

 → Releasing a rebrand without sharing it to your employees or shareholders first.

Share your ideas and concepts from the inside first. Employees and shareholders of your brand are there because of your brand – their ideas matter, and you should want their input too.

 → Being quick about rebranding.

Don’t be hasty about rebranding or brand refreshing. If your brand just had a rebrand, it’s probably a good idea to let it ride its course for a while. Don’t try to do back to back rebrands or refreshes – you would be risking brand confusion with your consumers.

 → Obsessing about finances.

Rebranding is called rebranding for a reason – it takes an army and a good amount of time and money to come up with the right branding and the right ideas. The amount of money that businesses are spending on marketing has taken a huge leap.

According to Forbes, in February of 2009, 0.5% of a company’s revenue was spent on marketing. In August 2013, 4.3% of revenue, for most companies, was spent – this is a massive jump! Some companies are even spending 10% or up to a whopping 35% more on marketing this upcoming year. If you are penny pinching along the way, then your brand may be at risk for a rebranding fail.

Chobani plans to spend 35 percent more on marketing next year, with the bulk of spending occurring in the first half of the year, said Chobani’s Chief Marketing and Commercial Officer, Peter McGuinness.
— CNBC

 → It’s only about the graphics or images of the brand.

Copy is just as important as the look of your brand. If you can’t express your brand’s tone or messaging in words then you are behind on your rebrand and it has the potential to become a rebranding failure.

Final Thoughts: 

In a nutshell, rebranding or refreshing your brand is pretty straightforward. Think of rebranding or brand refreshing like this: It all comes down to knowing what is right for your brand right now.

If one or more of the points above gives you a reason to rebrand or refresh your company, it might be time to think about collecting some of your brand assets and contacting an agency for their expertise. If none of the points above give you a reason to rebrand, that’s okay, because not every brand needs a rebrand or refresh right away. Why your brand decides to rebrand or refresh is up to you and your company.

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ABOUT THE AUTHOR

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Amanda received her bachelor’s degree in Graphic Design and Digital Media with a Concentration in Print design from Johnson & Wales University in Providence, RI. Her career background ranges from user interface design to print design to branding. Amanda has a passion for illustration, cannot live without hass avocados, and loves anything and everything about cats.

You can connect with Amanda here: Twitter | Instagram

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