To rebrand or not to rebrand? This is a question on the lips of many marketers and business owners. To improve brand value, many companies are strategically rebranding to appeal to a new generation of consumers and rise above the competition.
Here are our thoughts on the benefits and challenges of a rebrand to help you weigh up the value of brand development activity for your business.
Benefits of a rebrand:
- Fresh new look – a revamp of an existing brand through minimal changes can modernise and freshen a dated and old-fashioned brand
- Incorporate other brands or companies – for companies that are looking to merge existing companies under one brand identity, a rebrand can successfully achieve this without confusion
- Communicate that your business is open to change – a rebrand can show a dynamic and evolving attitude
- Create the impression of improvements throughout the business – a rebrand can demonstrate a proactive approach to internal and external improvements
- Appeal to a new audience – a rebrand may appeal to a new market, demographic or generation, which can be imperative to the growth of a company
- Recognition – with a well thought out campaign to introduce the new brand across your digital channels, rebranding can actually increase brand recognition
Drawbacks of a rebrand:
- Rebrand cost – have you got the budget to change your brand identity across all marketing activities
- Confusion – a rebrand may confuse customers and even employees
- Loyalty – rebrands are not always well received by longstanding customers
- Takeover – a rebrand may create the impression the company has been taken over, which could have a negative effect
- Resources – have you got the time and resources to roll out a rebrand
We work with some of the UK’s largest brands, working within stringent style guides and developing new brands for the future. Get in touch to see how Clockwise can help your brand 01737 221 221.