May 28, 2022
Timothy Tanksley

The Powerful Benefits of Rebranding

Introduction

How do brands stay relevant in a world where trends are always changing? Rebranding is an option that is often overlooked, but can have powerful effects when done right. Old Spice, McDonalds, The Spaghetti Factory are just a few examples of companies that have maintained relevancy through the power of rebranding, but what exactly is rebranding? What sort of effects can it have for your business? Today, I will discuss why rebranding is a vital exercise for every company, when it might be the right time for your company to rebrand, and what the real benefits are. But first...

What is Rebranding?

When prompted, most people can think of a popular rebrand that they have observed, been affected by, or have been a part of. Despite this, rebranding is a commonly misunderstood concept. Sure, logo changes and company color changes can be part of this process, but much more is involved. Completing a successful rebrand redefines who your organization is. It's your perception and identity. It's key messaging. It's the foundation of your company and how you communicate with your audience. Strategy is a vital part of every rebranding process, and every company must consider how decisions made during a rebrand will change their perception. To do this, one has to exercise empathy, and truly step into the minds of consumers. Before taking on a project like this, however, it is important to consider...

Does Your Business Need a Rebrand?

What constitutes a change in identity? Before embarking on any rebranding exercise, it is important to ask yourself these questions.

  • Has your target audience changed?
  • Does your company's image no longer accurately reflect it's services?
  • Does your brand help you stand out from your competitors?
  • Does your branding fit in with the modern world? Or does it look out of date?

If you answered yes to any of these questions, it might be time for a rebrand. Let's discuss what a rebrand can do for your business.

Benefits of Rebranding

Reaching New Audiences - By far, the biggest advantage of rebranding is the ability to reach new customers. When you are able to properly promote new aspects of your business through rebranding, customers will take notice. Does your business need stimulation, or would you like to expand your already thriving business? Either way, rebranding can solve both problems.

Staying Current - The main goal of rebranding is to help your business stay ahead of the curve. Like it or not, design trends play a major role in how customers view your business. Ensuring that your identity is up to date is a surefire way to show that your business is evolving.

Staying Competitive - For many businesses, competing with the top brands in your industry is vital to success. Rebranding can be the most effective way to set your company's approach and offers apart from your peers. Differentiating your brand shows your customers that your business is unique, while also portraying expertise. Changing your company's voice, look, and feel will help establish your business as an industry leader with a personality that appeals to your audience.

Reflect New Services, Values, and Goals - It's hard to showcase how much your company has evolved with an out-of-date brand. If your business has added new services, products, or goals, it's vital to convey that to your customer. Rebranding is an effective way get these changes across to your customer base.

The Bottom Line

For most businesses, the bottom line is the top priority. Above, I detailed many ways that rebranding can change the perception of your company, but how does that translate into monetary value? When business undergo effective rebranding campaigns, they are able to reach previously untouched audiences, strengthen their connection with their current customer base, and establish themselves as innovators. For these reasons, rebranding has the power to completely change the trajectory of a business. Would you like to see these benefits? Use the contact form below to set up a pressure-free strategy meeting to discuss how WOTA Technology can take your business to new heights.

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