Is 2023 the year for your company to rebrand?

2 Feb

From Volvo to Instagram to Guinness – rebranding is a common occurrence. Whether a global corporation or a local SME, your branding will inevitably evolve.

Before we talk about why, how and when to rebrand, let’s just clarify what “branding” actually is.

What is a brand?

A brand is the idea that people have in their minds when they think about a company. This is triggered by the logo, the company name, the advertising, and the product/service. Apple is considered the best-known brand in the world. The brand message is innovation, creativity, simplicity, and design. The Apple brand is synonymised with “being the best” and as such people are prepared to pay a premium to be seen with, and associated with Apple.

Your brand is what makes you different from your competitors. The way you are represented. Your brand reflects the why, who, how and what of your business.

What is a logo?

A logo is a graphic symbol that identifies a company. This may be formed of a mix of font, colours, symbols, and pictures. It becomes easily recognisable as a visual representation of a company. A logo forms part of the brand.

A well-designed logo is vital for branding purposes as it allows people to quickly identify and recall your brand. It needs to reflect your ethos, approach and USP. The logo tends to be what is used for consistency regardless of use or platform: the purpose and messages may alter, but the logo remains the same. The Apple logo is globally recognised. When we see it, our emotional reaction tells us that it is something to be desired and that the product will be innovative and the best.

The logo would just be a graphic without the brand to give it true meaning. The branding would lack visual recognition without the logo. What you need is a professionally designed logo to reflect and support your branding strategy.

Now we have cleared that up – why and how to rebrand?

Why re-brand?

There are many reasons why a rebrand may be needed. It could be that your company has grown into new markets, products or services. It could be that there have been changes in your market, your competition or technology. It may be to reflect a change in attitude or perception – to “modernise”. It may be that your company strategy has changed, perhaps for one of the reasons already mentioned, which means a change in values, mission or goals.

A rebrand needn’t be a total change. For example, Apple has changed the colour of the logo from rainbow to black to white to grey to the current chrome. It may be a new strapline – such as the John Lewis rebrand. Or it could be a new company name, logo, key messaging and complete overhaul., such as Matchbox to Tinder.

You need to be clear on your rationale for the change and do your research. Don’t change what doesn’t need to change, but change enough to make a difference.

More than a logo

As explained, a brand is more than a logo. If you opt for a rebrand it needs to be reflected in your website, your advertising and your visual impact.

Whilst your logo is your front line, each touchpoint with the market needs to reflect the rebranded message that you want to convey.

A re-brand needs a new logo – but it needs more. If not, what’s the point? If your Mission has changed, your Values have been tweaked, or your market expanded, your rebrand needs to reflect and support those changes.

How to retain loyal customers whilst attracting new markets

A branding expert will make sure that you retain your existing loyal market, whilst increasing your appeal in a new market to encourage growth. This can mean retaining elements of the original brand, whilst introducing fresh concepts.

There is little point in change if it is not going to be invested in and followed up. Once you understand why you want to re-brand, and what you want to achieve, you need to incorporate those changes into your strategy. Key words here are adapt, adjust and amend. Introduce the new brand gently, but firmly, to retain your existing market whilst expanding into new markets.

Beware trends!

A bit like grey paint, trends come and go. We live in a very fickle, ever-changing fast-paced world. You want your brand to stand the test of time. Make sure that your re-brand will add value, and make sense. Rebranding too frequently will confuse the marketplace and increase the risk of losing loyal customers.

Have a relevant and honest brand

The company name, logo, and strategy all need to marry together. BP had a disastrous rebrand when a new logo tried to say they were “green” and environmentally friendly. It opened the company to ridicule and the logo became infamous for being used to illustrate how much damage they were doing to the planet. Your branding, including your logo, needs to stay relevant and honest.

All in the name

Some companies change their name as part of a re-brand. This potentially loses any SEO, and brand equity associated with the original name so should be done only after considerable research. And never dump your website and start with a new Domain regardless of the name change!

Marathon became Snickers to facilitate alignment with the global market. Whilst many people in the UK still mourn, and moan, about the renaming, everyone understood why it happened. Some 30 years later, Snickers is going strong and is regularly named the top chocolate bar in both the USA and the UK.

On the flip side, Coco Pops became Choco Krispies. Sales plummeted, and the British public rioted – well, they complained. The name was returned, and remains, Coco Pops.

Names need to be clear to read, say, and spell. Ideally, they need to reflect your business, and your approach and pique interest.

It may be that you regret your original company name but you now have the trademark, SEO, and reputation which means changing it can come with risks. Kentucky Fried Chicken was successfully renamed to KFC as part of a rebrand, illustrating there are ways to maintain what value you have in a name but move forward as part of a rebrand.