Top 5 Reasons For Rebranding To Grow Your BusinessPosted by Frederiksen Guldager on February 14th, 2021 
Rebranding is a marketing strategy that includes changing a company's corporate image or organization by developing a new name, logo, symbol, and relevant visual assets like marketing materials. The purpose of rebranding is to create a unique and differentiated brand identity in the minds of consumers, prospects, investors, employees, competitors, and the general public.
When you're first starting a business, branding is likely the last thing on your mind. After all, it's hard to sit down and flip through fonts when you're still trying to figure out who your customers are (and where to find them).
Plus, even if you made creating a brand identity a priority, in the beginning, a change in business plans might have made your initial branding strategy obsolete.
In this article, we will discuss the major reasons you might consider a rebrand, including:
1. Leadership Changes Hands. Brands are usually linked to a company’s leader, especially in privately-held organizations when the brand carries on a founder’s personality. When the company replaces hands, from one generation to another or to an outside owner, a new identity is a way to show the transition. The change is usually about more than the brand; it affects a shift in other parts of the company, and branding can help implement it.
2. Mergers And Acquisitions. When a business merges, what happens to the legacy brands? An acquisition signifies the time to assess any overlaps in product set, audiences, or geography. It’s also essential to revisit key messages and brand focus. Mergers can warrant the need to create a wholly new brand, or merely a “touch up” to the visual identity and message.
3. When A Brand Needs A Makeover. It’s challenging to stay fresh and contemporary. Even the world's biggest companies have developed their brand identity to keep up with the changes in their respective markets. Without repositioning and rebranding, competitors would infringe on their market share. Target is an exceptional example of a brand that moved up in its marketplace through a strategic and calculated approach to its branding. Rejuvenating the essential elements — such as typeface, colors, or logo treatment — can honor your past and adopt the future.
4. Your Customer Evolves. As customer behavior evolves, so should your brand. With so many options available for your audience, your company must stay connected and noticed. Today’s speed of business results in changes to the things that are essential to a target audience (e.g., pricing, technology, convenience). A proactive, new brand is more potent than fighting for client maintenance or reacquiring your audience after they switch.
5. Repositioning Your Brand. As a business grows, its brand changes and stands for something different from what it did initially. Brands develop to reach new audiences; the challenge is to introduce a position that connects with them. As a company grows, the initial status can become a liability and hold a company back from attaining its full potential.
Whether your company needs a facelift or a completely new brand identity to reflect its development, rebranding effectively molds the right perception. There’s value in the process as well as in the result. Take rebranding as a great opportunity to reaffirm and strengthen your company’s values and identity, both internally with your employee base and externally with your clients.
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