How to Rebrand Your Company: 3 Types of Rebranding

Rebranding is the process of changing a corporation’s public image or identity, typically known as the brand. When a company rebrands, it often undergoes a large, complex operation involving various elements of the business, including the logo, brand name, and marketing and advertising strategies. A rebrand might also include a change to the products sold or manufactured by the company.

There are several reasons for a company to consider a rebrand. Below are some of the best motivations for a rebranding operation:

1. 1. New products: When a brand changes the product offerings or the pricing of these products, it might rebrand. In this case, it will be necessary to inform both the old and potential new customers of these new products. If the change is big enough, the best way to announce the change to existing customers and potential new ones is through a rebranding process.
2. 2. A new philosophy: Often, a brand will decide that its old way of doing business or its brand values should change. A rebrand can be one way to broadcast this new philosophy to the world, bringing the new brand story to public awareness.
3. 3. An expanded audience: Sometimes a company wants to reach a more extensive customer base or a new demographic. If the new target market is younger, for example, it will likely take a rebranding effort to gain the business of the desired audience.
4. 4. Mergers and acquisitions: When two companies merge into one, such as a more prominent brand absorbing a smaller startup, there is often a rebranding process as a result. The new, combined brand will need to inform the public of how the merger has affected their business.
5. 5. Image repair: Sometimes, a company will rebrand itself after its current brand identity and reputation have been damaged. Changing the visuals associated with the brand might avoid negative associations attached to the existing brand.

There are many different types of rebranding, from a simple company logo change to an entire overhaul of the company’s mission, brand image, and advertising strategy. Some of the most common kinds of rebranding are as follows:

1. 1. Brand refresh: If you’re changing relatively minor aspects of your brand—by adopting a modernized font, altering your logo design, and selecting a new tagline, for instance—you’re performing a brand refresh. Even a refresh can have significant effects, especially for a highly visible brand.
2. 2. Partial rebranding: This is when some aspects of your brand change while others remain the same. A redesigned logo or typeface makeover could be classified as a partial rebranding, as other materials may stay the same as they were before the rebrand.
3. 3. Brand overhaul: A complete rebranding will involve every aspect of the brand: a new logo, a new color palette, a new brand strategy, new visual elements, new marketing materials, and, in some cases, a new name. This is the most significant kind of rebranding in terms of investment and often in terms of overall risk and reward.

If you consider rebranding your business, it’s essential to have a strategy. Below are some steps to take as you get the process moving, all the way through a successful rebranding effort:

1. 1. Work on a vision. There should be a good reason for your company to rebrand. When you’re sure you want to rebrand, gather your thoughts and get a clear idea of what you want to do. Consider how your rebranding effort will work to further your company’s long-term goals, what you hope to accomplish, and so forth.
2. 2. Do your research. Extensive research can help you understand your target market. Base your research on your current brand position and the direction of your business in a new market. What has been the most successful aspect of your current company? What does your target audience like about your product or service, and what do they dislike? Just as importantly, what is the competition doing right, and what are they doing wrong? Answering these questions is essential to a successful rebranding.
3. 3. Build your team. You might consider in-house specialists and subcontractors for the rebranding process. These are the people who will be revising or redesigning your brand’s visual identity, from the new logo to the potential new company name. While having people who know the company best has its advantages, some professionals specialize in rebranding, and sometimes their expertise is very effective.
4. 4. Test the rebranding strategy. Testing can be expensive and time-consuming, but it can also provide you with invaluable insight about your current brand positioning and what might or might not work about the details of the rebranding strategy. You’ll want to learn as much as you can about your current brand recognition and the appeal of a potential new brand logo.
5. 5. Launch the rebrand. The budget and type of rebrand will dictate the launch process. Comprehensive rebranding efforts will require a more significant commitment in the launch, while a smaller business or logo redesign may benefit from a simple announcement.

Rebranding can have several benefits for a company. Below are some of the most common and lasting advantages of a rebrand:

1. 1. Rejuvenation: A successful rebranding effort can make a company feel new, improving sales and market position. It can also have a beneficial effect internally—employees might feel as though they are working somewhere fresh with new ideas and aesthetics, which can improve morale.
2. 2. Distinction: A rebrand can make your company stand out from the competition. Something as simple as a redesigned logo can lead to clear differentiation with other competitors on the shelves, garnering a new audience and improved market share.
3. 3. A fresh start: With a rebranding effort, you have the opportunity to change the overall public impression of your brand. While it can be challenging to pull off a new brand identity, if successful, it can be the difference between success and failure in a competitive marketplace.

While rebranding offers many potential benefits, it is a risk. Consider the following drawbacks:

1. 1. Confusion: One of the biggest potential problems with rebranding is confusion in your audience. People might be unsure about what has changed about your brand. A new logo or a renaming might lead them to think that your company is new rather than a rebranded company with a name change.
2. 2. Backlash: When a brand rebrands to rehabilitate the public image, it can have the effect of backfiring. If enough people see the effort as in any way dishonest, it can cost company customers and market share.
3. 3. Rejection: Even with extensive research, expert marketing strategy, and a great launch, there is no guarantee that the public will appreciate your rebranding. Sometimes, customers prefer how it used to be, and you might have to revert to the old brand image.
4. 4. Lost investment: A rebrand is a significant effort in time, money, and energy, even if it’s only partial or relatively modest. If it doesn’t achieve the desired results, you can lose time and money.

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