Why Rebranding Might Be The Best Decision, You Make?
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Rebranding your business is exciting and fulfilling since it gives you a fresh perspective and helps you remember why you started your company. However, sacrificing time from an already packed schedule may be a barrier.
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Taking a "wait and see" stance might sometimes be a bad decision with significant issues. Reduced traffic and leads need prompt action. Or else a simple issue might snowball into a huge crisis.
Dull visual branding, an out-of-date logo, and inconsistent graphic design are all strong indicators that it's time to redesign your company. Clients can be confused about who you are and what your business stands for if your customers see your organization's outdated website and digital presence.
Below, we discuss not just the obvious signs that it could be time for a rebrand but also some of the less obvious signs that might be time for a rebrand. However, before we get into that, it would be helpful to define rebranding.
What is Rebranding?
Source: OpenAi Coca-Cola design remade
Why did New Coke fail in the market?
"New Coke didn't only fail because it tasted too sweet — it failed because the marketing campaigns, business structures, and company culture at Coke doomed it from the beginning."
Rebranding involves changing a company's name, logo, and other identifiers to reflect an updated image. It may also include changing the company's focus, name, or product line.
After some time of operation, a company may find that its original branding does not accurately represent the organization as it is now, urging a rebranding campaign.
A rebrand is useful for businesses looking to enter a new market or widen their consumer base.
Creating a new logo, revamping the company website, and creating a social media strategy that fits in with the new brand identity are all tasks that professional creative companies can assist with for businesses looking to rebrand.
Source: Wix Gif Search
Should You Rebrand Your Company?
You can tell whether your company needs a rebrand by answering these three questions.
Why are you considering rebranding your company?
In what ways do you plan to change things?
Have any corporate changes affected your rebranding?
The answers to these questions will help you decide whether or not a brand overhaul is necessary for your business.
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Why Rebranding a Business Is the Insanity, You May Need
Reach Out to a Wider Audience
The capacity to attract a new audience is the primary benefit of redesigning your brand. People take note when you highlight and advertise unique aspects of your company.
In a dynamic marketplace, a rebranding effort might provide the catalyst your company needs to break through and expand.
In the Matrix, there is a scene where a woman in a red dress walks past Neo in a crowded lobby. This woman is later revealed to be a software program designed to distract and manipulate Neo. Catch your audiences attention and direct them.
Stand out from competitors.
As you build your firm, your talents may rival your competitors. Rebranding may differentiate your company's products and services.
Differentiating your brand convinces prospective customers that you're the expert. Rebranding your company can position it as a market leader with an appealing personality.
Stay up to date.
Rebranding keeps your brand up-to-date. Design trends affect how consumers see your firm and its services. Always having a trendy look shows clients you follow industry trends.
New goals, products, offers, and values
When your brand doesn't mirror your company's growth, it isn't easy to demonstrate that growth. If you've added new goods, services, or ambitions, rebranding shows that your firm is growing.
Increase profits
The rebranding will boost your inbound strategy and profitability. By rebranding, you may attract new prospective customers, stand out from your competition, showcase your expertise, and grow the impact and reach of your goods and services.
Source: https://pics.me.me/
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Some Important Branding Statistics That You May Find Important
Brand authenticity graphics
Brands need to be authentic to connect with their consumers. Authenticity is a critical consideration for 88% of customers when choosing businesses to support.
Consumers demand brand authenticity. Consumers want the firms they purchase from to be legitimate in their presentation and business practices. Millennials have been pushing brand authenticity as a relatively new notion.
This includes Gen Z. Millennials and Gen Z customers who want companies to care about more than money and won't hesitate to switch brands if they don't.
Being clear, consistent, and honest in branding and messaging may help brands be more real. They'll develop long-lasting ties with clients and prospects.
Trust drives buying.
Source: Envato Elements
Consumers trust brands when they purchase their products. In the U.S., 46% of customers said they would pay extra for trusted brands. Similar percentages of customers have this opinion in Britain and France.
Consumers reward companies that develop trust. This includes creating long-lasting ties with them and sticking to the same brand. Today's consumers value more than product experience. They're also concerned about the brand's consumer experience and social effect.
Long-term, companies that create client trust will win their attention. The same approach applies to the first branding statistic. Being honest and real with clients builds trust.
Color Aids Brand Recognition
In marketing, color selection is important. Choosing brand colors correctly might affect perception. Signature colors boost brand identification by 80%.
Source: OpenAi Tesla Model S Fused with a Lamborgini Aventador Fan Art
Colors evoke certain emotions. Because of this, marketing colors may dramatically affect how people perceive your business. Using the proper colors will increase your brand's visual representation if you're thinking about your brand image.
Let's examine modern brands. Consider which brand you connect with red and yellow; or blue and yellow. Did it take you to McDonald's and IKEA? Or as Lamborgini Aventador and Tesla Model S we fused the images to display how brands can be combined but still recognized by the human eye. Its remarkable.
Similarly, you need to use color to promote your brand.
Source: Flickr McDonald's Car | Dave 77459 McDonald's Car | Dave 77459 | Flickr
Brand impressions matter
A first impression is formed in only a tenth of a second. But first impressions aren't everything. It's not worth taking a chance on your reputation if it means jeopardizing your brand.
People create an opinion of your website in 50 ms.
How frequently have you encountered any outdated websites? I had to make a guess; let's say you may find plenty.
If you have an online shop or company, it's how you appear online. If you neglect your website, you risk losing customers.
Brand Consistency
Brand consistency is maintaining brand values, image, and message across mediums. Consistent branding pleases customers. Consistent brand presentation increases sales by 33%.
Customers want to know your company, and your brand name is a key identifier. Having a consistent brand image helps clients remember and identify with your company.
If consumers know your brand, they'll trust it. Using brand standards to maintain brand voice across platforms provides consumers with a consistent brand experience. People will see it as authentic if you stay consistent with your message.
Source: www.DJM.design the company brand guide
This helps customers remember you. Your logo or brand will tell them what to anticipate and how to feel. Brand consistency is crucial for a relevant identity.
A good brand promotes consumer acquisition, staff motivation, and company direction. Understand your consumers to establish a solid brand image. Also, humanize your brand. Your brand should be relatable and recognizable to consumers.
Caution:
Rebranding can be a bad idea if done improperly. Here are five ways how your rebranding might go wrong:
A lack of proper research
Failure to recognize the importance of brand packaging
Rebranding for the sake of high visibility
Putting too much emphasis on the logo
Rebranding without cause
Take Pizza Hut, for example; Pizza Hut intended to grow its digital presence and mobile app in 2009. The firm also unveiled a brand-new logo, "The Hut," which it claims is "the perfect icon for our mobile generation."
Source: Reddit
Put "The Hut" in perspective. By removing the core component of its brand name (i.e., "Pizza"), Pizza Hut had effectively created a question mark over its whole identity.
What may those who visit "The Hut" expect? The public and media criticized the pointless change, and the corporation eventually returned to its old name.
Even in 2022, the brand continues promoting itself with the tagline "No One Out Pizzas The Hut."
You can watch this YouTube video to learn more about branding: https://youtu.be/xJRRyLu2z6o
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