Did you know that sometimes, branding and rebranding go hand in hand? Many brands have undertaken a lot of branding and rebranding activities.
This helped them be heard, be seen, and be loved on a deeper and more grand scale.
However, a lot of brands are still apprehensive about their branding and rebranding activities. So, today, I have come here with a motive to make everything about rebranding and branding clear to you.
Are you ready? Let’s begin.
Branding vs Rebranding
Branding is the term that describes the design and promotion of a brand, its products, and its services. In simple terms, branding involves choosing colors and design elements while creating logos and other elements to make the brand recognizable.
Branding also includes recognition of a brand’s message which is included in its marketing features.
Now you must be wondering what is rebranding then? Don’t worry, I will answer that as well.
Rebranding is used to describe changing or altering an existing brand in terms of its message and design elements.
Branding helps a company and its products and services to set it apart from the market competition. If done properly and consistently, it makes your brand easily recognizable in the eyes of your customers.
For instance, strong branding can be seen in restaurant chains and soft drink brands where people easily recognize them just by their logo.
So, if you want your branding message to be effective, you need to repeat it frequently on varied mediums. Be consistent through your website, building signage, business cards, collateral materials, and product packaging and you are there to succeed.
Rebranding is distinct in itself. It is a kind of repackaging the image of a company and building a new or updated brand. Rebranding puts a new life into your existing brand, its products, and its services.
It also allows the company to embrace a new message or position in the industry. This is a step to reach a new market and attract new customers.
Rebranding is a significant financial investment for a company. Moreover, successful rebranding retains some elements of the previously known and recognized brand. This helps in gaining popularity even if your brand is involved in the process of rebranding.
Brand Refresh and Rebranding
Are you thinking about refreshing the brand or rebranding it? The terms sound similar right? But it is different. I will explain to you how?
When you talk about brand refresh, it is about reimagining your brand’s look and feel. It can include your brand’s adjustments to culture, slogans, or services. It is a kind of primary solution that can turn into a wide-ranging impact.
A brand refresh can redefine your brand in terms of the visual and verbal language across a multitude of touchpoints.
For instance, take the example of Starbucks. It has reinvented its image several times. Just have a look at its logo in the year 1971 and then at its present logo. You will identify the difference.
On the other hand, rebrand refers to the complete repositioning of your brand. When you engage in rebranding, you are leaving everything about the current brand.
It is a restart and requires thorough and deep research along with strategic planning to help your brand move forward.
The difference between brand refresh and rebrand is so profound, you must get your decisions in the right way or it might put you at great risk. Remember, rebrands tend to make bigger differences as compared to brand refreshes.
For instance, take the example of Accenture. After breaking from the accounting firm Arthur Anderson, the company once known as Anderson Consulting was compelled to change its name.
As a part of its rebranding, it was changed to ‘Accenture’ which was inspired by the idea of an “accent on the future”.
The Importance of Branding and Rebranding
I am sure by now you are all clear with branding, rebranding, and brand refresh. However, you must be wondering how branding and rebranding are going to benefit your brand right?
Don’t worry, I am here with a motive to answer all your questions today. So, let’s now understand the importance of branding and rebranding.
Branding and rebranding, both have their importance and relevance in the positioning of a brand.
Firstly let us try to look at the importance of branding.
Branding Increases Business Value
If you aim at generating future business then branding is important for you. A strongly established brand helps in increasing business value by giving the company more leverage in the industry.
This makes it more appealing in terms of its investment opportunity because of its firmly established place in the marketplace.
In the branding process, reputation and value comes with it. A brand with a strong reputation makes the brand strong and turns it into a brand having strong value.
It Generates New Customers
Robust branding will have a positive impression of your brand thus generating trust among your customers. This will help in increasing your customer base than expected.
Also, a well-established brand believing in word of mouth comes with good and effective ideas to attract its customers.
Once a perception of your brand is formed, the uncontrollable chain of propagation begins. Word of mouth will help you in reinforcing your brand reputation.
Creates Trust in the Marketplace
A robust branding is a right way to earn and maintain the trust of your target audiences. It also helps in maintaining trust between the company and its stakeholders.
You can do it by establishing a realistic promise that positions the brand in the market and then delivering on that promise.
Now, let us have a look at the importance of Rebranding.
Sets You Apart From Your Competitors
Rebranding is the most effective way to stand out in the competitive market. It helps you in setting your brand’s offers and approach apart.
Moreover, differentiating your brand from others shows your ideal clients that you are unique in your services. It will portray you as an expert.
The rebranding also gives you a new voice, look and feel and helps you establish your business with a distinct personality. It makes your personality an appealing one.
Helps You Stay Current
One very simple goal of rebranding is that it keeps your brand updated and relevant.
The design of your brand plays a major role in determining how your customers perceive you. It also shows them what you have in your storehouse for them
So, always ensure that your look is ahead of the curve. It shows your customers that you constantly pay attention to the trends within the industry.
Reflects Your Products, Goals, Offers, and Values
Rebranding helps in showcasing how your brand is continuously evolving. It is the best way to highlight your expanded products and all the extra things that you aim at providing.
Sometimes it is very hard to showcase how your company has grown when your brand doesn’t reflect it. So, rebranding is the way to do it.
Go with it and all your problems are sorted.
8 Best Practices to Follow When Branding and Rebranding
When you are practicing branding and rebranding, it requires you to be involved in some best practices to get defined results.
I will tell you a few best practices to follow in your branding and rebranding process.
Determine Your Target Audience
The very first step when you start with branding or rebranding is to determine who your target audiences are. They are the ones who will determine the success of your activities.
Remember, a strong step starts with specificity. You should be clear for whom you are building a brand and for whom you are rebranding yourself. Get to know the buyer persona first and then go with your desired activity.
This will not help you in knowing customers’ needs but also form healthy customer-brand relationships.
Conduct Thorough Research
Your marketing activity begins with thorough research. To know about your brand and niche, you must look into both internal and external constituents.
Analyze and learn from the existing brands that are similar to you and then come up with branding and rebranding ideas.
This will not only help you in excelling in the industry but also help you to avoid mistakes that put you back. It will turn your activity into a win-win activity.
Identify the Benefits That Your Brand Offer
Another best practice for branding and rebranding is identifying the strengths and best qualities of your brand. This will help you in taking the best decision when you carry out your branding and rebranding activity.
It lets you know what areas you should cover to get your customer’s attention.
Create a proper structure before rebranding and identify your strengths and weaknesses before branding.
Build a Strong Message
Be it branding or rebranding, building a strong message is important in both. It helps brands to put themselves distinctly in the market competition.
Tell your customers the reason behind your branding or rebranding. This will pull them towards you and help gain trust in you.
Remember, a customer’s initial encounter with you will make them stick to you and influence their perception of your business.
A sharp brand message helps you in placing your brand uniquely in the market.
Spread the Word of Your Brand
Brand recognition is very important if you want to go with branding or rebranding activity.
After all, you want your customers to stick to you and also attract new customers to your brand.
So, for that, you need to be very careful about spreading your brand’s word to your customers. Word of mouth is the most influential factor in determining affinity for a brand.
Stay True to Your Branding and Rebranding
Here comes the element of consistency. If you want to succeed in your branding and rebranding activity, you need to stay true to it along with being consistent.
You should be clear with whatever you do. Only then will you be best able to serve your customers’ needs.
Do not confuse it with being rigid. Instead, define yourself with a set of principles and values. Do not compromise your branding or rebranding by being flexible.
Set Clear Expectations for Your Customer’s Future Experience
You have a particular aim behind your branding or rebranding activity. So, whatever it is, you need to set clear expectations in the mind of your customers.
Let them know what all they can expect when you do so. This will help in retaining them and also make them choose you to satisfy their needs.
Keep it concise, unique, and memorable. It should capture your customers’ attention.
Launch Plans to Unveil It
Keep yourself organized while launching your branding or rebranding activity. You can collaborate with influencers or create brand ambassadors to carry out all the activities.
Both branding and rebranding are exciting initiatives. Make the most out of it with a smart strategic strategy. Your branding or rebranding activity should help you to better position your brand in the market.
Branding and Rebranding Examples
Pabst Blue Ribbon
I am sure not many of you are aware of this brand. However, did you know that this brand sells for $44 a bottle in China?
We all know that China is the biggest market for beer. This is the advantage this brand took. The brand that seemingly had an image of being a cheap beer brand turned out to become one of the most elite beer brands in China.
How? The answer is by branding and rebranding. They did a little rebranding while keeping their branding intact.
Moreover, they added a touch of being produced overseas in the China market which gave them an added edge in this foreign market.
End result? A super-strong stand in the china market and enhanced brand identity.
Coty Butterfly Color Pop
Coty is one of the leading cosmetic brands in the USA. However, did you know the color popped butterfly logo we identify Coty as did not exist a few years back?
Not long ago, Coty represented itself in simple color with a simple logo. However, they soon realized the personality they wanted to portray wasn’t in alignment with the brand image they were sending out.
This is when the mighty process of branding and rebranding began.
They revamped all of their brand images to be more aligned with their brand values and the products they offer.
They changed their logo to an infused butterfly that was representing the bold and beautiful personality they had.
Trust me this process really worked in their favor because now, they look worth a million bucks. I am sure you all will agree to it.
Sony PS5 London Tube
Sony PS5 has been launched in the UK. The marketers have done an excellent job even during the pandemic to bring greater awareness about their product. To indicate the launch of the #PS5 in the UK, Sony had seized Oxford Circus Tube station in London.
This lasted at Oxford Circus for 48 hours and saw the Tube station rebranded all around with PlayStation shapes. Their circular signs were changed to reflect the popular PlayStation controller symbols. This was done at 3 of the 4 main entrances to Oxford Circus underground station.
Good branding enhances a company’s reputation, offers guidance and inspiration to customers making it easier to attract new customers.
Moreover, if it is already a well-known brand like Sony, it will only increase the value of a company. This happens by giving the company more influence in the market while attempting to generate potential sales.
People prefer to do business with organizations they are acquainted with. Social Media along with this had also helped Sony.
This is because with social media you get greater visibility. People had loved this new change and posted it everywhere on social media. It’s a win-win scenario for PS5 and sony, right?
Sometimes, branding and rebranding activities go hand in hand. To brand yourself you have to rebrand another.
Proper marketing strategies and implementation of them with a drop of creativity will ensure your brand journey towards success. What do you think about the new PS5 by Sony?
