In the life of a business there comes a time when a rebrand may be necessary. Change can be daunting, but it can also be a great way to breathe new life into your business. So, how do you know if your company needs a rebrand? Here are the top 6 signs that your branding … Continued
Why Now Is The Best Time To Rebrand
A brand reflects the experience your customers can expect to have with your business. A good brand effectively communicates what your business does and how it does it while establishing trust and credibility.
However, they also have to be flexible – even the most successful brands change over time, especially in times of crisis. This is why knowing how to successfully rebrand is important. Here is why now, during a global pandemic, could be the best time for your business to proactively rebrand.
What is Rebranding?
Rebranding is the act of changing the corporate image of an organisation. This could be through adopting a new purpose, name, symbol or design change. The intention of rebranding is to forge a new identity for an already established brand so as to differentiate it from its competitors.
There are few reasons why a business may choose to rebrand, but most often it is to reconnect with their customers and, typically, there are two types of rebranding; proactive and reactive. Proactive rebranding is employed when a business identifies an opportunity to grow or to tap into a new market. Reactive rebranding, on the other hand, is in response to a changing situation, whereby the business is forced to rebrand to survive.
Why Should I Rebrand?
As COVID-19 continues to disrupt industries, businesses big and small have now found themselves in a position where a rebrand is necessary. Rebrands can be risky, customers may not like it and you may the lose brand recognition you worked hard to build. However, a brand change also invites a public image reassessment and therefore a public perception change.
This is why businesses in affected industries have taken the Coronavirus outbreak as a chance to redefine their purpose. By investigating how your businesses can be of use in the current climate, you may find new avenues of opportunity. Therefore, a reactive or proactive rebrand can help in how your business finds solid ground in uncharted territory.
Our talented team of branding experts can help build up your business with purpose, confidence, and a strong personality that will attract your ideal customers and inspire loyalty for your business.
In Business, Flexibility Means Survivability
Rebranding can be an effective solution for a company during and after a crisis. Successful rebranding must indicate a new direction for the company, mainly by communicating the businesses vision and message to their customers.
During a global crisis, brands need to communicate effectively and authentically if they are to experience long term gains. There is an understanding that ‘we are all in this together,’ so why not listen to your customers, and ask for feedback? This can be a key step in determining whether a rebrand is necessary.
By asking customers what they need and expect from your business, you can ensure that your rebranding efforts are aligned with changes in your customer expectations and experiences, rather than used as a generic crisis response tool. After all, a brand is first and foremost a reflection of the relationship between customers and the company.
A good brand can help build trust and elevate your business to something more than a product or service. Take ‘Pret a Manger’ as an example; by taking decisive action during the pandemic they overcame past controversy and gained public favour.
After 2018’s allergen crisis, Pret A Manger’s ‘honest’ reputation suffered significantly, but by using customer feedback to make a lasting institutional change, they were able to reclaim their image. Acting on their ‘doing the right thing (it’s what makes Pret, Pret)’ tagline they quickly responded to the pandemic by closing their stores, operating as a takeaway only business, and providing free hot drinks and discounts for NHS workers.
Pret a Manger isn’t the only business to undergo a rebrand during COVID-19, Time Out has temporarily rebranded to ‘Time In’ to encourage social distancing, and various restaurants have begun transforming into small grocery stores to mirror the changing needs of their customers.
How Do I Rebrand?
As the world goes into lockdown, deploying rapid and appropriate action that links to a wider purpose is the key to survival. If done correctly, a proactive rebrand can be an opportunity to grow, innovate and build trust with your customers.
At Strive Digital we can help you create and develop a brand identity that will leave a lasting impression, to benefit from a team that brings brands to life strategically, digitally and creatively, get in touch today.