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Balancing the timing of rebranding is a delicate art that requires a strategic blend of staying fresh and maintaining brand identity.
As a Founder, CEO, or Brand Manager, the “when” to rebrand can be a tricky card to play. On the one hand, you want to make sure that your brand is always fresh and relevant. On the other hand, you don’t want to rebrand too often, or you risk confusing your customers and diluting your brand identity.
So, how do you know when it’s time to rebrand? Here are a few things to consider:
Your Company Has Evolved.
If your company has undergone significant changes in terms of its mission, vision, values, or product offerings, it may be time to rebrand to reflect those changes. For example, if you started out as a small tech company and have since grown into a global enterprise, your old branding may no longer be appropriate.
Let us look at an example of this.
Facebook evolved from a social media platform to a metaverse company, and rebranded to Meta in 2021.
Facebook rebranded to Meta in 2021 to reflect its focus on building the metaverse, a virtual world where people can work, play, and socialize. The company believes that the metaverse will be the next frontier of the internet, and it is investing heavily in developing the necessary technologies.
Your Target Audience Has Changed.
If your target audience has changed, it may be time to rebrand to appeal to your new customers. For example, if you used to sell children’s toys but now you’re targeting adults, you’ll need to update your branding to reflect that change.
One example of a company rebrand when their target audience changed is Calvin Klein. Calvin Klein was originally known for its high-end fashion, but in recent years, the company has targeted a younger audience with its more affordable CK line.
The CK line features a variety of trendy clothing and accessories, and it is marketed through a variety of channels, including social media and influencer marketing.
The rebrand has been successful, and Calvin Klein is now one of the most popular fashion brands among millennials and Gen Z consumers.
This example show how companies can successfully rebrand when their target audience changes. The key is to understand the needs and wants of the new target audience and to develop a branding strategy that appeals to them.
Your Brand Is Outdated.
If your branding is outdated, it can make your company look old-fashioned and out of touch. If your logo and website haven’t changed in over a decade, it may be time for a refresh.
An example of a company rebrand when the brand is outdated is Old Spice.
Old Spice was a popular deodorant brand for decades, but it started to lose market share to newer brands that were targeting younger consumers. Old Spice’s branding was outdated, and its products were seen as being for older men. In 2010, Old Spice launched a rebranding campaign that was designed to appeal to a younger audience. The campaign featured a series of commercials that showed Old Spice in a new light. The commercials were funny and irreverent, and they quickly went viral.
Old Spice also updated its branding and packaging to make it more modern and appealing to a younger audience. The new logo was simpler and more streamlined, and the packaging was more modern and eye-catching. The Old Spice rebrand was a huge success. The campaign helped to increase brand awareness and sales, and Old Spice is now one of the leading deodorant brands for men of all ages.
Your brand is not resonating with your customers.
If your customers are not connecting with your brand, it may be time for a rebrand. If you’re getting negative feedback about your branding, or if you’re not seeing the results you want from your marketing campaigns, it may be a sign that your brand needs a makeover.
One example of a company rebrand when the brand is not resonating with customers is Dunkin’ Donuts. In 2018, Dunkin’ Donuts dropped the word “Donuts” from its name, becoming simply Dunkin’. This was a strategic move to reflect the company’s expanding menu, which now includes a variety of food and beverage items, such as coffee, sandwiches, and salads. Dunkin’s previous branding was seen as being outdated and unhealthy. The new branding is more modern and appealing to a wider range of consumers, including millennials and health-conscious individuals. The Dunkin’ rebrand has been successful. The company has seen an increase in sales and brand awareness since the rebrand. Dunkin’ is now seen as a more modern and convenient option for food and beverage on the go.
If you're considering a rebrand, it's important to weigh the pros and cons carefully. Rebranding can be a costly and time-consuming process, so it's important to make sure that it's the right decision for your company.
Here are a few tips for deciding when to rebrand:
- Do your research. Talk to your customers and employees to get their feedback on your branding. Conduct market research to see how your brand compares to your competitors.
- Set clear goals. What do you hope to achieve with a rebrand? Do you want to increase brand awareness, improve customer perception, or launch a new product or service?
- Develop a rebranding plan. Once you’ve set your goals, develop a plan for how you will rebrand your company. This plan should include a timeline, budget, and creative brief.
- Get buy-in from stakeholders. It’s important to get buy-in from your employees, customers, and other stakeholders before you launch your rebrand. This will help to ensure a smooth transition.
