Image source: 99designs
FACT: Most companies undergo a rebrand at some point. This is not an indicator of dire times and desperation; quite the contrary, rebranding is a sign of evolution and growth. This excerp below comes from this blog post originally published by 99designs, and offers some scenarios that could warrant a rebranding effort:
The target demographic has changed
As it grows, your company may be trying to target a broader audience, and the brand should reflect this. A common example is that of an established company that rebrands in order to appeal to the millennial crowd. One company that has done this very successfully is Adidas. In the past few years, the sports retailer has gained considerable market share—to competitors like Nike and Under Armour—by capturing the increasingly large athleisure segment adored by millennials. The key to success? Focus on digital-only marketing and influencer branding strategy.
New competition, technological shifts or taste trends have emerged
If technology has disrupted your industry, a rebranding could be necessary to keep up with competition and to reposition as a leading-edge company in the new environment. Perhaps the change is not necessarily tech-inspired; new consumer taste trends may be affecting your industry, such as the wave of organic and locally-sourced preferences in the food industry.
The business has changed in a significant way
Your company may have pivoted, expanded into new product lines, entered international markets or acquired/merged with another company. Your brand needs to reflect these important changes, and not be left behind to represent your company’s past identity.
There hasn’t been a cohesive branding effort—yet
When companies just start out, it’s not unusual to be very scrappy with branding: you just slap a quick logo and come up with any other brand elements in a haphazard way. However, as your company grows, a more deliberate branding effort could go a long way to make the company appear more professional.
The brand is dated
After many years in business, your branding may not feel as contemporary as it should. Your 1990’s logo in neon-colored bubble letters could certainly use a fresh take (alongside anything in Comic Sans, please).
Click THIS LINK to read 99designs' article about how to successfully execute your rebrand.