“The only thing that is constant is change.”
— Heraclitus, Greek philosopher, 500 BC
Fact: Things change, and brands evolve over time.
More importantly the world around us is changing at an exponential rate. Social norms and customer expectations, market trends, technologies, and business practices — are moving interdependent of each other and in constant flux. What’s new today is old tomorrow.
Your “brand” is one of the most valuable assets your company owns. It’s who you are, what you stand for, your products and services, and how you interact with customers — and most importantly their perception of your company and those interactions. However, your brand isn’t necessarily static. Successful businesses learn to evolve their brands over time to address changes in their company, the market, and the expectations of customers. Rebranding is a challenge, but the payoff can be huge.
As you can imagine, the word “rebranding” strikes fear in the minds of most corporate executives. Humans instinctively avoid or postpone change. We like what we know. Change can be scary. But think of it as going shopping for new clothes. You’re a little older, wiser, and want clothes that show off your best traits. Your company’s branding should do the same.
The process of rebranding doesn’t have to be scary, in fact it can be very cathartic and refreshing. Here are five valuable results rebranding can offer:
- Modernize Your Image
All you have to do is look at logos of popular brands 10, 20 years ago or longer alongside their current logos, and you’ll see the importance of developing a modern look. Trends in visual design and typography are always shifting. If you don’t stay on top of these trends, your image and, in turn, your brand can easily seem dated.
- Boost Your Financial Outlook
Investing in your brand will more often than not pay off in the financial department. Think about the most successful brands out there — Apple, Nike, Starbucks, Coca-Cola — these brands have all worked hard to cultivate their brand and the image it projects. Staying on top of their brand has paid off for these firms with immediate brand recognition and financial success.
- Help Customers Understand What You Provide
When you develop your company and your offerings slowly, your brand may not accurately reflect who you are and what you provide. A rebranding can simplify your image and help customers see you as the “smart choice” in your industry.
- Send an Unmistakable Message
Rebranding shows potential and current customers that you are not satisfied with “resting on your laurels,” so to speak. By rebranding, you send the message that your company is willing to do what it takes to stay relevant and earn the business of everyone who chooses you.
- Better Engage Your Staff
Employees need to feel a positive connection to their workplace for them to be fully engaged in the work they do. A rebrand can give all your employees a better relationship with your brand and everything it stands for.
After exploring these five results, don’t hesitate to discover the value that a properly executed rebranding process can bring to your business.
At Workhorse Marketing, we often assist our clients with rebranding projects. Connect with us and schedule a consultation to find out how we can guide you through this task and help you achieve all your rebranding and marketing goals.