Level-Up Your Business with a Brand Overhaul
January 29, 2021
Branding is an important part of any business’s identity. This could relate to an integral element like a brand’s name or logo, or other considerations like brand colours or tagline/motto. Anything that will be viewed by potential customers needs to be thought about carefully. There may be many reasons why your business might desire a rebrand. A design studio Melbourne located may be able to help here. But before we take a look at the ways that you could approach a brand overhaul, let’s examine some of the reasons why you might want to do so in the first place.
As we’ve touched on in another blog, there are a variety of reasons why your company might want to consider rebranding. Although a new brand design might not be suitable for every company, you’ll be best placed to assess why you might want to rebrand and whether you’ll be in a good financial position to be able to realistically achieve this. Certainly, there have been instances where a rebrand has ended up costing a company a lot of money rather than making them more profitable. Of course, you’ll want to avoid this, so read on to find out how best to approach a potential brand overhaul.
Reasons For a Brand Overhaul
Brand Values
With companies constantly progressing and updating their vision, your business needs to make sure that your branding is keeping up with any changes and that the look and feel of your brand doesn’t feel outdated. A brand’s goals and values will inevitably change over time so ultimately branding needs to reflect this. In some unfortunate cases, for example when a company is the subject of a highly publicised scandal, a brand overhaul is absolutely necessary.
Market Repositioning
If you’re already an established company, you might be looking to sell a new or updated product, market a new service or target a fresh audience or demographic. A brand overhaul could be just the thing to help you connect with new customers and reposition yourself in the market.
International Expansion
This ties into the previous reason but deserves its own special highlight as rebranding into a new region internationally is a big deal! You’ll need to do your research to see how your company will be perceived in a new country and update your branding accordingly in order to appeal to new customers in a fresh market.
Mergers and Acquisitions
If you acquire a new business or merge with an existing one, you’ll need to consider rebranding in order to mark this new, exciting chapter and effectively reflect this significant change.
Advantages of a Brand Overhaul
Stay Current
Staying relevant in an ever-changing economy is one of the top advantages when it comes to overhauling a brand. Current and new customers will be impressed by your ambitions to keep up with the times as you evolve and grow as a company.
Connect with Loyal Clients and New Audiences
Not only is it important to appeal to your current customers with a fresh look, but when you overhaul your brand you get the opportunity to reach an even wider audience than ever before. This is hugely beneficial for business, as it will introduce you to people who might want to work with you in the future or purchase a product or service from your company.
Showcase Business Growth
When you opt for a brand overhaul, you are deciding to put the time and effort into making sure that your brand is always reflecting where your business is at that moment in time. Show your customers and clients where your business is headed and be proud of the statement that you’re making.
Stand Out from the Competition
Not everyone has the ability or resources to reimagine their brand, so taking the opportunity to rebrand means that you can set yourself apart from your competitors and give you the upper hand.
Hopefully this list has given you some inspiration for a potential rebrand for your business if that’s something you’re considering. If you need some guidance on branding or marketing, feel free to reach out.
