Re-branding, or the change of a brand’s image, is a key strategy in the business world that involves the review and renewal of a company’s identity. In an ever-evolving business environment, the question arises: is it time to subject your brand to a re-branding? In this post, we’ll delve into the fundamental aspects of re-branding, from when to consider it to why it’s important, as well as the basic steps to carry it out successfully.
When to consider re-branding:
To consider a brand image change, the following points should be assessed:
- Change in vision and mission: If the company’s vision and mission have evolved, re-branding can align the brand identity with these new objectives.
- Adaptation to the market: Faced with changes in the market, such as new trends or the entry of competitors, it is crucial to evaluate if the brand remains relevant.
- Overcoming reputation crises: If the brand has faced reputation challenges or crises, this strategy can help rebuild trust and project a renewed image.
- Innovation and modernization: In cases where the goal is to highlight innovation or modernization, a change in image can reflect these characteristics.
Why do it: Advantages to consider
Among the reasons to carry out this strategy are:
- Relevance and competitiveness: Relevance in the current market is essential. Re-branding can keep the brand competitive and attractive to consumers.
- Attraction of new audiences: A refreshed image can attract new market segments, thus expanding the potential customer base.
- Adaptation to changes: Society constantly changes, and a brand must be aligned with these changes to be perceived as contemporary and current.
- Correction of negative perceptions: If the brand has negative perceptions, a change can improve these perceptions and offer a new outlook.
How to successfully re-brand:
If you also want to adopt re-branding in your company, here are the steps you should take:
- Internal and external analysis: Evaluating the company’s internal situation and understanding external perceptions is key to identifying the need for re-branding.
- Define objectives: For example, improving perception, attracting new customers, or repositioning the brand in the market.
- Develop the new visual identity: Create a new visual identity that reflects the values and key messages to be conveyed.
- Communicate effectively: Plan a communication strategy to inform customers about the change.
- Opt for a gradual implementation: Introduce the new branding gradually to minimize confusion and allow for a smooth transition.
What is the difference with restyling?
Re-branding and restyling are different approaches to brand identity management. While the former involves a profound transformation in a company’s vision, mission, and values, as well as its visual identity, the restyling focuses on updating and improving visual aesthetics.
On the other hand, re-branding is a strategy that seeks to redefine the essence of the brand to adapt to significant changes in the market, culture, or the company’s direction. Restyling is more tactical and concentrates on refreshing the visual image to maintain aesthetic relevance and appeal, without altering the underlying essence of the brand.
Do you also believe that re-branding is a safe bet for your brand?
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