Rebranding: Explanation & Why Big Companies Are Doing It?

In a world where consumer preferences are ever-changing, staying relevant as a brand can be a challenge. Enter rebranding – a powerful marketing strategy that can breathe new life into a brand. 

Rebranding involves changing a brand’s name, logo, design, or messaging to create a fresh identity that resonates with customers.

While rebranding can be a risky move, big companies are increasingly embracing it as a way to stay ahead of the curve. When executed correctly, rebranding can revitalize a brand, attract new customers, and ultimately drive growth. 

This is precisely why big companies are using this strategy to keep their brand current and competitive in the marketplace.

In this article, we’ll explore the reasons behind rebranding and the benefits it can bring to a business. Join us as we explore the power of rebranding and why top companies are turning to this strategy to stay ahead in today’s fast-paced world.

Why Do Companies Rebrand?

Companies rebrand for various reasons, but the main objective is to improve their brand’s image and increase revenue. Here are some reasons why big companies rebrand:

• Outdated Brand Image: An outdated brand image can make a company seem irrelevant and out of touch with current trends. Rebranding helps companies stay current and attract new customers.
• Company Merger or Acquisition: When two companies merge, or one acquires the other, they may choose to rebrand to create a new identity that represents the new entity.
• Change in Company Direction: A change in a company’s focus or target market may necessitate a rebrand to align with the new direction.
• Negative Brand Image: Negative publicity, controversy, or a tarnished reputation can prompt a company to rebrand to distance itself from the negative image.
• Expansion into New Markets: When a company expands into new markets, rebranding can help create a new identity that appeals to the new market’s preferences.

The Process of Rebranding

Rebranding is a complex process that involves multiple steps. Here are some key steps involved in the rebranding process:

1. Research and Analysis: Companies need to conduct extensive research to understand their target audience, competition, and market trends. They also need to analyze their current brand image, messaging, and identity to identify areas that need improvement.
2. Define Brand Strategy: Based on research and analysis, companies need to define their brand strategy, including the new brand image, messaging, and identity. They need to consider factors such as brand values, mission, and target audience.
3. Design and Development: Once the brand strategy is defined, the company needs to create a new visual identity, including a new logo, color scheme, typography, and design elements.
4. Implement the New Brand: After the new brand is designed, the company needs to implement the new brand across all touchpoints, including the website, social media, marketing materials, and physical locations.
5. Launch and Promote: Once the new brand is implemented, the company needs to launch and promote the new brand to its target audience. This may involve a launch event, advertising, and social media campaigns.

Strategies You Can Use When Rebranding

Rebranding is a significant decision for any business that can impact its image and reputation. Here are some strategies you can use when rebranding, according to expert opinion on Tailor Brands:

• Identify your reasons for rebranding and set clear goals.
• Conduct research on the current market to understand your target audience and competitors.
• Develop a cohesive brand identity that reflects your company’s values and goals.
• Create a comprehensive communication plan to inform stakeholders of the rebranding.
• Implement the rebranding across all touchpoints, including your website, social media, and marketing materials.
• Monitor the rebranding’s impact and adjust strategies as needed.

Examples of Rebranding

Rebranding is a common practice among companies to keep up with the fast-changing market trends and customer insights. Here are some examples of companies that were successful in their rebranding efforts:

1. Apple – Apple’s original logo featured a complex illustration of Sir Isaac Newton under an apple tree. In 1997, the company rebranded with a simpler logo featuring an apple with a bite taken out of it, which is now one of the most recognizable logos in the world.
2. Old Spice – Old Spice, a brand that had been associated with older generations, successfully rebranded in the early 2010s with a new marketing campaign aimed at younger audiences. The brand’s humorous ads featuring Terry Crews and Isaiah Mustafa went viral and helped increase sales.
3. Uber – Uber’s original logo featured a stylized “U” in black and white. In 2018, the company rebranded with a new logo featuring a bright, multicolored design. According to Forbes, the rebranding helped the company move away from negative publicity and portray a more positive and innovative image.
4. Nike – Nike’s original logo was a simple swoosh, but the company’s 2019 rebranding effort featured a new logo with a bolder and more modern look.
5. McDonald’s – McDonald’s iconic golden arches have remained relatively unchanged since the company’s founding. Still, the brand has undergone several rebranding efforts, including a shift towards a more minimalist design in recent years.

In Conclusion

Rebranding is a crucial strategy for companies looking to stay relevant and attract new customers. While it can be a risky move, when done correctly, it can lead to increased revenue and a revitalized brand image. 

Companies rebrand for various reasons, including an outdated brand image, a change in company direction, and expansion into new markets. 

The rebranding process involves multiple steps, including research and analysis, defining brand strategy, designing and developing the new brand, implementing the new brand, and launching and promoting the new brand.

Ultimately, the success of a rebranding strategy depends on a company’s ability to create a comprehensive and cohesive brand strategy that resonates with its target audience. 

By understanding the reasons for rebranding and following the proper steps in the rebranding process, companies can create a new identity that attracts new customers and increases revenue.