Rebranding is a powerful tool in the business world. As brands grow and change over time, rebranding helps them stay relevant in the marketplace. It can breathe new life into an existing brand, merge two brands into one, or completely reinvent a brand’s identity. But how do you master these three faces of rebranding? Let’s find out.
First, let’s understand why brands go for rebranding and the strategy behind it.
Why Brands Undergo Rebranding?
There are a few common scenarios that typically lead companies to rebrand:
- Expanding into new markets or targeting new demographics: A brand refresh can help tailor and optimize your brand for new customers.
- Mergers and acquisitions: Integrating multiple brands often requires rebranding to create cohesion.
- Reputation recovery: Reinventing a damaged brand can help regain trust after a crisis.
The Rebranding Strategy
A brand refresh aims to update a brand to increase relevance, without completely overhauling its identity. It often includes:
- Researching new target markets and creating audience personas
- Analyzing competitors in new markets
- Adjusting brand messaging for new audiences
- Updating visual brand identity with logo, website, and collateral
- Revisiting brand voice and tone guidelines
Uber’s Brand Refresh can be taken as an example, as Uber ventured into new services such as food delivery (Uber Eats) and freight transportation (Uber Freight), it realized the need to update its brand identity to reflect its expanded range of offerings. Although it retained its iconic logo, it altered the color palette and illustrations used in its mobile applications and marketing materials to provide a more comprehensive and visually appealing representation of its services. This resulted in a brand refresh that aligned with Uber’s growth strategy and enabled it to stand out in the competitive market.
Brand Merger Strategy
Rebranding is often required when multiple brands merge under the umbrella of a new parent company. Common approaches include:
- Choosing a brand architecture model to organize brands
- Integrating an acquired brand quickly with minor changes
- Carefully transitioning a brand to match the new parent company’s structure
- Unifying visual identities, messaging, and brand personalities
Refresh, Merge and Reinvent: Three Faces of a Rebrand
Whether you need to refresh your brand for new audiences, merge multiple brands together, or completely reinvent your image, having the right rebranding strategy is key. Let’s get a gist about each of these concepts.
Refresh: Breathing New Life into Your Brand
A brand refresh is like a makeover for your company. It’s about updating your look and feel to stay relevant and appealing to your target audience. This could involve subtle changes like tweaking your logo or updating your color scheme or more significant changes like revamping your website or changing your messaging.
The key to a successful brand refresh is to keep the essence of your brand intact. Your customers have formed a connection with your brand, and you don’t want to alienate them with drastic changes. Instead, focus on enhancing what’s already working and improving areas that aren’t.
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Merge: Combining Two Brands into One
A brand merge happens when two companies come together, either through a merger or acquisition. The challenge here is to create a new brand that represents the values and strengths of both original brands.
To successfully merge brands, you need to consider the equity of each brand. Which brand has a stronger presence in the market? Which brand’s values align more closely with the new company’s direction? The answers to these questions can guide your rebranding strategy.
Remember, communication is key during a brand merge. Be transparent with your customers about the changes and how they will benefit from them.
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Reinvent: A Complete Overhaul of Your Brand
Sometimes, a simple refresh won’t cut it. Maybe your brand has a negative reputation, or perhaps it’s just not resonating with your target audience. In these cases, a complete brand reinvention might be necessary.
Reinventing your brand is a big undertaking. It involves changing every aspect of your brand identity, from your name and logo to your mission statement and values. It’s about creating a new identity that aligns with your company’s future vision.
While risky, a successful brand reinvention can completely turn around a company’s fortunes. Just look at companies like Apple and Burberry, who have successfully reinvented their brands and reaped the rewards.
Here is the story behind a brand that has completely reinvented itself.
Whether you’re refreshing, merging, or reinventing your brand, remember that rebranding is a journey, not a destination. It requires careful planning, clear communication, and ongoing effort. But with the right approach, you can master the three faces of rebranding and set your company up for success.