When it comes to circumstance, there could be hundreds of reasons why you may have to think about doing a re-branding of your business. There really isn’t anything more daunting for a business than having to form a marketing plan again to re-introduce themselves with a new look or partnership.
Take a look at some common situations why you might be forced into re-branding in order to gain back the confidence of your customer base.
A Business Acquisition
If you have to merge with another company in order to survive, it’s usually going to mean some changes to your brand. Whether that be to the name of your company, a change in logo, or even changes to your products, any changes mean disturbing what worked before.
Longtime customers who became used to your brand may rebel by switching to your competition. It’s why a re-branding process has to take place immediately and even before the merger to make customers aware of upcoming changes.
An Outdated Logo
There’s something to be said about creating a timeless logo ahead of time. However, perhaps you didn’t have that foresight years ago when creating your logo with an overly trendy design. When you go trendy, a logo can become outdated fairly fast. If your logo looks like it’s straight out of a prior decade, you might want to bring it up to date. But it’s still essential to keep the essence of the original logo if your customer base finds it overly familiar.
Needing to Target a New Audience
It’s possible that the original demographic you marketed to years ago no longer fits your business model or changed with the times. Going by a fickle demographic can bring a major scare to a company who rely on them. A re-branding toward a new demographic can sometimes work well.
Being Deemed Outdated by Your Competition
Competition can get nasty sometimes, and a new business on the block that’s similar to yours might get this way in their advertising. They may deem your business outdated while trying to prove that they’re the better choice. In that regard, you might have to do some re-branding to prove you’re still the better choice. You just have to reiterate your business’s strong suits and improve ones that might be outdated.
Involvement in Something Negative
A business never wants to have bad publicity due to an unfortunate incident. But it can happen at any time, which means a business has to be prepared to re-brand at the last minute. Perhaps it was a violent event that happened in your business, bringing unwanted press. Or, it could be something internal like an illegal business deal or relation. This is where social media should be used as a pedestal for reputation marketing as well as re-branding to remind everyone that you’ll improve things.
Needing More Differentiation from the Competition
Certain industries can sometimes get overly crowded where 50 similar companies are jostling for who’s the best. Everything from pizza makers to lawn care services can be examples where there’s far too many options for consumers. At one time, it’s possible there was only one or a few, and a re-branding may be necessary for you to stand out amongst the noise.
An Outdated Product
This may be the most common reason why re-branding has to occur. Particularly if you sold analog products, going digital would have been necessary by now or your business wouldn’t survive. Regardless, the scenarios can be numerous why your product could become outdated. You may have to reintroduce all new products because of that, meaning an extensive re-branding of inventory while still keeping your well-known name.
If you need to go through the process of branding something new or re-branding, turn to McAllister Marketing. We’re a consumer-focused marketing agency that makes sure your customers understand what your brand is all about. That’s going to be even more important when you reinvent yourself.
Contact us so we can meet with you and discuss your branding. We’ll help you put together various marketing communication strategies to help get your new branding message back into the ears that matter.