Every company has a name, a logo, a slogan, a website, and a brand style (specific fonts, colors, and imagery). This entire visual design and brand communication system represents your business in the market. And the process to redesign all of these elements, or change even one of them, is known as rebranding.
However, rebranding is too risky for a business that is already well-established. There are high chances that your customers do not like the new brand. In case you think of changing your brand image, it is important to first answer the ‘why’.
Given ahead are top 3 reasons, you may call them red flags, that signal that now is the right time!
Companies that have a solid reason to acquire a new brand for themselves are most likely to achieve success. Identifying this purpose before planning for rebranding means you clearly know which road you are taking. And you know what destination it will take you to.
Technology is ever-changing and evolving. If your business operates in an industry that is highly impacted by the changes happening in the tech world, you may need to change your business model. Or, you may need to shift your objectives as per the emerging opportunities. So, when your industry evolves, you need a fresh identity that resonates with the new offerings.
Take, for example, the health and wellness industry that is always changing with technology. Once upon a time, people could only get information to lead a healthier lifestyle. But now mobile innovation is enabling every individual to actively monitor their health from the comfort of home.
Hence, if your business is shifting to adapt to such significant changes in the industry, you need rebranding.
Sometimes, a business decides to target a new market. With success comes the opportunity to expand horizons. When you are heading to achieve this, your brand identity becomes less meaningful. You may have a logo that is small in scope or a name that is too product-specific. Or, you may have a website design that appeals only to a specific age group. So, in such cases, you need rebranding to reach out to new customers.
As a matter of fact, there are some companies that haven’t had a rebrand since their grandfather founded the business. If you have a long-established company as such, you may need a rebrand to stay with the time.
Consumers' needs and their decision-making behavior changes with time due to several reasons. When it comes to your brand, consumers are at the heart of it. Their needs, their wants, and their aspirations are the cornerstone of your company.
So when your brand values, vision, mission, and promise do not coincide with theirs anymore, rebranding becomes a must. Because that's how you can fill the communication gap between your brand and its patrons while winning their trust back.
It is very important to first understand whether you need a partial rebranding or a complete visual identity transformation.
If your company is running for a few decades and has earned people’s love, a partial rebrand may help you retain brand loyalty.
Nevertheless, a full rebrand becomes necessary if a fundamental change is taking place in your organization. For instance, you may be launching a game-changing product or service. Or, you may be going for a merger and acquisition. In such cases, a complete rebranding is important to let people know what’s new in store for them.
CVS Health, formerly known as CVS Caremark, underwent a full rebranding by changing its name as well as visual design. It is the second-largest drug retailer in the US which was also included in the list of Fortune 500 in 2013.
The legendary brand, found in 1963, decided to go for rebranding.
CVS Pharmacy (part of CVS Caremark) used to sell tobacco products along with medications and other health supplies. Its tobacco products accounted for 4% of its sales. But the brand was looking to reposition itself as a health-focused drugstore and take a bold initiative to help consumers quit smoking.
The company took a landmark step and stopped tobacco selling. CVS Caremark changed its name to CVS Health. Its spokesperson said that the new name reflects our purpose of helping people on their road to better health.
In addition, the rebrand introduced “health heart”, a flexible graphic element used throughout the branding. Thus, this new design element further emphasized the brand’s intention to serve the broader commitment towards healthcare.
Just changing the name and taking a stand against tobacco added to its marketing ventures. Through public relations support and social media, it was able to garner over 100,000 tweets. It even received a comment from the President.
CVS Health spokesperson stated that the rebranding efforts help the company for an expanded role in healthcare. The new name CVS Health covers all of its four brand services including pharmacy, retail, in-store clinics, and its own Digital Innovation Lab. The rebranding was also done to communicate its broader commitments towards healthcare.
A one-of-a-kind initiative like banning tobacco gave the company’s rebranding a strong purpose - despite being an established name.
After rebranding, CVS Health enjoyed a 5.5% jump in sales and a 22% rise in pharmacy services revenue.
There are various situations when a website should undergo an overhaul.
One of the loose rules is that companies should keep updating their website every 3 to 4 years. It keeps your site in line with design and SEO trends. Experts suggest that if you keep using the same website design and interface, it may start appearing obsolete or outdated to your users.
Next, if you are targeting a new market you need a new visual design and user interface to offer an appealing user experience. For example, until now your business was only targeting the millennials. But now it is preparing to reach out to elderly people. So, without a doubt, you need a new interface that caters to the needs of both age groups. Because different demographics, cultures, regions all have different preferences for visuals, text tone, interface, and interaction.
Even when your brand undergoes a complete rebranding, the same changes must surface on your website as well.
Once you are done with the rebranding process and have painted your business with a new identity system, it's time to go out in the public. Not literally, but through launch.
Launch is the move that lets your clients, existing customers, and target audience know about your new look. It is all about making an appealing announcement on channels where your audience connects with you. It includes your social media pages, email system (newsletters), website, and ads (both print and digital).
Furthermore, it also necessary to involve your sales team in the launch to ensure that your rebranding is working both ways. It also helps your team to feel their contribution to the new update on a personal level.
After you’ve successfully launched your new brand, the audience may not be able to resonate with the new look and feel - immediately. This especially holds good for already established big brands.
Therefore, to ensure your rebranding effort reaches your customers’ hearts and minds as soon as possible, here’s an idea. You might want to consider a pre-launch plan before revealing the new brand identity. You could use social media and newsletters to share your rebranding story. Some hints and ideas about what’s going to come. Perhaps, you could also blog about it on your website.
But just make sure that when you are selling the story of your new brand, the changes you’ve made are worthwhile. It should improve the experience of your existing customers while taking care of the prospects.
Whether it’s branding or rebranding, the first stage that determines a clear-cut path is strategy. PulsAero follows a planned and systematic route to create a strategy that ensures your rebranding serves the purpose. We dive deep to research your target market and target audience to make your new brand a practical success. Of course, this happens after we understand your core objectives.
The creation of a new visual design and communication system includes four stages: Strategy, Identity, Interface, and Launch (SIIL). These are not just the requirements of a full branding process but also the core services offered by PulsAero.
If you would like to know what PulsAero’s SIIL service looks like, enter this page. We bet you would just love the way we take you through each stage.
Above all, we are open to have a transparent and honest conversation to take things ahead.
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