What exactly does that mean to you and your stakeholders?
Let’s do a quick thought exercise:
- What is the first thing that comes to mind when you answer the question…why rebrand?
- What level of changes are you considering?
- Is this a brand tone, message, or product positioning exercise?
- Is this a core mission, vision, or go-to-market level strategy?
In most cases, what organizations are looking to accomplish is really just an evolution of the brand. Usually, when the word “rebrand” is used by some brave soul at an organization, there is mass chaos, alarms go off in the Accounting department and the whole HAIR ON FIRE thing happens. “It’s too expensive,” and “we don’t have the time to commit to this” begin to be heard.
Further, if there’s a need to use this dramatic word in response to a change in the organization or market, chances are time is of the essence. So, why don’t we talk more so about the brand evolving into its next phase of life…responding to the changing marketplace? Evolution. Moving forward. Helping the brand to “live in the world today.” Not Chaos…which takes time to resolve and costs a lot of money to quell. In this way, there’s a real need to “rebrand” the very word “rebranding.”
Is It Worth It? What Are the Top 5 Benefits of ‘Brand Evolution’ (rebranding)?
There are a lot of great reasons to evolve a brand and reap positive outcomes from the effort, save that of famous rebranding flameouts…it usually works. Here are some top benefits that we have seen from working with our clients:
1. Brand Becomes More Contemporary
In many cases, “rebranding” has one simple goal: to keep your brand current. Whether it’s through a new look, feel or message, it’s critically important to appear as if the brand ‘lives’ in today’s world. Further, staying connected in various comms channels to real events in the customer’s life helps them identify with the brand.
2. Engaged With New Audiences
The biggest advantage to evolving your brand is the ability to reach new customers. When you focus on new products/aspects of your business and promote them, people will take notice. Rebranding can offer the stimulation your business needs to create new growth in a frantically changing marketplace.
3. Differentiated Messaging
Differentiating your brand shows potential clients that your services are unique—and that you’re the experts. At Pixaura, we use social listening and brand audit tools to understand where we can assimilate or dissimilate your message from the competitive landscape. An evolved brand stays active in the conversations that are happening at scale in your industry.
4. Showcase New Values
It’s hard to showcase how your company has grown when your branding doesn’t reflect that. If you’ve expanded to offer new products, grown to include more services, or set new goals for your business, around things like Social Impact or Community Involvement, then rebranding is a great way to show how your business is evolving.
5. It’s All About the Bottom Line
Evolving your brand will not only impact your overall inbound strategy, but it will bring your organization more awareness and ultimately a more filled pipeline to convert and close business. Reaching new potential clients, standing out from your competitors, showcasing your expertise, and expanding the influence and reach of your products and services are all effective ways to increase your profits just by evolving your brand.