4 Reasons Rebranding Your Business Is Worth the Investment

In this age where customers get hyped up over new technologies, and their attention jumps from one brand to another, business owners should double their efforts to set a long-lasting impression for existing and new audiences.

Imagine your audience having all their choices in one screen. Then your business offers products or services wearing the same old business name or logo it has been using for almost a decade. They will probably scroll down to a more exciting-looking brand that leaves them every good reason to scroll back.

Whether you like it or not, the market changes. And it’s up to you if you are going to jump into the pool of trendy markets or keep your old branding.

What Does Rebranding Mean?

Business owners mistake these graphic representations as an additional cost or a face that they can put next to their business name. They have little to no idea what wonders branding can do to their business.

While rebranding is no secret to business owners, they would mostly underinvest and pay more attention to other campaigns, leaving their branding behind.

The reality here is if you have a larger organization, the decision to rebrand will take longer. Of course, you have to discuss what problems you need to resolve.

There are different decisions to discuss: such as the type of rebranding approach, your budget, or your sub-brands.

Should you source the campaign internally, or should you deal with a tech branding agency?

There is more than just the logo. You would also have to update your website, portfolio, and marketing materials.

If your business has been running for years, you haven’t considered rebranding once, or seriously think you need to rebrand, here is why it is always worth the investment.

1. Helps You Reach New Audience

You know your business has long proven worth. But there is probably a reason why you cannot attract new prospects. You know who needs your business. Sometimes, it only takes thorough research.

See, your business could not be as appealing as it was ten years ago. If you want to increase your sales, you must find a way to attract new customers. One, they probably know your brand. Sometimes, it only takes a catchy makeover to make their head turn.

Have you seen how Adidas had subtly changed its logo?

Adidas is now removing its name under the three stripes. Well, the three stripes are still the same. They just appear closer. You can still identify the brand without noticing the wordmark has been taken off.

And it seems the trend for keeping logos and names minimal and simple still rocks, especially for the young audience.

Even though the rebrand is taking place, as Adidas products with the old logo are being phased out, millennials would surely take pride in having these stripes printed on their garments. Actually, the move buzzed on Twitter. And the new logo is appearing more on their website. We cannot wait to see them in print.

2. Express New Goals, Vision, Innovations, and Values

A rebrand is your effort to show your audience that your business is growing and making progress. However, you can get busy with operations and marketing efforts, leaving your branding behind.

If your business has been making significant growth and undergoing a series of innovations, it is high time to keep your branding up. If your business is going to expand or has changed its mission and goals, your current logo and design are probably not fit to represent it.

When it comes to this subject, we cannot help not to talk about how Square changed its name to Block. And its logo? Into an interactive cube that playfully stretches from one direction to the other.

The futuristic logo in motion fits how the company sees itself as a fintech provider that aims to merge its existing businesses, including its cryptocurrency, into one block or brand.

3. Keep Up with the Trends and Get Ahead of Your Competitors

If you notice that your share in the market is decreasing, you have to find a way to know the cause. Today, it’s easy to enter a business that you will never know if some funky newcomer may take market shares subtly.

The challenge of going digital and growing your presence online is just as valuable as your rebranding strategy. If you do not pay attention to what’s clicking, you will lose your position in the market.

Look at how the 77-old ice cream company, Baskin Robbins, has changed its logo to catch the new gen's eye. It took the capital letters "B" and "R" out from the spherical frame and changed its font to a bolder and crisper look. With its blue-pink color switched to brown-pink, it intentionally tried to poke young hearts with its new minimalist and refreshing logo.

Minimalism is not so new in the last couple of years, but the trend is an eye-catcher to the digital audience. One reason: the minimalist design favors most mobile users for being simple — without the extras. Also, it adds elegance and grabs more attention, making your logo more unique.

4. Reduced Costs and Increased Sales

Rebranding causes exponential growth and ROI.

It boosts your marketing efforts while decreasing costs. When you have developed your ideal audience to convey your message, you will spend less effort sending scattershot messages.

When you know your audience well, you are serious about your marketing scale-up and you can always set up a campaign where they can relate. You run a more targeted approach. You reduce efforts on paperwork, and time in segmenting personas.

But wait!

Let us not forget that rebranding can also mess up your marketing efforts, and lose your potential customers overnight.

This is where most businesses fail. They thought they could hire a graphic designer and change website themes in a few days. Of course, you don't want to turn your efforts into a nightmare.

Do you know that General Motors wasted millions worth of GM genuine parts and ACDelco parts? Well, it’s all because of the goofed-up rebranding launch in late 2020, mixing the ACDelco parts’ new logo with the GM’s old logo in one packaging. Take note: the new GM logo was launched in January 2021.

You read it right. The multi-million rebranding campaign messed up the century-old automotive brand in the first month of its launch. And from the view of branding experts, the attempt to ditch the old trusted GM logo completely to a fresh-looking lowercase initials is a bit unnecessary and risky.

But it doesn’t mean a company cannot recover from a rebranding disaster. The new GM logo seems to be here for longer than we thought. If you have no idea how to start with rebranding, invest in a 12-week branding program with reliable tech branding experts to avoid getting lost.

Here’s the secret to making your investment worthwhile: set your goals clearly and plan them well. Identify the message you want to convey and know to who you want to send this message. And of course, get the right people to do the job.

After running your rebranding strategy effectively, you will gain new audiences and develop loyal customers.

You have no idea how your sales can grow exponentially after a successful rebrand.