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With one of the top 50 largest companies in the world (Google) unveiling their redesigned logo this month, it seems like an appropriate time to talk about rebranding!
Rebranding is a normal part of any company’s life. There comes a time for every company to freshen up their look—we’ve seen major companies going through a rebranding process including Coke, Nike, Walmart, Apple, and most recently Google. However, it’s important to note that rebranding is a big process, and a costly one. It doesn’t happen overnight and companies should make sure they’re ready for it and doing it for the right reason, so it is actually beneficial to the business.
Here are three reasons why it may be time for you to rebrand your business:
You are transforming your offerings. Have you always offered purely physical products but now you’re adding digital services? If you’re finding your business has changed its offerings in a dramatic way, rebranding might be a good idea! This will ensure that you are accurately portraying your brand’s products or services.
You are no longer reaching your target market. Regardless of the products or services you provide, the market is constantly evolving. Tactics that your business used a few years ago may not be yielding the same results today. There are many reasons why you could be failing to reach your target market—by identifying the reason, you can address it as part of your rebranding.
Your logo design has become outdated. Since the market is always changing, your logo may no longer seem as attractive as when it was first created. This doesn’t mean that you should change your logo every time there is a new trend, but you should keep up with the times. Google and Hersey’s are both examples of companies that recently gave a facelift to their logos. Although they didn’t make huge changes in their rebranding processes, they changed enough to keep up with a current trend; both changing their typography to flat, matte, san serif fonts.
Rebranding is a big deal and it takes time and a solid strategy to make sure you’re doing it right. If none of the reasons mentioned above apply to your business, you’ll still want to update and rebrand every 10 years or so to stay relevant in your market.