At a certain stage in the branding journey, you will need to renew the identity of the brand or rebranding identity which is called Rebranding. It is a way out of the old stereotype and keeps up with the times, so enterprises and brands need to change their identity every seven or ten years.
Rebranding identity is a change in the reworking of all aspects of visual identity from "slogans, colours, photography." Others, in some cases such changes include changing the name of the label or company as well, all with the aim of developing the brand identity and making it distinct among competitors firmly in the minds of consumers.
What is rebranding identity?
It is a marketing initiative in which the form and story of the brand changed, for the purpose of influencing the target audience, and the approach of this initiative is to reshape the way in which the label or product is displayed; It includes renaming the brand or reinventing everything from the brand name, visual identity and everything related to the marketing process.
3 types of brand renaming
1. " Brand Refresh "
This type depends on the current brand update; This update is based on logo and image renewal, and this update is applied to all printed materials, websites, retail environments, and packaging design.
2- Brand Merger "
This type of branding is combined between two or more branding platforms into one, and this situation hinders the company or enterprise from undergoing new management, to come into the form of merging two logos into one image.
3- Full Rebrand "
This type is done when the brand is completely rebranded so that it has a new purpose and approach, and this occurs as a result of a shift in the company's leadership position or a change in products or services, or in the event of an enterprise expansion in another sector.
This type may be resorted to when the current brand fails to communicate with its target audience and reach its fullest potential, it helps to re-establish that brand's image in the market and connects it to its audience.
Reasons for rebranding
The motivation for the rebranding identity process is often for obvious and important reasons that may later benefit the brand, the most important reasons:
1. When merging, buying, or separating, which requires a change of trademark immediately.
2. Create a modern brand to keep abreast of the times and customer requirements.
3- Internationalisation of the brand, where it is used internationally.
Changing the market is one of the main reasons for changing the brand's identity, in which the sale of new products or services to a different audience is targeted.
5- To change the negative image of the brand in front of the consumer audience, whether due to an attack on the brand or the existence of quality problems, the renaming helps to gain a new place in the target audience and build a good image for them.
6. Development is a reason for changing identity, and the reason is that its new style is similar to another brand competing in the market.
7. There is a change in the price of the mark, the most appropriate solution for it is to reconsider changing the brand identity.
8. Increasing the value of the brand in the competitive market is a reason for rebranding identity to add additional value to it.
The importance of changing the brand identity
Now we live in a world of continuous development; So companies and brands need constant changes to keep pace with those developments that add value and attract more customers, and the importance of rebranding is: -
- Increase the brand's opportunity to expand its customer base and reach a new audience, focusing on its mission, vision and delivery properly.
- Helping to rebranding, contributing to greater customer confidence and attraction; As a result of meeting their needs with continuous development.
- Improve brand visibility and comment with customers' minds, during the presentation of an attractive story or video during the rebranding.
Benefits of rebranding
rebranding identity of the brand is one of the most important investments to be made properly, so as to produce good returns over the years, the benefits include: -
1- Attracting more customers, the brand search is an essential part of the rebranding, helping to identify customers who are compatible with the brand's purpose.
2. The possibility of raising prices, as a result of the renaming of the trademark that has led to the reinstatement of the value placed by customers in the trademark's offers.
3. Assist in clearly displaying key features including competitive advantage, which is one of the most valuable benefits of rebranding.
4. Increase the marketing efficiency of the brand, and better understand the target audience.
Attracting good candidates who will become passionate employees, and contribute positively to the company's culture, thereby enhancing trust with customers and all company members.
6. The brand becomes highly valued when sold, and is one of the most valuable long-term benefits of rebranding
Risk of rebranding
The rebranding identity certainly makes a milestone in its history and brings benefits, and there are many reasons for rebranding, that it may face some risk and ultimately fail.
One of the most important risks to be taken into account to avoid: -