You might ask: is there a need for rebranding or a brand refresh when my company is doing well right now?
There are many reasons behind a brand refresh, and it is never easy to know with certainty that your company needs one.
Generally, an internal review should happen every 2 to 4 years. It is a good practice that evaluates if your branding is still well-aligned – presently and in the future.
Otherwise, here are some reasons and warning signs that it may be time for your company to do so.
Your Business Landscape Has Evolved
Businesses naturally progress by scaling up and offering more products and services to their customers.
First Health Singapore executed a brand refresh with STUDIO DAM when the multi-generational health and wellness brand diversified into lifestyle retail products.
Their refresh included a retouched logo and new packaging design to appear modern and inviting. Its logo design retains First Health’s core value of ensuring Health and Wellness for Every Family while accommodating for potential expansion of products, allowing room for more brand growth.
Investing in a brand refresh in conjunction with your business expansion not only better communicates the maturing of the brand, but also ensures that it stays relevant and fresh to consumers.
Your Industry is Rapidly Evolving
A brand refresh might occur more frequently for your company if its industry is prone to rapid developments with a shifting need for diversified services.
A prime example is Airbnb. They have continually responded to the changing trends within the travel industry and the growing desires of travellers, undergoing several brand refreshes to stay relevant. While keeping its core service as an accommodation booking platform, Airbnb broadened its branding and services to become a lifestyle brand.
Moving from just providing a place to stay to creating a sense of belonging anywhere in the world, Airbnb’s brand refresh addressed the needs of travellers – to experience parts of the world as a local would.
Their new logo and brand identity feel intimate and personal, with improvements to their brand colour, typeface, and website and app user interfaces.
Another similar example is the local Singaporean brand Grab, formerly GrabTaxi. They diversified their services to cater to the growing demands of consumers, offering different kinds of delivery services on top of their original private ride-hailing service. Consequently, the brand underwent a brand refresh that involved a logo redesign and an updated app experience.
In rapidly growing industries, timely brand refreshes allow brands to remain relevant and stay connected to their current and future customers, securing their place in the industry as a market leader.
Your Customer Needs Have Changed
It should be obvious by now that staying relevant to your consumer is essential.
As your business evolves, so do consumers. Their tastes, expectations, and beliefs change over time, and your business needs to anticipate these developments and adapt accordingly.
Otherwise, you may simply be expanding into a new market segment with consumers that prioritise different cultural values, user preferences, and expectations.
Ensuring that your branding accurately reflects the desired qualities of a new or changing demographic is vital for continued success.
Your Brand Reputation Has Taken a Hit
A Public Relations (PR) crisis can happen to any company, especially a highly successful one that receives massive public attention.
Engaging a branding expert or consulting agency to deal with such a crisis by facilitating a brand audit is beneficial. They provide insight into the public perception of your brand and evaluate the steps needed to improve.
For instance, many companies have faced public scrutiny and a dwindling customer base because they failed to meet the expectation of operating a sustainable and environmentally-friendly business. When this happens, a company could consult with a branding agency to collaborate in creating a sustainability roadmap to figure out solutions and make substantial changes to its business practices.
Such changes usually involve a brand refresh of some level. For instance, a branding or consulting agency can advise and design sustainable packaging. Marketing could come in the form of workshops and the introduction of environmental initiatives.
Choosing the right strategies to improve a company’s reputation is crucial to regaining trust and loyalty, and branding experts help in this area.
Your Business is Too Similar to Competitors
A sure way of knowing that your company needs a rebrand is if it sounds too similar to your competition. Common similarities are in brand names, brand positioning, and visual identities.
Generic values and literal branding can also cause an easily forgettable brand with no presence.
In competitive industries with businesses offering similar products and services, having good branding is necessary to distinguish yourself.
For instance, Brave Feats is a local student care centre that engaged STUDIO DAM for a rebrand to stand out from its competitors.
Formerly Hopscotch Student Care, Brave Feats renamed itself as such to reflect its mission – to champion every child’s uniqueness and journey toward uncovering their spark and achieving brave feats.
Their rebrand reflects a modern, relevant brand identity that encourages children and caregivers to perceive them as a nurturing, safe, and exciting space.
With so many competitors that provide after-school care in Singapore, Brave Feats’ rebrand highlights its unique selling point, setting them apart.
Conclusion: Facing Obstacles in Prioritising a Rebrand
If one or more of the signs above apply, it is likely time for a rebrand or brand refresh.
Consider approaching a branding and consulting agency for an expert opinion on the strategic steps to take. Know that rebranding is not simply a name or logo change but in-depth research and creative work to strengthen your unique selling points. It involves analysis of what has worked and what requires improvement and proposing a comprehensive strategy to improve your brand image, positioning, and value.
Rebranding can be arduous. But consulting a reliable branding agency to collaborate with is worthwhile, as it signifies growth and a commitment to fulfilling your customer needs and staying relevant.