Rebranding can seem like quite the endeavour, but the commercial benefits can be just as significant. So when should a company rebrand? There’s no right or wrong time, but it’s important to make sure you’re rebranding for the right reasons.
Whatever the motive, refreshing your brand’s identity should be a diligently thought out process, whether it’s a full-scale overhaul or just a few tweaks. Here are four common motivations behind rebranding:
Staying current is one of the most common motives behind rebranding efforts. As trends change and develop, your company’s image can begin to seem outdated. Revamping your brand identity can help your business stay relevant.
Merger or takeover
Mergers, demergers, and acquisitions can result in significant organisational changes. This often calls for immediate rebranding in order to make the change visible to the target market. After a merger or acquisition, the new company may take on the branding of one of the parties, such as AT&T’s 2015 acquisition of DirecTV. Alternatively, the new entity may opt to develop an entirely new brand.
Sometimes you’re just too close to the competition. If your branding is even similar to that of a competitor, potential clients may get confused. They’re definitely less likely to remember you. Rebranding gives you a chance to stand out from the crowd and, while it’s important to keep in mind what your target audience is looking for, don’t be afraid to go in a different direction to your competitors.
Sometimes a business does better than expected, resulting in growth and expansion into new markets. As your business grows, it’s important to keep your identity in line with who you are and where you are.
When you update your brand identity, you’ll want to apply the new branding to all your business assets and materials. A huge part of this is your internal and external business documents, such as reports, letters, press releases, and marketing literature. That means it’s time to update your Microsoft Office templates. If you’re considering rebranding and need help updating or creating Microsoft Office templates, get in touch with our document formatting experts today to see what we can do for you.
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