In today’s crowded and connected world, a brand is what stands out. Fortunately, there are many ways to do that and reinvent a business. A company might need to change its appearance or brand image for a number of reasons. For instance, it may want to increase visibility as a company or product, or create a more professional perception. Or it might want to update its branding to reflect changes in the company and products, or to shake things up because it’s ready for a fresh start.
That’s why marketers and business leaders must know about rebranding and brand evolution. There’s a difference. So, training is always vital to stay ahead. Perhaps you’re new to marketing, or you’re already studying a relevant course, such as a masters in business analytics which equips you with the skills and knowledge needed to make better data-driven decisions when it comes to your campaigns. At Aston University, you will be able to gain a strong business acumen and a platform to succeed within your chosen career. Whatever the case, let’s explore these concepts and determine which is right for your business.
What is rebranding?
Let’s start with the question, what is rebranding? Rebranding is about creating a fresh start and making people notice your company. Generally, rebranding changes your company image or brand to create a new perception. While rebranding is often used interchangeably with brand evolution, there’s a difference between the two terms. In some cases, rebranding can include a name change.
So, rebranding can include several activities. For instance, it could involve the change of a brand’s name, visual elements or message to create a new identity. It can happen as part of a strategic change or under outside circumstances. An example of a company that rebranded for a strategic purpose is Virgin. Before rebranding, the company was called Virgin Records. However, it rebranded to Virgin to encompass more elements of its brand, such as its radio station.
Rebranding is a great way to make a big change to your company’s brand. However, it’s important to note that rebranding is a full-scale process that includes more than just your logo. Again, rebranding may also include a new company name, product name, and also a new website.
What is brand evolution?
Brand evolution is a quieter, more subtle change than rebranding. The best way to explain it is to compare it to the human aging process. While rebranding is about a complete overhaul of your brand, brand evolution is the gradual change that takes place over time. With brand evolution, you would make subtle adjustments to your existing branding to keep it current, relevant and appropriate for your audiences and customers.
Brand evolution is gradual and can happen over time as you evolve and grow as a business. It’s a subtle process of improving images, adjusting colors and fonts, and adding materials and messages to create a more cohesive vision. In short, companies undergo brand evolutions to keep the brand fresh and relevant. An example of a company that evolved its branding is Starbucks. The coffee chain has gradually changed the color of its logo and the font used for its name.
These changes weren’t a total rebrand but an evolution of the Starbucks branding as a company. So, brand evolution is a great way to freshen your company’s image without drastic changes. As a result, you can evolve your logo or message without redoing everything from scratch. Brand evolution is a great way to keep your brand relevant while honoring your original brand values.
How to tell what’s right for your business
Let’s say that you’re part of a business and looking to either rebrand or do a brand evolution. Which one’s suitable for your situation? All you have to do is go back to basics and keep it simple. While brand evolution is great for keeping your company fresh, rebranding is not as drastic of a change. With the rebranding, you’ll completely change your company’s name, messaging and visual elements.
On the other hand, brand evolution is a more gradual process that allows you to make small changes over time. For example, you might tweak the colors or change the messaging a bit. If you’re looking for a drastic change, then rebranding may be your best approach. However, if you have a brand and only want to make subtle shifts, then brand evolution is your likely path.
Rebuilding your brand
As you know, brands constantly evolve. Also, the most successful brands continually reevaluate themselves and look to change their image and product offerings. Staying fresh and relevant is vital when consumers expect you to keep up. As a result, rebranding and brand evolution benefit companies when done well. They help create excitement around a company’s narrative, and they also offer consumers innovation and new choices.
A great example of a brand that went through a significant transformation is Nike. In the 1990s, the brand was all about fitness and fitness clothing, not fashion. However, some years ago, Nike began transforming its brand and focusing on style. As a result, it partnered with famous designers and athletes and launched bold fashion campaigns. In turn, Nike’s sales increased, and the company gained more customers interested in its products.
The face of your company
If rebranding or brand evolution is the right decision for your business, you might wonder why and how to rebuild your brand. The first step to rebranding is determining your goals and targets for the rebranding process. Far too many companies dive straight into designing new logos and visuals without any real plan or purpose. find out why you need to rebrand and what you want to achieve. For rebranding, you should also know what you want your customers to feel about your company or product. Therefore, understanding your aims is the only way to see if you have succeeded with your rebranding efforts.
Remember, your brand is the face of your company. It draws in new customers and helps keep your current clients returning. That’s why choosing the right rebranding or brand evolution strategy for your company is essential. Both rebranding and brand evolution are processes that take considerable thought, and to ensure that either approach is successful, you want to take the time to do it right. In doing so, you will achieve great results for your company and your customers.