1. To remain relevant. Today's business environment is crowded which gives ever-increasing power to the consumer. It also makes it more and more difficult to keep your brand relevant, and to make sure that customers keep choosing your brand. A good example of a company that may need to rebrand to remain relevant is a technology company whose name references an out-of-date term. If your company is in a similar situation, you may decide that the best way to remain relevant to current and prospective customers is to rebrand.
2. New product or service launch. You may decide to rebrand your company in order to demonstrate a competitive advantage that your new product or service brings to your business. Product launches are exciting for everyone involved and can really put a product on course for continued success when done correctly. Since you will already be printing new marketing materials including media kits, brochures, sell sheets, etc, you may decide it is the right time to introduce a new brand as well. Make sure you provide a consistent message in all of your materials and that your product is positioned effectively. If you are considering a product launch, please read our article "Ready, Set, Launch"
3. Expansion. If your company is merging or acquiring a new business or have simply outgrown the current brand, you may decide to rebrand to more effectively communicate to your current and prospective customers your size and abilities.
4. Inconsistent marketing materials and messaging. While the decision to rebrand can be difficult, often times the improved image helps the business attract attention and new customers. If your current marketing materials look like they could be for a variety of different companies because the look, colors and message are all different, you may want to basically start over with a new brand that can be consistently carried throughout all of your materials.
If you would like additional information on rebranding a business, please contact us at www.BuddinghAssociates.com and read our article "Rebranding To Stay Relevant"