Rebranding Alubra

Deciding to rebrand a company can be a daunting task. It’s similar to an individual deciding on a brand new haircut or a complete wardrobe makeover. There is no definitive answer as to when the time is right for a rebrand. Some companies wait decades between rebrands, while others redesign after just a few years. However, certain situations signal that it’s time to consider a rebrand. Let’s explore what these situations are:

Mergers

When two or more companies merge, a redesign is often necessary to showcase the best qualities from each individual company. The name is usually the starting point for the rebranding process. There are three ways a new name can be chosen after a merger:

Compound Name: Two names can be combined to form a new compound name, such as United Airlines and Continental Airlines becoming United.
Partial Name Change: Pieces of each company’s name can be taken to form a new name, as seen with Price Waterhouse and Coopers & Lybrand becoming PwC.
Fresh Name: An entirely new name can be created, like Verizon, which was formed from the merger of Bell Atlantic and GTE.
Acquisitions

When a company is acquired, a potential name change depends on the power of the involved companies. Some examples of notable company acquisitions include Procter & Gamble acquiring Gillette, Apple acquiring Siri, and Facebook acquiring Instagram. In some cases, the acquired company keeps its name, while in others, it gradually aligns with the acquiring company’s brand identity.

Change in Leadership

When there is a change in leadership, whether it’s a new CEO, marketing director, or editor-in-chief, a rebranding strategy can be devised to celebrate the change and maintain control of the company’s image. This is especially important if the company has had bad marketing or inconsistent messaging, which could lead to public perception taking an unintended direction.

Stay Relevant

As demographics and interests evolve, companies may need to rebrand to stay relevant. A prime example is MTV, which was successful among teens in the 80s and 90s. To remain appealing to younger generations, MTV conducted research, hired millennial influencers, and changed its image without altering its logo. TNT is another example, repositioning itself to target a younger, more masculine audience with multiple slogan and logo changes.

Mission Statement and Values

A clear and concise mission statement is essential for a company’s branding. Over time, as products and services evolve, a mission statement might need to be updated, leading to a rebrand. Airbnb, for instance, started as an app to help budget travelers find a spare couch to sleep on. As they expanded to include more upscale accommodations, they rebranded to fit their new mission of belonging anywhere.

Staying Ahead

To avoid falling behind or becoming forgotten, companies may undergo a rebrand to stay ahead of the game. Apple is a prime example, having changed its logo multiple times to keep up with the times and maintain its loyal customer base.

The 12 Steps to a Successful Rebrand
Reanalyze your company’s mission and values.
Reanalyze your ideal clients and target demographic.
Create a focus group to gather feedback from existing and potential clients.
Research the market to evaluate your company’s relevance.
Brainstorm ideas on how to renew your brand while staying relevant.
Rewrite your mission statement to reflect any changes.
Redesign your logo, considering multiple options.
Redesign all marketing materials to align with the new brand.
Recreate your brand style guide.
Redesign your website to match the new brand identity.
Inform your customers about the rebranding.
Relaunch your brand confidently with your new look.

When considering a rebrand, it’s important to take the necessary steps outlined in this blog. Whether it’s an entirely new name or a simple logo change, a well-executed rebranding strategy can help your company stay relevant, attract new customers, and maintain its image in a constantly evolving market.