Rebranding is more about revisiting brand identity to upgrade it and less about new logos and colour schemes.
As labour-intensive and expensive rebranding exercises are, they aim to fundamentally analyse the purpose behind a brand’s existence in the market. Along with representing how the company has evolved over time, a rebrand must convey what the company aspires to achieve in the future.
Identify the right time to launch a new version of the brand. This will help brands decide whether they need a complete overhaul, or just a facelift. Along with marketers, companies must involve other departments and team members in rebranding to make the process a company-wide effort.
By reimagining brand purpose, companies can adopt a distinct set of qualities and values that help differentiate the brand among competitors. For instance, Sharesies went from being a “nonpretentious” app, to an approachable banking service provider.
[6 minute read]