Coca-Cola’s corporate logo has barely changed since the company was birthed in 1887, but that’s a rare exception. Organizations founded nearly a century later (Apple, Nike, Google, Starbucks) have all undergone more significant branding changes. A company rebrand can bring advantages, especially for evolving companies that have outgrown their image.
Many reasons can influence an organization to take on a rebranding initiative, including the following:
- Growth
The components that identify a brand may become antiquated and no longer represent what the growing company has become. Sometimes it’s a shift of the industry as a whole that requires a company rebrand. In either case, innovation and more subtle changes necessitate a brand overhaul. - Mergers and Acquisitions
Even companies that are bought and maintain their autonomy will require at least some brand tweaking, but when brands unify and morph into one, this is a case for a structured, comprehensive approach to rebranding. - Demographic Targeting
When launching a new product or service that targets a different audience than what the brand has traditionally catered to, the branding needs to appeal to that new demographic. - Crisis Management
In the unfortunate case where an organization needs to distance itself from something negative, a company rebrand can highlight significant change, shedding the negative perception.
Examples of Success
While even the smallest organizations can enjoy the positive effects of a company rebrand, some large brands offer a glimpse into how it is done right. LEGO was in financial trouble in the early 2000s when the popular children’s toy company rebranded by branching out digitally. The company went from recording a $220 million loss in 2004 to a $117 million profit in 2005. By 2015, the company had reached a revenue of $5.2 billion.
Another example of a successful rebranding is that of Old Spice, which prior to 2010 had slowly ebbed into being known as the brand of choice for grandfathers, or for people who wanted to smell like someone’s grandfather. To turn that image around, the company came up with humorous and memorable ads, including “the Man Your Man Could Smell Like” campaign, as well as effective social media content. Strong brand messaging that targeted a younger audience and a focus on innovative digital media proved to be a tour de force that captured a younger generation who became loyal customers. No longer relegated to older generations, Old Spice sales increased.
A successful rebranding is preceded by research into the target audience and their preferences. Everything from colors to fonts, logos to brand messaging voice, choosing the right channels for content placement to revitalizing the approach to advertising – having a professional on your side to assist with market research and consumer feedback is invaluable.
When you partner with SJC Marketing, you get a devoted team of experts ready to assist you with your company rebrand. Contact us and let’s talk about revitalizing your image.