Reasons for rebranding - rebranding from HOLA Digital Agency (Dubai, Singapore, Hong Kong, Qatar, Moscow, Russia) Development Company: AI, Blockchain, IoT

But what if our brand doesn't live up to expectations? Maybe then it's time to change something by trying rebranding? When to rebrand? Find out in our article! HOLA Digital Agency - marketing and advertising agency - Dubai, Singapore, Hong Kong, Qatar, Moscow, Russia.

What is rebranding? Rebranding is a change in all or individual elements of a brand in order to achieve better sales results and increase the company's competitiveness. Sometimes this is a revolutionary change when new products enter the market. The rebranding process then means creating a new brand strategy and a new way of communicating with customers.

It also happens that rebranding comes down to only changing the name and logo of the company. This process should also be preceded by a comprehensive market research (if our company does not already have a recognizable brand).

However, simply “updating” the logo and changing its aesthetics cannot be called a rebranding. So recent changes, such as the redesign of the Google logo, are just a relatively minor lift. This does not change the fact that this kind of facelift brings about big changes associated with the labeling of products, offices or retail outlets, so this is also a serious decision.

Rebranding - Benefits and Threats - United Arab Emirates (UAE), Tokyo

Rebranding from HOLA Digital Agency can bring real benefits to your business:

• increase brand awareness,
• increase the competitiveness of the company,
• bring new products to the market,
• increase margin and turnover,
• improve the brand's status, for example, by transferring it to the premium segment.

Thus, effective rebranding can have a positive impact on the company's bottom line. Unfortunately, an ill-conceived rebranding process means huge costs associated with re-identifying products and points of sale. However, the biggest threat is the loss of customers who will no longer recognize the brand they are attached to.

When to rebrand?

The decision to rebrand must be very well thought out and backed up by credible research. Otherwise, the process can be counterproductive. Consider rebranding when:

Two companies merge with each other

When two companies merge, one of them can take over the other's brand or create a new identity. One brand was taken over by another. In such a situation, an intensive advertising campaign is necessary, as we risk losing customers who have been attached to a well-known brand. Therefore, it is always necessary to consider whether such a solution is beneficial. However, when two companies merge, rebranding is usually necessary. Its goal is to strengthen the brand and expand the offer and customer group. However, this must be done very carefully, based on a well-prepared strategy. Otherwise, it can turn against the company, which will lose customers.

When the name of the company is not remembered

The name of the company must be unique, not confused with the names of other companies, and easy to remember. It should be remembered that it must take root in the minds of the recipients, evoking the desired associations. There are many examples of companies that have changed their name (and of course the logo). This was adopted early in its existence by Google, whose first search engine was called BackRub. Google founders Larry Page and Sergey Brin decided to change the name because the word "Google" better expresses the mission of their company. The word "Google" comes from the mathematical term "googol", which means the number represented by the number 1 followed by 100 zeros. The new name was to refer to the mission of organizing the vast amount of information on the Internet through a search engine. In addition, it must be admitted that Google is a name that is easier to remember and which relates better to the rest of the company's services. "BackRub Drive" or "BackRub Documents" is quite difficult to imagine. The current eBay, which was originally called AuctionWeb, decided to do the same. Here the impetus came from the media, which so defined this auction. Admittedly, the change served the brand because the new name is easier to remember and shorter.

When the brand does not reflect the company's activities

As the company grows, it can expand its business or radically change it. In this case, the name may not correspond to the new company strategy and the proposed products. This is an obstacle to its development and can also mislead customers. An example of such a rebranding is Apple's name change, which may appear to be cosmetic, from Apple Computers to Apple Inc. We call this a cosmetic change because Apple was associated with the Apple name anyway. However, the company's full name has officially appeared in many places, and in 2007, Apple Computers CEO Steve Jobs announced that the company had been renamed Apple Incorporated. He justified this by saying that with the introduction of products such as the iPhone, Apple TV and iPod, the company ceased to be a purely computer company, but became involved in consumer electronics.