Why Rebranding is Powerful in Today’s Post Pandemic World
In today’s post-pandemic world, brands need to stand out for the right reasons and with the right Sentiments. We are seeing an increasing number of brands who are using rebranding as a strategy to re-enter the marketplace they were already in and reignite relationships with lapsed consumers, as well as attract new ones.
However, rebranding can also be a taboo topic, especially when many associates the word with negativity, failure or a downturn. The good news is, when undertaken correctly, rebranding can be the difference in finding market success and opportunities to grow your business.
Considering a Rebrand? Let’s have a look at the opportunities for when a brand should consider rebranding.
Rebuild their Reputation
Sometimes a brand may want to move away from controversy, bad public relations or is in the process of crisis management. Whatever the reason, rebranding can provide the fresh start that a brand needs to rebuild its reputation.
Acquisitions or Mergers
Rebranding is the ideal way to present a new face of the business when there are changes in company ownership or under new management. It can be perceived as a positive and progressive move, reigniting interest, and excitement among clients, suppliers and prospects.
If you feel that your brand is not reaching your intended audience (or attracting the wrong customers), or you want to expand the demographic such as targeting a younger generation, rebranding can help you engage new customers, propel your business, and break away from the existing image the market has of your brand.
Here are some good examples of rebranding in recent years –
WISE – with over 10 million users and rebranding from TransferWise, the new brand “Wise” aims to broaden its focus beyond multi-currency money transfers. Their statement is “New name, same great account. We changed our name to Wise — because we’re so much more than transfers.” It is a smart move to drop the word “transfer” to show that they are now offering new international banking features, while still maintaining the signature logo and design.
META – one of the biggest rebranding of the past year, META is Facebook’s new parent company brand. The Meta brand allows Facebook to be part of a larger ‘metaverse’, offering a seamless social space and immersive experience for users to connect globally. The Meta brand encompasses all of Facebook’s apps including Messenger, Instagram, and Whatsapp, and will focus on developing a new branch of the business in augmented and virtual reality platforms – Horizon.
Is rebranding for you?
It is important to note, however, that rebranding for the sake of rebranding or because you are bored with your brand is a no-no – unless you go all in and use it as a strategic overhaul to reposition your business in the marketplace.Branding is more than just identifying products and services, it connects people to certain lifestyles, values, and worldviews. It should tell your brand’s story – if you think of it this way, there is a lot to consider when you make changes to something so fundamental to your business.
It is essential to also consider other factors such as technology, culture, environment, and world events (like a pandemic) when it comes to deciding whether you should rebrand. Is it worth the financial investment? Is it minimal compared to the loss of sales and market share that could come from a rebrand? These are questions you should ask before going forward with rebranding.
Working with Brand Design and Rebranding Agency Sydney
Here at Brand for Brands, we are specialists in all things branding and can help you rebuild your new brand to tell your story. Stella Gianotto, our lead branding expert has personally developed over 1000 brands that have received widespread recognition on public platforms. She works with brands to clearly define their point of difference and communicate this, whilst still considering the behaviors of your consumers. If you are considering a rebrand for your business, contact us today to get started along the right path.