When Is It Time For A Rebrand?

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When Is It Time For A Rebrand?

Category:MPB Blog

Many entrepreneurs and business owners believe that a company’s “brand” is simply the company’s name and logo. That’s not true.  A brand is more than a company’s name and logo.

It is true that the name and business logo are very important for a brand, so it’s important that both be strong. A good brand communicates what your company does and how well you do it. It also establishes trust and credibility with your customers, present and future. And because a brand evolves over time, many companies, including some of the most successful ones, rebrand.

MPB recently rolled out a rebrand.

Over the last 120 years or so MPB has only made a few brand changes. The 2019 rebrand campaign takes a bold step in a new direction. With the logo and tagline change, MPB Print & Sign Superstore is happy to reveal the new brand.

Stand out from the competition.

If your company name and or logo is generic and similar to that of other businesses, you’re hurting your brand.  A related problem occurs when you use stock art in your branding or marketing materials: You may be hurting your brand because everyone recognizes stock art when they see it, and those photos may turn up being used by your competitors.

This is where rebranding can showcase the things that make your company different and better.

Even the best companies change their brand identity. For example, did you know that Google started with the name “Backrub”?  Check out the many faces of the Apple logo.

Bring new life to outdated branding.

It’s possible that your Comic Sans or Brush Script font, flash-based website or 1990s color palette is dragging your brand down and making your business look outdated. What are you going to do? The answer is a rebrand.

Smart companies rebrand because they know that good design can make or break a business because they know they’ve outgrown their original mission. This is a common problem, so make sure your business name is not too narrow or literal.

Outgrow your poor reputation.

If your business is struggling to overcome a negative reputation, a rebrand can help consumers see you in a fresh new light.

Rebrand when your business evolves.

Sometimes, a business gets the opportunity to expand or target a new market. When that happens, it’s important to ensure that your new customers and prospects can connect with your brand.

6 things you should know to rebrand successfully

1. Understand your mission and values. Before you rebrand, it’s crucial that you clearly understand your company’s mission and values. Consider and assess what makes your company special. Why does your company exist, and what values does it have that are essential?

2. Develop a rebranding strategy that works with your existing branding. Many companies don’t have the luxury of starting from a clean slate. If you’re doing a partial rebrand, make sure to take the existing brand assets into account. A consistent brand helps increase the overall value of your company by reinforcing your position in the marketplace, attracting better quality customers with higher retention rates and raising the perceived value of your products or services …. In contrast, erratic, inconsistent behavior quickly leads to confusion and mistrust.

3. Consider the market and your competition. Before you rebrand, it is best to research what your competition does. Determine how you stand apart from your competitors. It’s vital that your new brand be fresh and relevant.

4. Collaborate with your team. Your brand may be one of your most important company assets, but just as valuable are the people that help grow your business every day.  Some of the best ideas and most valuable feedback come from departments you might not expect.

5. Manage the rebrand carefully. A rebrand is often a complex and lengthy endeavor. Without a careful plan of attack and a well-managed process, the rebrand can quickly go off the rails. Set deadlines and mitigate going down those pesky rabbit holes with a well thought-out project plan.

6. Launch your rebrand and tell the world. Even the most incredible rebrand is wasted if you never actually launch it. Make sure you plan your rebrand launch and be prepared to explain why you rebranded. Minimize the risk of customer confusion through a carefully planned launch that showcases the story behind the rebrand.

A rebrand is a declaration of your company’s commitment to upward growth. Change is never easy, but sometimes, as the song goes, a change will do you good. MPB Print & Sign Superstore is here to help you through your rebranding endeavor, Call us Today!