Why and when should a business rebrand?

Google's rebranding back in 2015 created an enormous amount of media coverage. To many observers, the unveiling of a new logo was the main news. According to Google, the new logo was a cosmetic makeover for the mobile generation. The design of a simplified logo was to be more legible on the smallest of screens, such as smartwatches.

However, a brand is far more than a logo. There are deeper reasons behind the rebranding. It is worth noting that the rebranding was also part of a vast company restructuring. Google was becoming part of a new company called Alphabet. 
This was, without doubt, the most significant structural change in Google’s history.

The new brand identity launch was also to convey profound changes within Google.

When you rebrand, you make a strong statement of your intent of staying relevant in an evolving marketplace. It shows the world you mean business.
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The long-term survival of any business is directly linked to its ability to adapt to changes in its marketplace and of its clients' changing expectations. 

Change is at the core of why companies rebrand. Change can happen in two places: change within the business or change outside the business such as within the marketplace.

The first and most obvious reason for a rebranding is internal changes: when a business decides to change its focus, product line or services and needs to communicate this to the world. 

The second reason for a rebranding is that the marketplace has changed so drastically that the business’ brand has become so dated and irrelevant that it creates a negative perception of the business. 

At Acacia, we often see companies with great products and services who haven't nurtured their brand regularly. As a result, their brand has slowly become irrelevant, and they didn't pick up on this gradual shift.

This is because business results stay satisfactory for a period before suddenly getting worse, and often the reasons are hard to pinpoint.
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Like an overgrown garden, once a brand has been left unattended for too long, it will take lots of efforts and resources to revive it.​
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The solution to this is simple: in the same way that it is good business practice to regularly review your financial results, so should you be regularly reviewing your brand's relevance in the marketplace. 

Ask yourself: what is your brand’s visibility in today’s marketplace? Is it still relevant to our audience? Are competitors slowly overtaking you?

To help to find out answers to these questions join us on 27th September 2018 at Acacia's 'Accelerate your growth' seminar. Click here for more information and secure booking via Eventbrite.