5 Signs It’s Time For a New Brand

You may have heard the saying “If it ain’t broke, don’t fix it.” After all, when it comes to branding, doing it right is a significant investment, both of time and resources. So how do you know when it’s time to change your brand into something new? Here are five common reasons that companies re-brand - and links to articles demonstrating real-life examples.

1. Mergers & Acquisitions
One of the most common reasons for a re-brand is when two or more companies decide to take the plunge and join together in organizational bliss. Whether one brand absorbs the other (ex: AT&T and Cingular) or a new brand is formed based on the attributes of all involved (ex: Region’s Bank) this organizational change gives the perfect reason to introduce a new brand.

2. Entering into a New Target Market
Often times, with expansion and growth comes the opportunity for new markets. These markets may be geographical (ex: ClearPointt) or expanded product or service offerings (ex: PowerMark and Donnelly Marketing).

3. Realign With Your Customer’s Perceptions
Jeff Bezos said “A brand is what people say about you when you’re not in the room.” Many times, an organization will re-brand so their image more accurately reflects their existing reputation. Some examples include name changes (such as Binny & Smith to Crayola or Federal Express to FedEx) but extend also to the look of your brand (ex: Dave’s Insanity Sauce)

4. Your Look Is Dated
Times are a changin’ - constantly. And for many firms, a brand simply needs to be refreshed to keep up with the changing culture and tastes of their target audience. Think of Coca-Cola and the numerous facelifts this brand icon has had.

5. United We Stand
Over time, when multiple product lines or service offerings are added a brand can become skewed and weak. As in the case of Saucony. As company President Richie Woodworth reported to Brandweek “What we really needed to do from a positioning and visual identity standpoint was … to tighten up what we were doing with the logo, and a build a strong, visual platform … [with] advertising that would tie [all of our products] together into one common thread.”

When organizations faced with these challenges focus on creating a brand that is aligned with their true needs, the results can be dramatic - often with increased awareness, customer loyalty and revenue.

Do you have a story of why and how you re-branded? Feel welcome to share it in the comments below.

This article was borrowed from Pivot Branding. They said it well and I wanted to share