How Often Should Companies Rebrand? 5 Benefits of Rebranding

Estimated reading time: 6 minutes

Rebranding a business can be a long and expensive process. As a result, many are left wondering, how often should companies rebrand to make it worth the money?

The bottom line is that rebranding a business will always be worth the money, providing it’s done properly. Here are 5 benefits to rebranding a business and when (and why) you should do it.

What is Rebranding?

Simply put, rebranding is the process of a company changing its customer-facing image. This might include designing a new logo, changing the website color scheme, and many other aspects.

A company’s image is called it’s brand. Over time, brands need to change to reflect the business and its customers. This is where rebranding comes in.

How Often Should Companies Rebrand?

A company should rebrand every 7-10 years. This is long enough for the previous branding to feel outdated, as the industry changes quite quickly. Whether it’s trendy new colors, advances in web design, or something else, a lot can happen in 10 years.

But why would a company want to rebrand? In short, it gives the business a chance to create a new identity and refresh its public image. Of course, it doesn’t need to be a major overhaul at this time. Instead, you could introduce smaller changes more regularly.

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5 Benefits to Rebranding a Business

The benefits of rebranding a business are surprisingly diverse. Here are the 5 most important that comes from a company completely changing its image.

1. Attract new customers

The main reason why a company would rebrand is to attract new customers. The link between branding and customers is simpler than you might think.

A business that’s kept the same image for a long time will easily fade into the background because it’s not exciting. Plus, the rebranding process helps you find out what your customers want and how you can deliver it.

In turn, this leads to better customer loyalty and an expanded customer base.

2. Stand out from the competition

A company’s brand is what sets it apart from the competition. While big companies don’t need to do much to stand out, smaller businesses do. After all, it’s more competitive when you don’t have a clear story and history.

Rebranding involves finding out what makes you different from other businesses and building your image around that. Your goals and advantages might have changed since you set the business up, and rebranding can help change your image.

3. Makes marketing more efficient

Rebranding helps make marketing more efficient. If nothing else, you’ve just spent time developing a whole range of images and color schemes. This means you don’t need to create these every time you launch a marketing campaign.

But, rebranding also helps you to better understand your audience. In turn, this means you can focus your marketing and spend less as a result.

4. Improve your company’s value

Again, this point comes down to how strong a company’s brand image is. Coming up with a strong brand makes your company appear better and more cohesive among customers. This then makes them want to buy from you, making your business more valuable.

5. Helps you stay relevant

As mentioned, trends in branding and marketing change quickly. Think back a few years and you’ll probably remember website trends that companies no longer use. This is perhaps one of the most important benefits of branding: relevance.

If a customer visits your website and sees something they consider outdated, it can affect their perception of your company. After all, if your website looks old, what does that say about the services you offer?

But if they visit your website and see fresh, exciting new graphics, it shows you care about being relevant. In turn, it should make your services more appealing because it shows you pay attention.

People who rebrand a company

How to Rebrand a Small Business

The process of rebranding a small business can be challenging. The biggest issue is that it can be expensive. Not only does it take a lot of research, but it also means replacing all your customer-facing products.

So, how do you rebrand a small business?

Brand Research

The first step is to research what customers think of your brand and what they’d change. You can do this through written feedback or in-person interviews. It depends on how much time and money you have.

If you choose to do interviews, make sure you turn them into written documents using automatic transcription software. It means everyone involved in the rebranding effort has access to the information whenever they need it.

Designing Brand Materials

The next step in the rebranding process is to design your new brand materials. This should be informed by your customer research. For example, if customers tell you they like certain parts of your current brand, think about keeping them.

You’ll need to try new color schemes for your website and new logo ideas. Think about what sets you apart from the competition and make sure this is part of your brand ideas.

This step can be long and expensive, especially if you don’t have a team of designers. If you need to hire freelancers, be prepared to spend a lot of money and sit in a lot of meetings. Of course, you should already have a clear rebranding budget for your company.

How to Launch a New Brand?

The final step is to launch your new brand. It usually starts with relaunching a website, as that’s what most customers use. But you’ll also need to change your social media profiles and physical content, too.blank

Final Thoughts on Rebranding a Business

The steps for rebranding a business aren’t complicated, but they can take a long time. You’ll sit through a lot of meetings, so make sure you use Transkriptor’s automatic transcription software to turn them into notes.

It uses AI to listen and convert speech into text, and automatically timestamps everything. Better yet, you can try it for free and you’ll find we’re 98% cheaper than the competition.