A strong brand is essential for a successful business. A strong brand increases the likelihood that your customers will select your product or service over your competitors. Strong brands attract more customers who are ready to pay more and buy more frequently at a lower cost per asset. Recognising the significance of rebranding is essential to running a successful business. Failure to see the significance might cost you, consumers. So, what makes it such a vital aspect of running a business?

What is rebranding?

In the words of The Economist, rebranding is “the process of changing the corporate image of an organisation. It is a market strategy of giving a new name, symbol, or change in design for an already-established brand. The idea behind rebranding is to create a different identity for a brand, from its competitors, in the market”. Changing, enhancing, and adjusting your present brand strategy is essentially what it is.

What makes a successful brand strategy?

Your brand strategy is more than simply your logo or company name. It is your consumers’ impression of who you are and what you do. Though developing a brand strategy might be complicated, it is easier than you think when you thoroughly understand how you want your company to be perceived. A solid value proposition, obvious enthusiasm, inventive thinking, consistency, and great target audience understanding are all characteristics of a successful brand strategy. Ultimately, successful branding is an art, the art of developing your company’s brand.

Signs you should consider rebranding

Knowing when you need to rebrand may be difficult, which is why we have compiled a list of signs that it’s time to rebrand. 

• Your brand name no longer reflects your brand vision
• You’re failing to differentiate yourself from your competition
• Your brand strategy has become overly complicated
• You feel like you’ve outgrown your brand
• You’re struggling to sell your products/services
• You want to appeal to a new audience
• You are not getting regular interaction 
• You have attracted the wrong demographic

How Can Humana Help You?

Humana is a local marketing company based in Yorkshire that focuses on improving human relations and connections. Our office in Doncaster actively helps and contributes to the local community with marketing plans, rebranding, and more. For inquiries regarding creating a digital marketing campaign, get in touch by filling out our form! Alternatively, follow our Instagram to stay up to date.