Rebranding and repositioning are huge changes for any company to make. Has your business begun to veer off course? Do you need to increase sales? Does your company's reputation need a reset button? It may be time to start a new branding journey. Knowing whether to rebrand or reposition can be challenging, but this decision could be the start of a brand new business adventure for you and your team.
Rebranding
Rebranding is typically associated with the looks, or aesthetic of a brand. This strategy usually includes changing the brand elements such as a name, logo, tagline and/or fonts and icons. Rebranding is a logical next step for brands that have a misleading name, tarnished reputation, outdated graphics, unpopular slogan or any other imagery that no longer fits the company. Rebranding is best when a company no longer aligns with a particular image. While a rebrand can come after the launch of new products, it can also be used to highlight the company's current offerings. If the core products are great and the image needs some work, rebranding is the right strategic move.
Repositioning
While rebranding deals with outward factors like the overall brand image, repositioning deals with what's on the inside. A brand can be repositioned without changing its identity. Repositioning focuses on the customer perception of the brand relative to the major competitors. This usually involves changes in the brand promise and/or personality. A company should consider repositioning when major shifts are happening in the competitive landscape, heavily branded products are not performing, or the target market has changed. The end-goal of repositioning is to implement a major change in the target market's perceptions of the company's product offerings.
In summary, rebranding is an identity change. Repositioning is a change in the brand's promise and overall personality. Both repositioning and rebranding give you a chance to put your business front-and-center in the customer's mind. While making these changes can be difficult, rebranding and repositioning are two strategic moves that can be used to take your business to the next level.
