Brand Refresh, Rebranding –– it all sounds about the same right? but what are the key differences?
Whether you're a start-up, a small business, or a well-established business, branding is critical. If you don't have design experience, it's often easy to get confused when you see terms like Brand Refresh and Rebranding –– these are marketing terms. However, the differences between the two can often be overlooked as each business's marketing goals are different.
Brand Refresh focuses on aesthetics. It allows you to adopt a fresher logo, color palette, font, and update marketing materials. The goal here is to make your brand more appealing to your current audience. You can show off the current marketing strategies that your business has put in place after doing so. If you don't evolve your brand, you will end up losing your competitive edge as your competitors are continually iterating and improving.
Rebranding, on the other hand, is all about creating a whole new identity for your brand – this means tearing down the brand that you've spent years building and starting with a clean slate. There are many reasons why a business might want to rebrand. The most common reason businesses choose to Rebrand is to influence the perception of a product or a service that appeals to a customer's existing needs or a whole new set of customers. Rebranding is often considered when a company has been around for a long time and has a reputation. In this case, the company will spend money to make changes that will make them more recognizable and more appealing to consumers.
When evaluating your marketing strategies, you should make sure that you know what the general public thinks about your company. This way, you can work towards choosing the marketing tactic that's right for your business. Second, you should look into how well people's opinion has received your brand. People will always give their opinion and ideas on anything and everything. Therefore, when it comes to your brand, you want to listen to your customers. By this point, I think we understand that a good brand refresh strategy requires a lot less risk than a total overhaul.
Let's get into when is a good time for a Brand Refresh Strategy:
It's time to infuse your business with new vitality
You want to preserve the integrity of your brand
You want to ensure your business keeps up with the ever-changing marketplace
You want to reach new customers
Now, let's focus on when businesses can consider a Rebranding strategy:
You brand needs to evolve because the competition is growing
Your audience is changing
You have a desire to market new services and products
Your current marketing methods are outdated and aren't working out anymore
Whether you are looking into Brand Refresh or Rebranding, there are several things to look consider. Both methods have their advantages and disadvantages, so it is always good to discuss them thoroughly with a professional, especially if you're already an established brand name because it can be costly.