When is it a Good Idea to Rebrand your Company?
Doing a rebrand on a company is a major and risky undertaking, but it is still done with enough regularity to not be unheard-of.
In short, a rebrand is changing the style, feel or even the name of your brand, which is sort of like starting over and trying to find a whole new audience or customer base from scratch. This is a terrifying option for many brands, as losing all of their core customers among everyone else might mean the end of the brand in general.
However, sometimes a rebrand is very necessary in the following circumstances.
The first is when a brand has undergone a serious scandal that has been very public and has put the brand in an awful or embarrassing light. There are many scandals over the years that have critically injured major brands and after a rebrand they have come back to full strength. Another is when a brand is purchased by a major company, and they need to change their look and feel.
This is a bit safer, because they are being supported by the revenues of that major company until the public can catch up with the brand itself.