It’s no secret that proper branding is a necessary attribute of a successful business. As time goes on, though, you’ll likely reach a point where you need to make a decision about the direction your brand is heading.
This often involves deciding between a rebrand vs brand evolution, and the choices aren’t always obvious.
Not sure where to start? Don’t worry, we’ve got you covered.
Let’s take a look at everything you need to know.
What’s The Difference Between The Two?
Although these terms may sound similar, they have key differences that you need to be aware of. Otherwise, you may find yourself heading down the wrong path Due to a misconception you had about what it in tails.
Let’s briefly explore both terms.
As the name suggests, a rebrand occurs when a business decides to drastically change how it presents itself to its audience.
For example, a company that was once very casual may now establish itself in a more authoritative way in order to be taken more seriously by its audience.
In many cases, a rebrand is formally announced by the company itself and also serves as a turning point in the business’s timeline. A rebrand is also frequently accompanied by a new logo, marketing collateral, etc.
It’s important to note that rebranding is more or less a sort of ‘reset button’ for your business and isn’t something that should occur on a regular basis. Otherwise, you may find that you isolate the demographic you were beginning to develop a connection with.
In contrast, brand evolution occurs on a much smaller scale. It involves making slight changes to the way your company interacts with its customers and presents itself.
This often includes cleaning up the copy on your website, tweaking your customer support standards, and learning from the feedback that your audience gives. Since these changes occur much more slowly, it may take a while to see any differences in performance.
But, it will also prevent you from having to revamp your entire image.
What Benefits Do They Provide?
Both methods offer plenty of benefits to the company and each can have a strong impact over time.
A rebrand will allow you to not only reshape the way your company brands itself but also detach itself from the past. This is particularly important if the early years of your company involved situations that damaged your reputation.
For example, it’s not impossible that a disagreement with a former client (or competitor) leads to a reputation attack. In some cases, it may be easier to rebrand entirely as opposed to trying to control the damage.
Rebranding can also help your company feel more contemporary to your audience, which is an important attribute in many different industries.
Brand evolution allows you to react to current industry trends, such as design choices, customer needs, etc. Over time, you’ll refine your company’s weaknesses until they become on-par with its strengths.
As previously mentioned, you also won’t need to rework your company’s entire image. This will help you stay mote recognizable to your audience and prevent you from losing any customers in pursuit of new ones.
How Do I Know Which Is Right?
Even if you have a thorough understanding of both topics, it can still be difficult to determine which is the right decision for your current situation. Fortunately, there’s a handful of information that you can keep in mind to help you make your decision.
Let’s take a look.
You Should Rebrand If…
You want to rebuild your company’s branding from the ground up. This means abandoning your former brand voice and appearance in order to establish a more accurate image of your company.
This is particularly useful if your main intent is to change the current perception of your brand to one that’s more positive.
Sometimes, a company’s target demographic ay change entirely as time goes on. This is a situation that clearly calls for a rebrand over brand evolution.
You Should Focus on Brand Evolution If…
You only need to make small improvements to your company. For example, you may want to improve your overall client experience by making minor changes to the way your company operates.
Brand evolution is also the superior option if your brand already feels contemporary for your industry. In this situation, rebranding wouldn’t be able to take you much further than you already are.
Brand evolution will also help you stand out from your competitors, as you’ll be able to pinpoint the areas that need improvement to help you accomplish this. For instance, you can analyze what your competitors are doing better and then make adjustments to help you exceed what they’re able to offer your audience.
If You Still Can’t Decide…
There’s still hope!
One of the most efficient ways to help you narrow down your choice is by asking your target audience what they think. If many say that your brand feels outdated, doesn’t stand out enough, etc., then a rebrand might be in order.
If they’re mostly satisfied but only have a few adjustments they’d like you to make, brand evolution is the way to go.
Deciding Between a Rebrand vs Brand Evolution Can Seem Difficult
But it doesn’t have to be.
With the above information about a rebrand vs brand evolution in mind, you’ll be well on your way toward making the decisions that are best for you and your business.
Want to learn more about how we can help? Feel free to get in touch with us today to see what we can do.