Rebranding is both stressful and exciting for any company of any size. Whether your company is large or small, rebranding allows you to assert your dominance in your industry or even set yourself apart from your competitors. In order to be successful, though, it’s important to be as thorough as possible – and that means revamping more than just your logo. Though a logo is certainly important for a brand, it is not the only ingredient in the recipe for success.
What Do You Hope to Accomplish?
Before you can think about all the different ingredients that will go into your company’s rebranding efforts, there’s one big question to answer: why do you want to rebrand in the first place? There are many reasons, and some recent rebranding efforts from well-known companies point a few of them out.
- Old Spice discovered that 60% of the people buying their men’s body washes were women, so their rebranding efforts focused on a female audience. The result was 300% more website traffic and 200% more sales and subscribers.
- Dos Equis gained success with its “Most Interesting Beer in the World” campaign, which started in 1996. It became famous on a global scale, and while imported beer sales were down 4% across the US by 1999, sales of Dos Equis were actually up by 22% in that year.
- Subway was selling approximately $3 billion a year in 1998. The Jared Fogle rebranding campaign (though later fraught with backlash the company could not have anticipated) made the company relatable to its audience, raising Subway’s sales to $11 billion a year.
Ingredients to Perfect
Though your logo is important, it is not the only thing to consider when rebranding your company. As the examples above suggest, success is like a fine dish – it contains the right number of high-quality ingredients to make it delicious. These other ingredients may include:
- Your target audience. Your brand must appeal to the people who are actually buying your product. As the Old Spice story above suggests, you can double or even triple your traffic and sales by making sure your brand appeals to the right people.
- Focal points for interest. Dos Equis hit the nail on the head with this ingredient, and it’s especially important if your company is part of a saturated industry. Rebranding should include a point of interest that makes your company stand out, whether it’s a funny campaign like Dos Equis or something else that plays on emotions.
- Finally, when rebranding your company, make sure that people can relate to your company and what it stands for. For Subway, Jared Fogle was the “everyman” and someone who everyone could relate to. It propelled Subway forward, and despite the recent fallout with Jared, Subway is still far more prosperous today because of that campaign in the 90s.
Your logo gives an image to your brand, and it’s definitely an important part of your company’s image. However, there are other things to consider if you want your company to succeed. Your brand must appeal to the right audience, give them a focal point by piquing their interests, and be relatable in order to really become memorable. When all these ingredients are in place – and in just the right amounts – success will surely follow.