On average, a company rebrands every 7-10 years, whilst they may have a refresh every 3-5 years. But why do they do it?
Branding is more than just a logo. It’s rooted in your values and proposition. Your branding affects how you are perceived by your customers, investors, and even your employees. It’s the total experience that someone has with your brand, impacting how you stand out in the marketplace and how you connect with your target audience. Inevitably, as the years go by, customers’ needs change and competition intensifies, and it may be time to revisit your brand to ensure that it still resonates in today’s world. In this blog, we’ll explore why companies choose to rebrand or refresh their brand and the distinct benefits of each approach.
What is a rebrand vs. a brand refresh?
Rebrand: A complete overhaul of your company’s identity, including its visual elements (logo, colour palette, typography), tone of voice, messaging, and even your name or product offerings. This is essentially creating a new brand from the ground up.
Brand refresh: A more subtle update to an existing brand, refining elements like the logo, design or messaging, without fully abandoning the brand's established equity.
Now that we understand the difference, let’s dive into why you might choose one over the other.
Why would I need a complete rebrand?
A complete rebrand is often considered a bold move, signalling a company’s desire to shift its identity or market position fundamentally. Here are some common reasons why a company may opt for a full rebrand:
Mergers and acquisitions: When two companies merge or one acquires another, creating a unified brand that represents the new entity is often necessary. This helps to prevent confusion and unite stakeholders under one vision.
New market or audience: If the company is expanding into a completely new market or demographic, rebranding can help position the brand in a way that resonates better with its new audience.
Negative reputation: Sometimes, a company might need a fresh start due to scandals or persistent negative associations with its old brand. A complete rebrand can distance the business from its troubled past.
Outdated image: Brands that have been around for decades might appear out of touch or irrelevant to modern consumers. A full rebrand helps rejuvenate the company’s image.
Change in business model or mission: If a company evolves its core product offerings or pivots to a new mission, the old brand might no longer fit. Rebranding allows the company to align its identity with its new direction.
What are the benefits?
A complete rebrand is often a transformational process for a business, which can have some major benefits:
Attract a new audience: By revamping your brand, you can tailor your identity to attract a new, perhaps younger or more diverse customer base.
Escape a negative image: If your old brand was associated with past mistakes or controversies, a new brand provides the opportunity to reset public perception.
Increased market relevance: A rebrand enables you to realign your business with current trends, industry standards, and customer expectations.
Create a competitive edge: In highly saturated markets, a completely new look and feel can help you stand out and signal innovation.
Reinforce new values or offerings: A full rebrand allows you to highlight any shifts in your company’s core values, mission, or product line, creating a cohesive story that resonates with both new and existing customers.
Maybe I just need a refresh?
A brand refresh is often preferred when the company’s core identity is still strong, but minor updates are needed to stay relevant. Here are common situations where a brand refresh makes perfect sense:
Staying current: Trends in design and consumer preferences evolve, and refreshing elements like your logo or typography helps to keep the brand looking contemporary.
Minor shifts in audience: If your customer base is expanding or shifting slightly, but your brand still generally resonates, a refresh can tweak elements to appeal more broadly without alienating existing customers.
New competition: As new players enter the market, a subtle refresh can differentiate your brand from others and highlight what makes you unique.
Internal changes: A shift in leadership, vision, or internal culture might necessitate a brand refresh to reflect new goals or initiatives.
Product evolution: If your product has evolved, but your overall company message remains the same, a refresh can help to update the brand without completely rebranding.
What are the benefits?
A brand refresh, while less dramatic, can still have a significant positive impact. Here are some of the advantages:
Maintain brand equity: If your brand is already well-recognised, a refresh allows you to keep the elements that are working while updating the ones that aren’t.
Cost-effective: A refresh is typically less expensive than a complete rebrand, making it a more practical option for businesses that need a quick uplift.
Keep pace with trends: Updating your logo, fonts, colours, and messaging ensures your brand stays relevant without the need for a complete overhaul.
Signal growth: A refresh can signal to your customers and the market that your brand is evolving and staying on top of industry developments.
Re-engage existing customers: A subtle change in your branding can rekindle interest from your current customer base, making them excited about the direction your brand is headed without making them feel like you’re abandoning your roots.
Conclusion
Whether your business needs a complete rebrand or a brand refresh depends on your goals, the challenges you’re facing, and the changes in your market or audience. A full rebrand can be a powerful way to reposition your company, while a refresh helps you stay relevant without losing your existing brand equity. In either case, the benefits can be substantial, from improved customer perception to stronger market positioning and growth.
Understanding the nuances between these two approaches ensures that when the time comes, you make the right decision for your brand's future.
Whether you’re a new brand needing to establish your identity, or think your brand could do with a refresh, our strategy and creative experts at Logic+Magic work together to create successful brand identities that capture the hearts and minds of their audience and result in a memorable brand presence. We’d love to hear from you if you have a branding project you’d like to discuss.
Head of Creative
