Rebrand or Refresh? Decoding the Right Move
I've recently come across articles suggesting companies should refresh every 5 years or rebrand every 7 to 10 years. However, this one-size-fits-all approach doesn't quite hit the mark. Both rebranding and refreshing are strategic moves, but they serve different purposes and are driven by different factors. It's crucial to distinguish between these two concepts, as they're often mistakenly used interchangeably.
Rebranding: A Comprehensive Transformation
A rebrand is a substantial undertaking. It's not just about tweaking a logo or updating a website; it's a full-scale transformation. This involves overhauling the company's strategy, brand system, assets, naming, architecture, guidelines, and more. Rebrands are typically driven by major strategic moves or significant events.
Take our work with Weld North Education, a leader in North American education technology. As the company evolved, acquiring new services and businesses, it needed to clearly communicate its expanded ambitions and value to customers. This led to the creation of the Imagine Learning masterbrand. The rebrand included organizing the product portfolio and developing a strategy to support this new brand.
Rebrands are usually triggered by:
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Brand Refresh: Strategic Updates
A brand refresh is what many people mean when they talk about "rebranding." It's not about starting over; it's about making thoughtful updates to modernise, stay competitive, and enhance what already exists. It's a strategic move to keep your brand relevant, aligned with your values, and competitive in an ever-changing market.
Brand refreshes are often prompted by:
The Strategic Approach: Ultimately, decisions around rebranding or refreshing shouldn't be dictated by arbitrary timelines or fleeting trends. They should be informed by a deep understanding of your brand, the market, and the lifecycle of your category. The key is not to focus on how often you should rebrand or refresh, but on why and when it's necessary. The focus should always be on making deliberate, informed decisions that align with your brand's long-term vision and objectives.