Is Rebranding the Key to Keeping your Edge in the Digital Market in 2024

Img source:

Take a look at your online store and answer this question “Is this your current brand?”.

The web is oversaturated with branding articles, but what about rebranding? What should you do when your brand no longer meets your current values and message?

And you cannot avoid rebranding because your company grows as the industry changes. The digital world continues to evolve, no matter if you keep up or not, but if you don’t, your chances to retain your clients are minimum. To understand why rebranding is a crucial process in business evolution, take a look at Apple, one of the most famous companies of all time. Its rebranding strategy helped it avoid bankruptcy. It entered the market under the name Apple Computers, with a boldly colored logo. To keep up with the market’s request, it removed all colors to deliver a fresh image and deleted the company’s name from under the logo because it restricted their range of services. Apple does more than producing computers.

You already have a brand your clients relate to, and you shouldn’t completely change who you are. But to establish your reputation as a leading retailer, you need to develop your brand to stay relevant in the industry.

When to rebrand (and when to leave it be)

Img source:

Rebranding is a complex process and implies a lot of risks. Even well-known brands aren’t immune to the liability it implies. For example, Uber lost some of its clients when it redesigned the logo because 44% of people didn’t understand what it represented. But knowing that you’re walking on thin ice will make you act with caution to make sure you identify all possible risks and develop solutions for them.

If you want to rebrand because of a drop in sales, you may instead want to create a new marketing strategy because your brand isn’t 100% to blame for your lack of clients. Conduct market research to find out what stops people from buying your products and fix the issues.

But when your business’ market, values, mission, or vision no longer reflect your brand, rebranding is the smart decision. Here is a shortlist of reasons why you should rebrand.

  • New philosophy. When your values, vision, and mission change, and your business’ direction pivots with them, reevaluate your brand image and determine how you can modify it to meet your new philosophy.
  • New location. An international expansion requires rebranding for your logo, messaging, and values to meet the local culture.
  • Market repositioning. When you want to target a new audience, you need to reposition your brand to meet the new customer profile.
  • Acquisitions and mergers. When two businesses come together, their individual logos don’t match their common values. Creating a new brand that reflects the new entity’s values and culture is required.
img source:

When rebranding isn’t a solution.

  • You try to cover up a crisis. Your clients are smart, and they can recognize a brand even after you change its image, so don’t trick them trying to cover up bad press or negative feedback.
  • Boredom. You’re sick with your logo and slogan, but before changing them research your public to find out if they share your opinion.
  • Ego. You may be the new manager and want to implement all the changes you think will improve the company. But rebranding doesn’t always imply a change for the better.

How to rebrand to keep your edge?

To successfully rebrand your retail store, you need to create a strategy that helps you accomplish your goals. From your slogan to the logo, colors, strapline, and messaging, you need to be consistent with the elements you choose for your company. Here are the main steps you should follow to keep your edge on the present digital market.

Research the present and future trends

The new year is around the corner, and it’s the perfect moment to look into the latest design trends. Your websites should look good, be user-friendly, have good navigation, and be responsive on mobile devices. 63.4% of people used their mobile devices to access the internet in 2019, and the number is expected to grow considerably because mobile has become the medium of choice for most people.

img source:

99designs has published the top eCommerce trends for 2024, and they include

  • neutral background colors
  • multidirectional layouts
  • creative animations for page transitions
  • oval shapes
  • pastel pops
  • vaporwave influence
  • fun filter functions.

Freshen up your logo and color scheme

When you upgrade the logo and change the color scheme, check if they resonate with your current audience. You may think they offer a fresher look, but they may not match your audience’s preferences. A company like Pixetic, that specializes in product transformation and rebranding, can assist you in the process and help you determine if you need to change the branding elements completely or slightly modify them to match your evolving business. Often, a subtle change in color or shape is enough to give the brand a freshness boost.

eBay is an excellent example of how to maintain the same color scheme and message and change the logo simultaneously. Their newer logo meets the current trends, is cleaners, and more streamlined.

Img source:

Your message should be clear

Everything you put out there as part of your brand (website content, language used, social media pages, and promotional materials) should be consistent. What message do you send to your audience at the moment? Is it working for your target customer? Before rebranding, determine how your clients currently perceive your company and if it’s working for you. Research your public and find out who they really are. What needs and preferences they have. Create the profile for your ideal buyer persona, and craft a message that reaches them.

Your strapline is a vital part of your branding strategy. Recognizable companies have memorable slogans. Nike and Coca-Cola have updated their slogans dozens of times to stay current.

The bottom line: rebranding isn’t simple but it can keep your business’ edge when done right. It would help if you found a way to stay current and use your brand image to attract and retain clients.