The pros and cons of rebranding your business
Time for a change? We look at why companies, big and small, choose to rebrand and help you decide if you should do it too.
One of the UK’s biggest channels, Channel 4, announced that their 4od service is to be rebranded as All 4 at some point this year. Apparently, the idea behind the rebrand is that All 4 will become a one-stop shop for all of the channels in the Channel 4 family.
It is not just TV giant Channel 4 that fancied a change, many big and even international companies decide they want to change their image. The latest world famous company to rebrand was PayPal.
PayPal are the leading digital payment company in the world. They modernised their previous logo, allegedly designed to make it more readable on small devices. Along with their logo, PayPal changed their ethos claiming they wanted to make their service more consumer friendly.
But it’s not just world famous companies that have major branding overhauls. Mitie, a company who provide facilities for a wide range of public and private sector businesses, rebranded in February 2014. They launched their new look brand along with a new vision and a whole new set of values.
So why are these companies rebranding?
Rebranding can be incredibly rewarding and transformational. It can boost your company or business into a whole new level. But, if not done well and not done for the right reasons, rebranding could be detrimental.
There are a few reasons you might need to think about rebranding. For example, if you want your business to be taken more seriously as you grow and expand into bigger markets, if you have made a fundamental change in your company’s direction or thinking, or perhaps you just want to remain relevant in an ever-changing marketplace.
If these are not the motivating factors behind your image overhaul, you might end up spending hard earned cash on something that has little effect. If your branding is effective already, perhaps it doesn’t need changing. Is it worth the risk?
But Channel 4, Paypal and lots of other big companies did decide it was time for a change and so far, so good for them. So if you do decide that your image needs improving, make sure you get someone, like Level, who knows what they are doing involved and watch your business grow!