We recently wrote a blog about why branding is more important than ever. This prompts a follow-up for companies that already have established brands. Why and when should a company rebrand?
It’s all in the name
In 2014, The University of Arizona went through a complete rebrand, introducing a new mark, website, mobile app and tagline. Fast forward five years and earlier this month the university announced it will no longer be using UA as its moniker and will now be adopting UArizona as its primary brand nickname.
While this is not considered a complete brand overhaul, it is a notable change. Interestingly, the impetus for the modification to the well-known Arizona school’s popular nickname is to differentiate it from the many other UA schools: University of Alabama, University of Arkansas. In fact, a key reason sited was to help SEO for better results on a Google search. In essence – it appears they hope to improve their online rankings and drive more traffic to their website.
As competitive as it is for students to get into their college of choice, it is equally competitive for universities competing to attract the best and the brightest. As a result, the marketing machine for universities is an active one and prospective students are starting their searches online, perusing website and social media platforms to form their list of schools to submit applications.
It may seem ridiculous to U of A alumni, but strategically, the change makes sense if the goal is to attract prospective students. Attracting new customers is one of the many reasons a company or organization should consider rebranding. Here are a few of the other reasons:
- It’s time
In other words, a brand refresh may be long overdue. Some brands can stand the test of time but even then, at some point it may be time to update. Morton salt is a perfect example. The iconic brand with is navy packaging and umbrella girl was introduced in 1914. Through the decades the Umbrella Girl was given a new look to keep up with fashions of the day, but it wasn’t until its 100th birthday in 2014 that company gave it bold lettering a font update to give the brand a more “fresh and friendly” look.
- Combat competition
If you want to attract attention in the marketplace, an update to your brand can be an effective tool to separate from the pack and get people talking. Take a look around, research the competition. If it looks like a sea of sameness, there is an opportunity for you to standout from your competitors. A brand update can make a statement.
- Differentiate from others
Just this month, Facebook introduced a rebrand for its corporate entity to differentiate the parent company, Facebook Inc. from the social network. The company now owns and runs a family of apps that include, Instagram and WhatsApp. The rebrand is an effort to elevate the corporate brand image.
- Appeal to a new demographic
If you are looking to secure new customers, especially in a new demographic a rebrand can be an effective strategy. Entering new target markets can call for a new look and change of voice that will make your brand appeal to a new group of customers.
Changes in the market, growing competition, along with internal changes to product and service offerings are all reasons for considering a brand update. Whatever the case, it is vital that your brand messaging and elements remain relevant to attract and retain customers. As a rule, more established brand should reassess every five to 10 years.
If you are interested in a brand assessment or in need of help with your brand message, let’s talk.