Businesses facing one or more problems might wonder whether rebranding or repositioning would be the right strategy to get back in the game. The two aim to boost brand perception, so deeply understanding the differences between rebranding and repositioning is important.
Some businesses get confused as to which strategy best addresses their specific brand challenges. Rebranding involves a total/partial change in identity, while repositioning involves adjustments of perceptions without a complete redesign.
This blog will look at the common differences between rebranding and repositioning. You will learn how, when, and which approach to choose according to the situation your business is currently in. Whether a new brand image or refined messaging best fits your needs, the path forward starts with asking the right questions.
The Idea of Rebranding
Rebranding is a process that involves changing the image, name, logo, or entire identity of your brand.
Several companies have successfully rebranded and achieved commendable success. For instance, Apple’s transformation in the late 1990s under Steve Jobs is remarkable. Apple moved from a struggling computer manufacturer to a leading tech giant by focusing on innovation and sleek design.
It is not just about updating your market appearance; it’s about rewriting perceptions, re-communicating the business values, and sometimes even redefining your business mission.
The Process of Rebranding
Rebranding requires multiple steps, alongside careful planning and execution. The processes include:
- Research and Analysis – The first step is understanding why your next option is rebranding. It involves market research, competitor analysis, gathering necessary information from customers, and identifying the strengths and weaknesses of your current brand.
- Define your brand strategy – You need to set objectives for the process. What are your goals? Who are your targeted customers? What message do you want to send?
- Develop your brand identity – This is a creative phase. You develop a new name, logo, and overall visual identity. Ensure that your new identity correlates with the brand strategy and target audience.
- Internal Alignment – Your workers are your brand ambassadors. You must ensure they understand the purpose of rebranding so they can be informed and educated about your new brand.
- Launch and Communicate – You need proper time to plan the launching of your new brand. You can run campaigns or post the new brand on your social media handle.
- Monitoring and Evaluation – Monitoring and evaluation is another important step. Monitoring means finding out if your brand is performing as per schedule. Evaluation involves finding out whether your new brand is yielding the desired results. You should track your brand’s success and ask your customers about your shortcomings, then make amends to suit your customer’s wants.
Rebranding is a powerful strategy that can help in reviving your business. It will help attract new customers and help your brand stand out in the marketplace.
What is Repositioning?
Repositioning your business simply means changing the market position and perception of your brand or product in the “minds of customers.”
It’s all about changing what your brand stands for and how it competes in the market. Several brands have adopted repositioning and achieved significant success.
Repositioning shifts your customers’ perception of your business.
Difference Between Rebranding and Repositioning
Rebranding and repositioning are different. However, both yield the same result, i.e., to revive your brand. But each caters to a different set of problems.
Rebranding your business can simply mean changing the appearance of your brand, such as the logo, color scheme, and overall design language.
It aims to refresh your brand’s image and attract a new audience or retain the existing ones. Rebranding is often undertaken when a company wants to move in a new direction or expects significant evolution in its business model.
Contrarily, repositioning is more about changing your brand personality. It involves changing your brand’s message, values, and market placement without necessarily changing its visual identity.
Additionally, rebranding can sometimes solve outdated perceptions, while repositioning helps capture new opportunities or address shifts in consumer behaviour.
Rebranding and repositioning can take your business to the next level. It is important to understand the difference between them to know the most effective approach to address your business’s challenges.
Which One to Choose? Rebranding, Repositioning, or Both
Whether to opt for rebranding, repositioning, or both depends on your business needs and market dynamics.
When to choose rebranding
Rebranding involves changing your company’s name, logo, design, or overall image. This is useful when your current brand identity no longer correlates with your target audience or does not go with your business values.
It is effective if your brand has been tarnished by negative publicity, is out of trend, or if your company has undergone acquisitions or a shift in business focus.
Rebranding can help you create a new image to attract new customers and strengthen your market presence. It gives rise to a new beginning and can effectively reset customer perceptions.
When to choose repositioning
Repositioning involves changing the personality of your brand in the market. This is beneficial when your current market position is not yielding the desired results or when you want to target a new market segment.
It is often necessary to meet the changing consumer choices, increased competition, or new market trends. It helps your brand stand out from competitors and adjust it according to the needs and desires of your target audience.
When to choose both
Both rebranding and repositioning are sometimes required to achieve the desired business transformation. The combination of both is appropriate when there is a need for a complete renovation of both brand identity and market perception.
It is often necessary in highly competitive or rapidly changing markets where the brand image and positioning strategies must be refreshed to stay relevant.
The choice between rebranding, repositioning, or both should be based on a thorough analysis of the market conditions and consumer demands. Each strategy has its benefits and can be the key to sustaining growth and achieving long-term success.
Conclusion
All in all, rebranding and repositioning are powerful tools that can be used to strengthen your presence in the market. However, deciding on the right strategy to use is important since it’ll greatly impact your business. You can also choose both when you need to change your brand’s identity and perception.
