Rebranding refers to the process of changing your company's image, identity and/or name. It can be done for many reasons:

• To attract new customers or enhance relationships with existing ones by creating a more relevant brand story
• To emphasize your strengths and values as an organization
• To reflect changes in culture, leadership or mission

Benefits of Rebranding

• Increase brand recognition
• Improve customer loyalty
• Increase market share

How to Rebrand Your Business

You need to develop a brand strategy and create a new logo and brand identity, this is when engaging an agency is a critical element of the process. Once you've engaged a team that is working towards the goal with you its time to create a rebranding plan that will help you execute the changes in your business.

To start, it's important to understand what rebranding means in this context: It's not just changing the name of your company or product--it's all about changing how people perceive your business. A successful rebranding campaign should help you stand out from competitors by making it easier for customers (and potential customers) to identify with what makes your company unique.

Rebranding Challenges

Cost.

The cost of rebranding can be prohibitive for some businesses, especially if they don't have the budget to invest in new branding materials and marketing campaigns. Your  brand is a critical strategic asset in business and to do it at all should be to do it right. This process should be carefully considered and your branding partner thoroughly reviewed to ensure the result will be worth the time and money invested in the process.

Maintaining brand consistency across channels.

When you're dealing with multiple social media accounts, websites and other online presences--not to mention physical locations--it can be difficult to keep everything looking consistent while still maintaining an authentic voice for each platform. For example: You might want one Instagram account that looks like it belongs on Pinterest but another Instagram account that feels more like Facebook because those are where your target audience spends most of their time interacting with brands online today!

Managing expectations.

Managing customer expectations about what kinds of products/services will be available after rebranding takes place; this may require changing product lines or pricing structures which could lead people who've been loyal customers over time feel disappointed if they find out after investing money into something else (such as subscriptions) only later find out there was nothing left worth buying anymore due changes made under new ownership