Written by Nick Stamoulis
Categorized in: Digital Marketing
When you own a brand, making big moves can seem intimidating and overwhelming. You may have come to the conclusion that it’s time for your brand to undergo a rebranding or a consolidation with another brand. Knowing which one will better serve your brand takes consideration and understanding of how each will affect your business and its growth. Here’s what you should know about digital rebranding vs brand consolidation:
When Rebranding Makes Sense
Digital rebranding involves the creation of a new digital identity including a new logo, website design, slogan, social media presence, and more. A digital rebrand can help you to remain competitive and relevant in a market that is constantly evolving. A digital rebrand can be complicated, but worth the time and effort involved in the process. You may consider a digital rebrand when:
- Your website and/or blog aren’t getting traffic.
- Your fanbase on social media isn’t growing.
- Your social media posts aren’t getting any engagement.
- Your content isn’t being shared.
- Your product or service isn’t generating consistent revenue.
- Your website appears outdated and hasn’t been updated in a while.
- Your website doesn’t perform well on smartphones and other devices.
A digital rebrand is all about creating a new identity for your business. This rebrand should make everything cohesive across all channels so that your target audience is able to recognize your brand wherever they are spending time. Being aware of when your business could benefit from a digital rebrand is important to its overall success.
The benefits of a digital rebrand include streamlining your brand’s messaging and image to attract more of your target audience. A scattered brand will attract a scattered audience that may or may not stick around. There are also financial benefits to rebranding. Increased brand awareness and loyalty leads to increased revenue, which leads to long-term success.
When Brand Consolidation Makes Sense
Brand consolidation is the act of bringing two or more brands together to create one stronger and more solid brand. A business that is not looking for a new logo or a complete rebrand may opt for consolidation. Consolidation might make sense for your brand if:
- You can’t offer your customers good reasons why they should choose you over your competitors.
- You can’t clearly explain what your business does and what you have to offer.
- You can’t answer the question “what is your company’s mission and purpose?”
The benefits of brand consolidation include an increased impact on your market presence. Bigger brands will typically have a bigger presence. By consolidating, you can increase your following more quickly. Another benefit to consolidating brands is the overall cost savings.
Maintaining a brand can require significant costs, but by consolidating, you reduce costs. When you consolidate your brand with another brand, you become a third brand essentially. This allows both brands to become more modern, allowing for a fresh start.
With brand consolidation comes the need for digital rebranding. The consolidation of two brands requires a new logo, new colors, and a fresh message. You may also be able to utilize existing websites when consolidating brands. If the SEO has value to the new brand, migrating content to the new website can be very beneficial. You can also implement a 301 Redirect to take people from the former brand’s website to the brand-new website.
Deciding whether to digitally rebrand or consolidate your brand is something that shouldn’t be taken lightly. Knowing the needs of your brand is crucial as both options require time and effort. Whether you choose to digitally rebrand or consolidate, you can expect positive results if you take the right steps.
