The answer to this question largely boils down to how you define a “rebrand”. If you're thinking it's changing your company name, logo or tagline, then the answer is: probably not. However, if gone about in the right way, there’s every chance rebranding can lead to sales growth. Let’s take Apple as an example; in 1997 they were nearly bankrupt, and fast-forward to now when they're pretty much ruling the world. This is down to building creative, well-made products, enhanced by stylish packaging and a positive user experience in-store.
But now that businesses are focused on measuring ROI more than ever, when can we expect to see a return from a rebranding campaign?
First things first, rebranding can generate huge returns, but it’s important to remember that they are long-term and indirect; the impact isn’t usually immediate, but it can be measured. When other changes are implemented alongside a rebranding campaign, these factors could also impact the results – for example, increased media spend.
The main way to increase leads through a rebrand is to ensure that you are delivering relevant messages to your target audience, thereby increasing awareness. Know who you are aiming at and then craft your message accordingly, meaning the buyer will choose your product or service over a competitor’s.
When it comes to an identity change, it’s important to work with a marketing agency that can help you conduct the initial research on brand perceptions, establishing a clearly-defined brand target, personality and promise.