When business slows or a blind spot in company-to-customer interaction becomes known, some companies choose to rebrand. This could mean a complete brand overhaul, including a new name and a refresh of logos, fonts, color schemes, etc.
Rebranding is a tricky business. While a new look has the ability to draw in new customers, it also has the potential to lose you old customers who don’t like change. It’s a fine line to balance the old and the new.
To help, seven members of Young Entrepreneur Council discuss their most effective strategies to refresh a brand when the company is headed in a new direction. This is what they had to say: