Business owners that are not happy with the way their business is progressing need to do a careful study as to what is happening with the business. This may lead them to the conclusion that they need to make some serious changes.
If the decision is to refresh the brand then your objective is to give the company a fresh look without changing its identity. You are going to remain with the foundation of the business that you have been building, but you are going to fine tune it. There may be a few areas in the brand that need some tweaking. Refreshing may mean making some small changes to the logo. An update of the slogan may be another change. Sometimes just a change in font can create a new look but one that is still identified with the brand.
Quite often a brand refresh means making changes to the brand that are going to bring it more up to date.
Rebranding is more dramatic and it is more like starting over from the ground up. The goal here is for the rebrand to create a whole new perception of your business. It is a complete image change. When making this decision, the company may also be deciding to change the focus of the business, or perhaps are going after a different target market.
There several reasons why it may be more beneficial for a company to rebrand rather than refresh. It may be that they are not able to stay on par with their competition. The company brand may be outdated. Or, there may have been major changes within the industry that the company is part of.
A business owner has to be careful with the decision they may. Refreshing is less work and risk than rebranding, but this aggressive step for the business can make a huge and positive difference.