According to Lucidpress, brand consistency can increase revenue by 10-20%, emphasizing the significant impact a strong brand has on a company's bottom line.
A product shift, such as launching a new line or reformulating existing offerings, often necessitates rebranding to align the brand identity with these changes.
A high-profile example of rebranding is Facebook's transition to Meta, marking its strategic shift from a social media platform to a broader vision encompassing emerging technologies.
Companies must recognize when their brand identity no longer reflects their current business model or offerings, as a successful rebranding can foster long-term growth.
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