When is the right time to rebrand? Chances are you understand that rebranding your business requires more than just sprucing up your company logo.
A common mistake when choosing to invest in your brand is timing. Why wait for a down turn in the business?
By rebranding you can open yourself up to new markets and grow your business exponentially.
A brilliant case study of rebranding during opportunistic times is the story of “The Bank of Italy“.
In 1904 Italian immigrant Amedeo Giannini decided to create a bank for the growing body of migrant workers in San Francisco.
Realising that he needed a name that resonated with the large Italian population, he chose to call his bank "The Bank of Italy"
The name and sharp focus on the immigrant clientele helped The Bank of Italy gain enormous and rapid growth. None more so than in 1906 when the bank helped thousands in the San Francisco community get their lives back together following a devastating earth quake.
Times were good and the bank extended across the state of California.
This is where many would have sat back and enjoyed the good times. However Amedeo Giannini had bold and ambitious plans. His brand was holding up his growth beyond the Italian population of California. To expand outside of this limited customer base Giannini needed a new brand... So he founded The Bank of America.
Within 10 years following his rebrand Giannini would be the sole owner of the second largest bank in the world. A pretty decent result from a simple rebrand!