5 Signs It’s Time to Rebrand Your Business
Running a business with all the nuances of every day work can make it hard to step back and look at your company as a whole.
When was the last time you stopped to see if your brand or product identity was still relevant? The word ‘brand’ can often feel daunting to many and what does a rebrand mean? Does it really need doing right now?
Let’s start with what your brand actually is. Often confused with just the logo, a brand is the sum of all of the touch-points that come into contact with current or potential customers. This will include your logo, stationery, marketing materials, website, office environment, product packaging, vehicles and even how your staff communicate with your customer base. In short, your brand is much more than the logo, although the logo is usually the first thing people will see and hopefully remember!
A rebrand is the creation of a new look and identity for your company, product or website. It can come in many forms, from a new market strategy, complete name change, new logo and visual identity, to a few minor changes such as a visual redesign.
But how do you know if your business is in need of a brand refresh or complete rebrand? And if you think it is time for a change how do you know when it is time to talk to a branding agency?
The following are 5 telltale signs that your brand is probably ready for an update.
1. Your brand does not stand out from the crowd
Branding is all about competitive differentiation. However, you start your business, you create your business plan and your marketing strategy, and after a while, you discover that your brand is not noticeable. It does not stand out from the crowd and you have a limited pool of clients despite your good services and overall great feedback.
2. You’re embarrassed to hand out your business card or website address
If you cringe a little when you reach for your card, or apologise about your website, it’s probably time for a rebrand. Outdated, stale, boring, unoriginal—if your corporate identity or online presence falls under one or more of these, get to a branding agency asap.
3. Your business model or strategy has changed
All too often the strategic objectives of your company five years ago can be very different as you grow. From technology changes to market opportunities businesses change. And your brand should also fall in line. The way your company is perceived by those it serves (i.e., your brand) should always align with the way it operates behind the scenes.
4. You’d like to raise your prices
Brands ultimately boil down to customer perception and the value of what you offer can become entrenched in the minds of those you serve. By rebranding, you’re able to reshape the way your customers perceive you, and raise the asking price of your services accordingly.
5. You need to connect with a new audience
From Baby Boomers to Generation Z, there’s always another generation who are spending money in the current marketplace. A rebrand allows you to redefine yourself with the goal of reaching new audiences. Staying on top of demographic changes is good business.
If any of the above sound familiar then it’s probably worth getting in touch with a branding agency to help guide you through the best route for your business strategy. You can rest assured you’re making the right decision. The measurable benefits that come with rebranding, mean that the investment is likely to pay off many times over.
Last updated 17th April 2024