Do you ever wonder whether it's time for a rebrand?
Your company or organization's branding conveys a clear and effective message to consumers. Because of this, though it's a big undertaking, rebranding can pay off in a major way. if you're wondering whether it's the right next step for you, here are some factors to consider.
What Is Rebranding?
At its core, rebranding is about influencing customer perception. Its goal is to change a product, service, or company's image. Rebranding involves creating a fresh look or new messaging for an established brand.
If this is what you want to accomplish, then a rebrand might be the right next step for you!
Reasons to Rebrand
If a rebrand is needed, it's well worth the investment of resources. However, it's always a good idea to identify your why before moving ahead.
Here are some reasons that rebranding may be a good choice.
1. You're Going After a New Audience
Maybe your target audience has evolved over time. Or maybe you’d like to expand to a new group of consumers, whom you hope will make up a large share of your audience.
If so, you should think through whether your current look and tone fit that new audience. If not, you may want to change things up to appeal to that specific group of consumers more effectively.
2. Consumers Can't Tell You Apart from the Competition
Certain styles appeal to certain groups of people. This can sometimes cause brands targeting similar audiences to look and sound like each other. Some similarities are fine, but you want consumers to be able to easily identify your brand.
If customers often confuse you with the competition or you feel like you blend in, it's time to set yourself apart with a rebrand.
3. You've Changed in a Significant Way
Many factors can cause a brand to change in a significant manner. Maybe you've recently expanded or grown over the years. Maybe your brand has evolved over time or you've adapted a new message or model. Perhaps your product or service offerings have even changed.
Any of these significant changes present an opportunity to rebrand.
4. You've Recently Restructured
A merger, acquisition, or change of ownership represents a new chapter for a company. You may want to mark that new chapter with a new look and tone.
5. Your Branding Doesn't Accurately Tell Your Brand Story
Your branding's job is to share your brand story - your message, values, and mission. It should allow your customers to easily identify what you're about. If it doesn't do this effectively, a rebrand is needed.
6. Your Branding Is Outdated
Even the best branding has a shelf life. It should last for quite a while, but it will eventually need to be replaced.
If your current branding looks like it belongs in a different decade, it's time for a revamp.
A rebrand requires a large investment, but it can pay off in major ways. If one of the factors mentioned above applies to you, rebranding may be a good next step for you to take.
If you’re looking for someone to help you, reach out. It’s our mission to enable brands to reach their full potential. We’d love to work with you to make sure you’re reaching your target audience effectively.
Sources: Column Five Media, Ignyte Brands, Entrepreneur, Canva, Forbes
