Branding is an essential part of any business, it’s about the basis of your brand and understanding who you are beyond the visual aspects. However, there comes a point in certain businesses, where you have to look at your brand and think to yourself: does this brand truly represent who we are? Does our branding truly serve our business allowing it to grow? So, here are 5 signs that it’s time to rebrand:
- YOUR BRAND IS NOT RELEVANT: If your business is simply not relevant anymore and you’re not a topic of conversation this means your brand has become forgettable. If your brand isn’t capable of keeping your consumers interested, and people don’t care about who you are and what you do, it’s certainly time to rebrand. When reworking on your image, think about how to visually attract the right customer your way and the best way to differentiate your brand from others.
- NEW OWNERS: When you either buy your business or hire new management, a new set of values come into play. These values and ideas should be reflected in your branding and image. New owners or management will have an updated vision for the business and will be able to bring new life to it as well. All of this could bring a fundamental change to your business and you want to make sure you reflect that in your branding.
- GROWTH: When you are at a point when you’re ready to grow your brand to new levels, it might be time for a rebrand. If you’re launching a new product or service, are expanding to new locations, are looking to gain competitive advantage and are on the brink of stimulating growth, a new brand image could be the right direction for you. Rebranding will also permit you to grow to a new market with a unique set of needs, behaviors, and ideas. A rebrand will help when you’re preparing to grow and will certainly enable your business to achieve new dimensions.
- OUTDATED: When your branding is so old you don’t even remember who created your logo or website, then it most definitely might be a time to rebrand. Your image might have been perfectly fine when you started, however, if your strategy has changed over the years and you need to reflect something new, it’s a good time to think about a new logo and image. Looking to modernize and make changes to reflect a more updated and new version of your business is perfectly valid.
- LOOK + FUNCTION DON’T MATCH: When your brand doesn’t reflect who you are, what you do and the value that you’re capable of providing, it’s definitely a good time to rebrand. You can go for years not seeing that your branding is hurting you more than serving your purpose. In this case, analyze your brand and your target market and look at what the top people in your field (or businesses with your same audience) are doing with their branding, image and the way they communicate with their audience. So, for example, if you have a high-end brand that’s attending high-end customers, you really want to make sure your branding looks high-end as well. Consistency is key in successful brands. You want to make sure you match your look + feel with who you are.
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