Wondering if it's time to rebrand your business?
Need some help knowing if it's the right move?
Rebranding your business is not a decision to take lightly. It's important to consider it and make sure that it will be the best move for your business in the long run before you go through with it.
Luckily, we're here to help. Below we'll look at the 9 big signs that it's time for a rebranding.
1. The Vision Has Changed
One of the biggest signs that it's time for you to rebrand your business is if your company has had a change in vision or mission.
Have the customers and clients you serve have shifted somewhat? Have you found yourself coming out with a new product that doesn't align with your original mission?
If you need to expand the idea of what your business has to offer, then it may be time for a rebranding. During a rebranding, you can incorporate every aspect of what you do now. Make sure that your branding reflects what you offer at the present time, not 10 years ago.
2. It Doesn't Stand Out
If you've noticed that your branding is similar to other companies that you compete with then it may also be time for a change. It's important that you look for ways to differentiate yourself from the competition. If your identity is starting to look bland and uninspired you may be missing out on a lot of customers.
While you shouldn't go too crazy and brand yourself in a way that doesn't work for your customers and services, you should look for an authentic way to rebrand yourself that aligns with your vision and stands out from your competitors.
3. The Market is Changing Fast
Depending on your industry and the competitors you have, you may find that things are move quickly. Your competition may be leaving you in the dust as their new products and services come out.
If you feel like your new competitors are eclipsing your success and moving past you a rebranding may help you to catch up. You don't want the perception to be that you carry the "old version" of a particular product.
While there is more to do to keep up with the competition, a smart rebranding can do a lot to help you stay relevant even in a changing, competitive market.
4. You've Lost Focus
If your brand has tried to get its hands into too many different things recently your brand may be getting a little too scattered. If you're starting to offer many varied types services and products, it might be time for a rebranding.
Your company may have lost its focus. A solid rebranding can help your entire company realign with its true goals and visions. It can also help to create a better cohesiveness that incorporates the new things that your company does in a smart way.
5. There Has Been a Merger or Acquisition
If your company has recently gone through a merger or an acquisition, or it will be soon, this is the perfect reason to go through a serious rebranding. If multiple brands are coming together it can be hard to keep things aligned and to get a clear view of how it all fits together.
It's important to look at all the pieces of the puzzle. Try to find a way that makes sense for branding each brand and sub-brand involved. If possible look for ways to keep it all related to one another and branded as part of one company.
6. You're Not Attracting Great Job Candidates
Another reason you may want to consider a rebranding is if you're failing to attract the best job candidates you need for your company to grow.
The best talent and the top job applicants may not want to work for you if your brand doesn't stand out to them. If your company doesn't seem like a strong force in your industry they might look elsewhere.
While it can be hard to know for sure if your brand image is what is scaring the best candidates away, there are ways to find out. Consider doing some brand research and surveys to see how your brand stand's in people's minds.
7. You Need to Leave an Old Image Behind
If your brand or company has attracted a user base that it never intended to, you may also want to go through a thorough rebranding. Although it is a bit uncommon, in some cases a negative group or type of consumer may become associated and even synonymous with your brand.
If your brand has somehow got a bad image due to an association or due to attracting a customer base that you never intended to get, a rebranding can help. You'll be able to reshape your brand with a target customer in mind. You can reinvent yourself so that your negative association with a particular crowd will disappear.
8. You Want to Attract a New Demographic
If you want to attract bigger clients or there is another demographic that you want to attract, a rebranding can also be a great move on your part.
You may even choose to rebrand your business in different ways for different consumers. Your product can be different things to different types of people so make sure you capitalize on this.
Do some thorough market research to find out what your target wants in your product and how it can meet their needs. You may find a good way to brand yourself in a way that is most appealing to them.
9. You're Embarrassed to Mention It
While this sign relies a bit more on your gut instinct than some of the other signs, the truth is that you should feel proud of your branding. If your brand makes you embarrassed when speaking to others about it, you may want to change.
When you hand out your business card are you afraid of what people will think about it? Is your website design outdated? Does it make you worried or embarrassed that your marketing materials and presentation aren't up to snuff?
If so, it may be time for a rebrand so that you'll be able to share your business with others and have a brand that you're proud of.
Is It Time to Rebrand Your Business?
It can be hard to know when it's time to rebrand your business. However, the tips above are a great place to start. Consider the signs above when trying to decide if it's time for your brand to go through a serious change.
Ready to rebrand your business? We can help. Contact us today to learn more about what we can do for you.