5 Signs it’s Time to Rebrand Your Business
Is Your Branding Hurting Your Business? When Should You Consider Rebranding??
Before you can determine whether or not your business branding is failing, it’s important to first define what it means to rebrand a business. A rebrand can breathe new life into the visual identity of your business. A visual identity includes logos, colors, typography, photography, names, taglines, and messaging.
Regardless of the size or longevity of your business, your brand visuals can only remain relevant for an average of 7 to 10 years due to changes in the market, customer needs, and additional unavoidable factors. Even multi Billion dollar companies such as McDonald’s, FedEx, and Uber have had to revamp their visual identity to stay relevant over the years.
So when should you rebrand your business? Sometimes it’s difficult to evaluate the best time for a rebrand.
Here are 5 signs it’s time to update your branding:
1. Your Brand Style is Outdated
As times and cultures change, brand visions often change as well. Your brand should always evolve with the growth of your business. This could be due to changes in the market, customer needs, and many other unavoidable factors.
Whether it's updating a logo style, changing your brand colors, or revamping a website, rebranding is meant to enhance the visual identity of your business.
2. You Aren't Attracting the Correct Customer Market
Staying on top of demographic shifts is just good business. If and when your customer demographic changes an effective rebrand allows you to redefine yourself. This is the perfect time to renew your relationship with current customers while also appealing to new customers. By building a strong brand that relates to your customers needs you are creating a community of people that are going to want to buy what you are selling.
3. Your Business Doesn't Stand Out from the Competition
At the end of the day, branding is all about standing out from the competition. If your business is blending in with other businesses within your target market then it may be time to consider a rebrand. Finding a way to appeal to your ideal customers while also differentiating your business from your competitors is quite a task.
Try finding a way to authentically appeal to your ideal customers without losing sight of who you are. For a rebrand to work effectively you must remain authentic to your brand identity and values or risk losing your current customer base.
4. Your Business Model has Changed
Whether it’s due to exponential growth or a merger or acquisition, rebranding is always an option to ensure you are reaching your goals. As consumers become familiar with your brand and the new products and services you offer your brand identity and look also advance. As your business evolves there may be internal or external company changes that need to be addressed.
This could include expanding your audience, or releasing a new product. During a merger, internal changes and transparency with your customer through a rebrand is a great way to maintain the trust that you’ve already built. This will give your customers peace of mind that the product quality or service they know and love will only improve as your business model changes.
5. Confronting an Extended Period of Negative Publicity
Trying to shake a negative image due to bad publicity is tough. Due to the rapid spread of public opinion via social media business mistakes can spread like wildfire. Rebranding is often the simplest and most effective remedy to douse the flames in these situations. This can be an opportunity to not only renew the trust of your current audience by presenting a strong new brand message but also introduce yourself to future customers.
Takeaway: Things to Consider When Rebranding your Business
Creating a brand identity for your business that not only: represents the quality and care your business provides, resonates with the ideal customers, but also communicates clearly who you are and/or what you offer - is an art and a science.
At
Origin Media Group, we take the guesswork out of developing quality
rebranding services, sales collateral,
custom websites, and
marketing content so you can focus on what matters most in your business. With 50+ combined years of industry experience, our team of award-winning designers, storytellers, and strategists is changing the way you grow your brand and online presence!
Need to rebrand your business?
Contact us today for a free 15-minute consultation
