Market trends evolve constantly. It’s the same with your company’s brand. What used to work in the past might not work the same in today’s circumstances. Perhaps your product range has changed by now. Perhaps your brand has outgrown its original vision.
It’s time for redefining and recalibrating. How exactly do you know when it’s time for a change though? Is rebranding a good idea? Here are some things to consider when rebranding should take priority in your business:
When Your Brand Blends In
It may have been easy to stand out amongst the crowd when you first opened shop. Perhaps it was a new market and there was little competition. Now, however, the secret is out. You have found a lucrative market and the rest of the world seems to have caught on.
Rebranding will enable you to capitalise on the unique experience you provide your consumers. This is your chance to showcase your specific skills and stand out from the competition.
Potential Clients Don’t Understand What You “Do”
When your company was in its infancy, it’s likely you offered one clear and simple service or product. But as your business grew, you began implementing new products or services.
That’s perfectly fine. However, is it clear to your target audience what your company does? Does your brand reflect all that you offer?
Your brand needs to be clear and depict exactly what your company is now, not what it started as.
You may be exactly what the client is looking for, but they don’t know it because your brand isn’t telling them.
Much like fashion trends, logos can also go out of style. Depending on the font and graphics, your logo might look dated and passé. The last thing you want is a logo giving the impression that your company is behind the times.
A large part of revamping your brand is bringing your logo up to date. A less-than-modern logo can imply that your products or services are unattractive, even cheap. A fresh brand will be reflected in your new logo.
Uninformative or Difficult-to-Use Website
Chances are you’ve been in business for some time now – even decades. Why does that affect your website? Because when you first opened your doors, the internet was completely different.
The internet is a fast-moving technology and your competitors will also be changing how they brand themselves. If you don’t keep up with them, your website can easily become outdated, uninformative, and difficult to use.
If your website is outdated or not compatible with mobile devices, it will be difficult for your clients to find what they are looking for.
There is a chance that a lot of the information on the website is no longer correct. Personnel has probably changed over the course of time, along with their contact information. Maybe services are listed that you no longer offer. Or perhaps you now offer much more but your clientele isn’t aware because it’s not on your site.
If you are going to go through the effort to redesign a website, why not redesign your brand while you’re at it?
There is no better time to rebrand than when two companies are combining. It is an exciting time. Both teams are bringing fresh, new ideas to the table and it’s time to let the public in on what you’re doing. Rebranding at this time gives you the opportunity to present the new team to the world and make it clear exactly what products or services you will be offering.
This is especially important if those things have changed. Your new brand will reflect the merger and make it obvious what consumers can expect from it.
This is also a great time to rebrand if you or the joining company has undergone a little bit of negative publicity. When a company messes up – really messes up – the catastrophe will never be forgotten as long as you keep the same brand or that of the joining company. For everyone involved, it’s best to have a fresh new look.
If you’ve been in business for a while, you are probably ready to start profiting on a larger scale. When you give your brand a facelift, people will be more apt to spend the higher prices you’re proposing.
Humans are drawn to what looks nice. If a brand is pleasing to the eyes (the colours on the logo, the easy-to-navigate website, the professional font on the business cards) consumers are okay with spending the price you ask. When your brand is aesthetically pleasing, people will trust you.
Want a higher profit margin? Rebrand.
Is rebranding a good idea? Yes, especially when you have these six telltale signs. Remember to always keep your brand fresh and modern, keeping up with the times. If you have been thinking about it already, that’s probably another sign that it is time.