Is It Time for a Rebrand? 5 Signs That Point to Yes
Ever felt like you’re due for a haircut? Or maybe you’ve noticed that you’ve been wearing the same shirt one too many times.
When these moments occur, you go for that haircut and shop for new articles of clothing, right?
Brands are no different. Whether they have become stagnant or their current branding doesn’t reflect their values, brands need to reinvent themselves at some point.
But not every organisation should undergo a rebranding. You must keep in mind that rebranding is a costly and time-consuming process, one that requires plenty of research.
If you rebrand and it ends up alienating your customers further, you will only be wasting resources. So, how do you know if and when you should rebrand? Here are a few signs to look out for:
You’ve hit a plateau in your growth
A continuous drop in sales and slowing of inbound leads mean that your brand has stopped growing. That may be because your customers cannot relate to your brand anymore.
When this happens, you can capture their attention again through rebranding.
Start small, from something as simple as a tagline. Then, have your marketing team test bigger changes such as your logos.
Your target audience has changed
As your business grows over time, the target audience you had at the beginning might not be the same audience you are or planning on catering now.
With the change of your target audience comes the need to change your branding. It is an essential step to connect with your new audience and keep them engaged with your brand.
You might need the help of an SEO service provider to ensure your audience recognises you, especially if you run an e-commerce website.
You need to disassociate from a negative image
While you work hard to keep your reputation pristine, something might happen that can drag your brand through the mud.
Unfortunately, with the internet, it doesn’t take much for this to happen. A single tweet or one bad review can ruin your reputation.
Rebranding helps fix this problem, effectively dissociating you from the negativity your previous brand was tangled in.
You’re not proud of your branding
Some businesses start as a side project with your garage as your HQ and your mum as your accountant/legal advisor/customer service representative. But then, your business has grown and the branding you did when you started, from the logo to the website, and your actual brand’s name may be outdated or outright cringe-worthy.
When this happens, it might be time to rebrand with something you’re more proud of to call your own.
You have outgrown your brand
Probably the best reason for rebranding, outgrowing your brand is a great problem to have.
That means you’ve grown more than you thought possible, and now you’re competing with brands more established than you.
At this point, a rebranding might be necessary to boost your growth further and reflect your business’s updated values.
Your brand is how your customers recognise and define you. Without a strong brand, you will be just another business out there. So when you notice some of the signs above, study your audience and rebrand accordingly.