A rebrand is a natural cycle many brands experience, but how do you know when it's time to rebrand your business?
A rebrand is a process of revamping how a business or product is perceived by its audience. It can include the reinvention of everything from a brand’s name to its logo and visual identity to its website and marketing collateral.
Why rebrand in the first place? There are many reasons why a company may consider rebranding. First and foremost, a strong brand identity makes it more likely new and returning customers will choose your product or service over your competitors.
Here are five common signs it could be time to rebrand your business
1. Your company vision has changed
Has your company had a change in direction? This is one of the biggest signs it might be time for a rebrand. If your company has shifted focus, expanded, or the business model and strategy have changed, your branding should follow suit.
A rebrand will set you up for success and help bring the future of your company into focus.
2. Your brand name no longer reflects your brand vision
What seemed like a great name 10 years ago now no longer represents what your brand is about or sometimes the name just doesn’t feel appropriate for the brand’s next iteration.
A strong name is the foundation of your brand story. It should be unique, differentiating, and, above all, memorable.
3. You’re embarrassed to hand out your business card or website address
If you cringe when you reach for your business card, or if you feel like your website should come with a disclaimer about needing to be updated, it’s probably time for a rebrand.
Being embarrassed about your brand doesn’t always indicate the need for a comprehensive rebrand. It could be that a few of your brand touchpoints such as your website simply need a refresh.
4. You’re struggling to differentiate yourself from the competition
Another way to know when to rebrand is when your brand starts looking like every other brand.
A rebrand can help you identify and redefine your key differentiators, including your competitive advantage: the thing you do better than any of your competitors.
5. You’re trying to connect with a new audience
If you’re trying to get the attention of a newly profitable audience, it’s probably time to rebrand your business.
Creating brand loyalty among new audiences starts with ensuring your brand is relevant to the needs, motivations, preferences, and buying habits of new and existing customers and adjusting your brand experience accordingly.
So, you’ve decided to rebrand. Now what?
Once you’ve decided to move forward with a rebrand, there are a few important things to keep in mind. If you’re going to invest the time and money it takes to rebrand, it’s worth it to do it right.
Define your goals, budget & timeline
It’s important to set specific, achievable goals for your rebrand, as well as a realistic timeline and budget. Cost and time are different for every rebrand, depending on the size and complexity of your business.
Find the right Brand Designer
One of the most important steps in preparing for a rebrand is choosing which designer to partner with. Ideally, you’ll want to find an agency skilled at both strategy and creative execution.
To learn more about how we can help you achieve the rebrand you have been dreaming about, get in touch!
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