Is Now The Time For A Business Rebrand?
Is it time to rebrand your business? You might think that a rebrand is going to be expensive and largely unnecessary. It’s possible that you also suspect it will hurt your sales. However, if you rebrand at the right time, it can have startling benefits. Let’s look at some of the signs that you need to think about rebranding and the factors you must consider.
Your Current Brand Isn’t Working
This is probably the most typical reason for a rebrand. Your current brand profile isn’t working for you and this can be for a variety reasons. For instance, it’s possible that your brand is not sending a clear message about what your services are or what you can offer to customers.
If you’re confused with what you do and emulate in your marketing, imagine how your customers and targeted audience feel. The time is now, to find out if you’ve got it wrong.
Seek To Understand
Ask your customers’ hard questions and supporters to get replies that help you change direction with your products or service or tweak your brand. It’s tough going through this process of essentially ‘letting down the guard,’ i.e. showing a bit of vulnerability. Still, while some response will be just critical and unhelpful, you only need a few replies that provide real insight into your current business and brand’s perception to get you on the right track to success. 🙂
Or, you might find that your reputation has been damaged. A brand could be damaged due to an online cyber attack, scandal, low-quality products or service or any number of issues.
Anything that has impacted sales and causes a dip in your business profits may lead to a need for rebranding. With a rebranding, you can address what went wrong and hopefully correct the situation.
Wrong Marketing Strategy
Perhaps you have been struggling to connect with your customers? If you see a low level of engagement, particularly online with depleting website visitors to your blog, and in social media, there is probably an issue with the marketing content, and it’s relevance with the audience in the channel you’re using, but it’s not always the reason.
Logo Brand Ugly
Often, though it really just is your current brand and the fact that it’s failing to resonate with your targeted audience. Therefore, there’s not a lot to lose by adding a fresh lick of paint to it. This is the fun part, as you get to start over with a more you logo. Act quickly, too, to stop customers from forgetting your business completely.
It’s also possible that you need to rebrand to compensate for a change in your business model. This could be a change in the leadership or management of your business. It might also be a fundamental change in what you will be offering customers and clients.
Obviously, if the products or services you are selling are changing, your images need to evolve. Some businesses and companies choose to wipe the slate clean when they reveal a new product line. Others will make simple, small changes that will show clients the key ways the brand is moving forward.
Perhaps your company has been known for one particular product or service which is now overshadowing everything else. The issue here is that all your other services and solutions are forgotten completely. Even if sales for that first product are through the roof, a rebrand will still be necessary.
Factors To Consider
You need to make sure that there is a plan in place for how you will complete your rebrand. This is not something that you can do without careful thought and consideration. Look at what areas of marketing will be impacted and how it will reshape your business model as a whole.
Furthermore, be aware that customers and clients will want to communicate with your business during the rebranding. They will be eager to learn about the direction that your business is now heading in and essentially, what it means for them. Keep things simple, straightforward and make sure your business is completely accessible during this time.
We hope you find this advice helpful when determining whether your business needs a rebrand.