How do you know when it is time to rebrand?
– By #RSA
Making the decision to rebrand your business, no matter its size can be a stressful, time-consuming process. Not to mention, pulling off a successful rebrand can be difficult, and often times you might not receive the positive feedback you were hoping for.
Despite these possible challenges, rebrands are often a necessary step you have to take to give your business the boost you’re looking for. Rebrands give you the opportunity to reconnect with the values and mission of your organization. Sometimes it pays off to look inward and adjust your outside appearance. When your brand is something you stand by, it is easier to promote your business with confidence.
But looking inward is easier said than done. So, how do you know when it’s time for a rebrand? In this blog, RSA will discuss the five main reasons companies may consider rebranding, and why it may be beneficial to do so.
When you start creating a brand for your business the most important thing to remember is the vision of your company, your mission, and your goals. Using these factors as a guide will help you develop branding that aligns with your company’s values. A company whose brand reflects its business model is perceived as trustworthy by potential customers. If the focus, vision, or mission of your company has changed since your original branding, it may be time to consider a rebrand.
Think about all the changes your company has made since its inception. Analyze your growth, any expansion, or changes to your strategy and business model. Then, begin to look at where you are now and how you got there, what your company is passionate about, and how you serve your industry. By examining all these aspects of your business, you can begin to determine what a new brand vision and mission could be. Once you have crafted these new messages the creative behind your branding will begin to take shape.
Have you noticed the demographics of your target audience or customers change over time? If you answered yes, it may be time to consider rebranding. Additionally, if you want to attract a new demographic to expand your reach, you need to ask yourself if your current branding will attract that demographic.
First, start by doing some market research into the new customers and clients you are trying to attract. By paying close attention to their buyer personas you can gain a better understanding of what your target audience wants, allowing you to cater your branding to meet their needs. Look into the various demographics of your target audience. What is their age and gender? How do they consume content? What are their buying habits? What is the best way to reach them? By answering these questions you can begin to flesh out how you can target your rebrand to better serve your key demographics.
We all know that times have changed and with each passing year it becomes harder and harder to stand out amongst all the competition in your industry. That is why creating effective, memorable branding is more important than ever. If you’ve noticed that your branding is similar to other companies you compete with it may be time for a facelift. In addition, if you think your company identity is starting to look bland or boring, your customers likely agree, which could lead to you losing out on business.
It is also important to remember that a rebrand doesn’t necessarily mean you have to completely reinvent yourself. Focus on the parts of your branding that still work and carry that into your new branding. This can help you determine whether you just need a brand update or a complete rebrand. Look for a unique, authentic way to rebrand yourself that aligns with your company mission and stands out from what your competitors are doing.
With any business, there are going to be times when business is booming, and times when things are a little slow. However, if you are noticing a steady decline in new business inquiries or have noticed your sales starting to plateau, it may be time to look at your branding.
Again, it is important to remember a rebrand doesn’t always mean starting over from scratch. Do some research into which aspects of your branding are capturing attention and generating leads. At the same time, examine what aspects of your marketing strategy aren’t working. This way you can identify any weak spots and focus on improving those materials to help you find new business and gain new customers.
Many things can change over the course of a decade, or even over a few years. The business model of your company when you started may be drastically different from what it is now. You may have expanded into new markets, started offering a new variety of services, or changed the products you carry; these changes can cause your branding to appear out-of-touch with your current business structure.
One problem we often see is businesses stretching themselves too thin and getting involved in too many different things. When we spread ourselves too thin our brand representation begins to appear scattered. It can be helpful to take a step back and evaluate what your company really excels at, and then pare your services down to these key organizational strengths. It is better to do one thing really well than five things poorly. After you have determined the new direction of your business model, you can reshape your branding to realign with your true mission and goals.
As we said, the decision to rebrand can often be a nerve-wracking, difficult decision. But it is often a necessary step you have to take to keep your business relevant. If you are struggling with your rebrand give Robert Sharp & Associates a call at (605)341-5226. Our team of specialists can help you outline your goals, design your creative, and announce your rebrand to your target audience. Check out this blog article on how to build a memorable brand.
Last Modified:
