When Should I Rebrand?

Knowing when to ask the right questions is key for innovation and development. Businesses rarely grow unless they are flexible, adapting to the times, and to what their customers need. Constantly asking questions and getting feedback is what creates smart business evolution. 

Businesses rebrand for a number of reasons and I’ll review the main 5 below. But you know your business better than anyone! If something just doesn’t seem right or you’re struggling even when you know you have a great product/service offering, it pays to talk to a strategist or branding professional to flush out any potential issues.

5 Reasons Businesses Should Rebrand:

1. When your industry/market is evolving. You should rebrand when your company is getting left in the dust because your industry has experienced dramatic changes and shifts. Just like technology can make your computer outdated and useless, your business can’t be competitive if your competition has moved with the current times and you’re still rockin’ that old 1990s vibe. You don’t have to change everything about your brand and announce that you’re now “the cutting edge company,” but you do need to stay relevant and be able to connect with the minds of the times.
2. When you cringe every time you hand out your business card or website address. It happens to a lot of new businesses. They are on a bootstrap budget and just need a logo and a simple website to begin gaining exposure. But then time happens and the consequences of not taking brand development seriously starts to actually hurt your business. Trust and confidence often begin with how your brand is represented. If you don’t look like you know what you’re doing, how can you expect your customers to take you seriously and trust you? In this situation, it may just be a brand refresh that’s needed. It may be that your strategy is good, your product/service is good, and your customer service and culture is solid. You just need your visuals to reflect that.
3. When your business model or strategy has changed. With recent events, there’s been a lot of thought-shifting at many businesses – car companies retooling machines to make PPE products, small entrepreneurs that are more nimble and can shift to solving problems big companies can’t, home goods and home supply stores having record-breaking profits and thereby having the resources to advance into new territories. Outside forces can either catapult businesses into new directions or businesses must innovate to maintain market share. Either way, when your business model has changed for the long haul, your brand must change as well. And the best place to start that change is with your brand compass: the foundation of your company’s mission, vision, purpose, and values. Once that’s solidified, any visuals that need adapting should follow.
4. You need to ditch a negative image. Just as we teach our children how their social media footprint can have future, real-world ramifications, it doesn’t seem to take much to turn a somewhat unknown brand into a virtual hot potato. When negative associations or an old image is wreaking havoc on business growth and advancement, it’s time to rebrand. A comprehensive audit of all brand aspects should uncover insights as to where the negative perceptions live.
5. Your brand has become complicated and/or disjointed. Over time, it can be hard for brands to stay focused as their business grows and their industry environment changes. The more complex a brand, the harder it is to capture the connection, interest, and trust of the customer base. Unfocused brands result from rapid, unchecked growth or just mismanagement along the way. No matter how it happens, you should start by checking your value propositions and relevance to your customer base. You need to simplify and focus to get back to an authentic state. If your company has become a hodgepodge of offerings, it’s time to rebrand, reexamine the narrative, and regain the effectiveness of your brand.