There is more to your brand than your business name and logo. A good brand tells the story of what you do and how you do it. It establishes trust with your prospects and customers. A brand evolves over time, which is why even the most successful brands rebrand.
How to Know You Need to Rebrand
While rebranding is a part of the natural cycle of every good brand, it is important to know when to rebrand. Insights from brand strategy consulting reveal several signs and considerations that should inform your decision to rebrand
Your Business Has Evolved
As your business grows, you may have the opportunity to target and expand to a new market. A rebrand is one of the ways your new prospects and customers can connect with your brand. Rebranding is even more important when your brand name and visuals are closely tied to a specific location, which means they won’t work for the new location. In addition to geographical expansion, you will certainly need to rebrand when your strategic vision changes to include introducing new offerings and doing away with other products and services.
Your Branding is Outdated
If your visual branding feels and looks old and out of touch, it may be time for a visual refresh or overhaul. You may also want to revisit your visual branding if it doesn’t work well across different mediums. Away from the brand logo and colors, you may benefit greatly from extending the visual refresh to aspects such as your product packaging.
No Differentiation From the Competition
It’s time for brand strategy consulting and action when your brand looks and sounds like every other brand on the market. This lack of competitive differentiation may result from trying to mimic successful brands in the market or following the same branding trends. Either way, you know it’s time for a rebrand when customers struggle to tell you apart from the competition.
Mergers and acquisitions almost always involve some rebranding. Be it a change of name or updating the brand imagery, focusing on maintaining a cohesive brand architecture when rebranding because of mergers and acquisitions promises the best outcome for all the entities involved. Brand strategy consulting will help come up with ideas for a brand overhaul that best reflects the new business entity. The new leadership can also work with a personal brand agency to build and elevate their brand.
Need to Dissociate from a Negative Perception or Reputation
A business faux pas can quickly throw your business into disrepute, especially with social media fueling. Your business will definitely take a hit as target customers, investors, and other stakeholders choose to distance themselves from your brand because of the negative image. In this case, a rebrand may be the simplest yet effective way to get past this negative reputation and help everyone see you in a new light.
As outlined, there are several reasons why your business should consider a rebrand. No matter the reason, it is important to do it right. Working with business brands strategy consulting experts who will help you rebuild a solid brand strategy and redesign your visual identity gives you the best chance of doing your rebranding correctly. The Brand Terminal is a brand creation specialist that will leverage its strategic expertise to help you rebrand. Get in touch today and experience terminal velocity for your rebranding project.