When is the right time to rebrand your business? It’s a question that plagues many business owners. Many entrepreneurs believe that a company’s brand is simply the name and the logo, but this couldn’t be further from the truth.
Your business brand is the sum of all of the experiences that your customers have with your company. Good branding will communicate what your business does and build trust and credibility to your customers.
Rebrands can be time consuming, expensive and there’s always a chance that the end result won’t live up to your customers expectations, so why take the risk?
What’s in a rebrand?
In simple terms, a rebrand is the act of redefining how your business is portrayed to your audience. It could involve changing your logo, changing the name of your company, modifying all of your marketing materials or you could start completely from scratch and re-do everything.
Both partial and full rebrands have their pros and cons, a full rebrand can breathe a breath of fresh air into a business who are battling with an outdated image whilst a partial rebrand is easy to manage and doesn’t change the core of the company, it merely alters the way it’s perceived by the target audience.
How to successfully rebrand your business.
Rebranding your business takes planning and a key vision about the future of your company. Whilst we could talk in depth on which route to take, here are a few key points to think about when planning your rebrand.
- Research what your customers want and research your competitors to see what they offer
- Develop a clear mission statement
- Create a plan for how your business will change after your rebrand
- Create new marketing materials such as logos, websites and printed media
- Test everything, get outside opinions, conduct surveys and implement the feedback they bring.
When should I rebrand my business?
Most businesses should evaluate and look at their branding every 5 or so years. When critiquing, ask yourself if your current branding encapsulates everything your business offers?
There are however, a few key moments when it is a great time to rebrand. For example:
- When you have surpassed your initial business goals
- When your message or strategy has changed
- When you are trying to distance yourself from an outdated image
- When you are trying to appeal to a new demographic
It’s also worth getting an outside opinion, is your branding going stale? Every company goes stale sooner or later. If sales are lagging and you are out of ideas, changing up your colours or logo can feel like a breath of fresh air to the consumer.
Whether you’re ushering in a new era of your business to the world or you want to introduce your company to a new target audience, consider rebranding carefully so you can be future proof and remain relevant in the years to come.
If you’re considering a rebrand or would like to discuss if now is the right time for you then please don’t hesitate to get in contact. We have decades of experience helping businesses create their perfect brand and translating that to all of their digital and physical assets.