Is a fresh rebranding in order?
Rebranding is a scary concept, but one that should be considered under certain circumstances. It takes a lot to rebrand if your business is already established, and that work definitely pays off, because it can help get you to the next level. Here are some signs that it is time to rebrand and move along with how things are changing.
Rebranding Question: Is Your Logo Outdated?
Have you had a logo for ten years that is no longer relevant? If so, it’s time to switch it up. Whether you chose a trendy logo at the time that is no longer a trend, or it was created by a family friend for free and you just don’t like the quality anymore, you should get a new one. Needing a new logo is a sign to update your entire brand, instead of just the logo.
Rebranding Question: You Have Changed Direction?
If you have decided to change direction and focus of your business, that is also a sign that you should rebrand. Your logo and current brand is for your old direction, but any time you change focus enough for others to notice it, consider changing your entire brand. There are small and large companies that have changed their direction over the years, and wanted to represent the new objective.
Rebranding Question: Is Your Business Prepared for Growth?
When you are planning for growth in the future, now is the time to rebrand your business. If you fail to do so, it could affect your growth in the future. You need to have your brand reflect your business and where it intends to go, not just where it is now. If you want to have multiple aspects of a business reflected in the future, prepare for it now with your new brand.
Rebranding Question: Is Your Target Market Shifting?
You may also find that it is your target market that is shifting. Demographics do change over time, where the people you are advertising to is not the same as when you started. This is why you should continue doing market research and find out who your demographic is and what they want. Just because you had a demographic of women in their 30s and 40s 10 years ago, doesn’t mean you don’t have a younger audience now. This is a perfect time to rebrand.
Rebranding Question: Have you Had Expansion or Change in Ownership?
Finally, if you have a change in ownership or expansion, this also calls for a rebranding. Not every business will decide to change their entire brand, sometimes just minor changes. This really depends one exactly how many changes are occurring after the change in ownership or acquisition has taken place. If you are simply expanding and adding partners, your current logo and brand might suffice.
Rebranding could mean adjusting minor things, like logo designs or a new website, while others require an entirely new brand altogether. Work with a marketing expert to determine what will be the best fit for your company.
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