Sure Signs It’s Time for a Rebrand
You’re unlikely to start your company thinking that you’ll need to rebrand down the line. However, there does sometimes come a time when you realize that it might be the best thing for your business. Rebranding can help you freshen up a stale image, and gives you the opportunity to relaunch your brand too. Deciding whether it could be time to rebrand isn’t always easy, though. It’s a big decision, particularly if you’ve already built up a recognizable image and a loyal customer base. So what are the signs that you should consider a rebrand?
You’ve Outgrown Your Beginnings
Businesses naturally need to start growing once they’ve been launched. When you first start planning for your new business, you think about what you want it to look like in the future. You decide what your mission is and what your USP is too. However, as your business grows, you can find that you learn a lot about the direction you’re heading in. If your original vision for your business is starting to look a bit immature or just doesn’t match what you want to do now, it could be time to rebrand and start doing things a little differently.
Your Brand Has Grown an Unwanted Reputation
Unfortunately, you can’t always have complete control over your brand. It can grow a reputation of its own, based on the type of people your products might become popular with. For example, fashion house Burberry ended up gaining an unfavorable reputation in the UK, particularly in relation to their signature pattern, forcing them to undergo a rebrand. If people don’t see your brand in the way you wish they would, you might need a branding agency to help you out. They can give you the advice and support you need to rethink things and get back on track.
You Need to Keep Up with Your Market
Some markets are fast-paced and what people want from brands can be ever-evolving. If you find that things in your market have moved on, you might need to rethink your brand to show that you’re able to keep up with your competition. People want to see that your brand is doing everything to be forward-thinking and innovative, and isn’t lagging behind. If you’re going to rebrand, you can’t just think about how to do it for right now. You need to think about the future too.
You’ve Just Bought Your Business
Some people build their business from the ground up, and some people buy it. If you’re the new owner of a business, you might be thinking about making some big changes. A change in leadership might mean there’s a need to rethink some other things too, such as the company’s mission and values. Of course, you should first assess what’s working for you and the business. There might be some aspects of the brand you want to keep, while others could need a revamp.
Rebranding your business isn’t a decision you should make lightly. If you’re thinking of doing it, make sure it’s for the right reasons.