If your company has been around for a while, you might be thinking about rebranding. In this digital age, it’s important to keep up with the latest trends and stay relevant in the eyes of consumers. But why should you rebrand your business? What will it do for your business?
Let’s talk about what to consider and when it really is time for a rebrand in the new year.
Reasons to rebrand a company
The reason for your rebrand is a key factor, and it usually fits into one of these categories:
Your business is changing, growing or developing, and your brand needs to reflect that change. This may include adding new products or services that require a new marketing strategy. It could also mean expanding into a new market—like targeting people in Asia instead of Europe—and creating content that resonates with the local culture. Rebranding can help you define this strategy by defining your target audience more clearly, which will then inform how you create content for them and where you distribute it online.
When customers first interact with your business, they have an impression based on everything they know about it so far (or don’t). They might think that because you’ve been around since 1999 that they can trust everything else about what they see across all channels—but if all their interactions keep pointing them back to outdated information like an out-of-date logo or outdated mission statement on your website homepage, those impressions get shaken up pretty quickly! A clean slate will allow people who aren’t familiar with who we are now (and why) better understand who we’ve always been as well as where we’re going next.“
Is it time to Rebrand your business?
Reviewing your purpose.
In order to rebrand your business, you need to determine its purpose. What is the purpose of your business? Why do you exist? What is the vision that drives everything you do and say?
In order to answer those questions, it’s probably time to go back to basics and review your goals, values and mission statement. Are they still relevant today? Does their meaning resonate with who you are as an organization now? What has changed since you wrote them down originally (maybe not just from a branding perspective)? If anything feels out-of-touch with who you are today or if some things feel outdated or too limiting for how far along we’ve come in our industry/marketplace/community over the last few years—it’s probably time for a major rebranding overhaul!
Once you’ve done this internal soul searching about why exactly “you” exist as an entity in this world (and what that means), then it’s time for another round of asking even deeper questions: Who are our customers and clients really? How can we better serve them than anyone else does right now (or ever has)?
- The importance of consumer perception.
- How to determine if your brand needs a rebrand.
- How to change consumer perception of your brand.
- Examples of brands that successfully changed their image and/or identity
Shareholder perception is a key factor in deciding to rebrand. Shareholders are your business partners, and they expect you to take their investment seriously and make it worth their while. If shareholders can see that you’re running your company with care, they’ll be more likely to keep investing in it.
A well-thought-out rebrand can help you do this by improving your reputation among investors, clients and other stakeholders in the public eye. It’s also a way of giving yourself a new lease on life—a chance for change that shows how serious you are about moving forward with fresh ideas for growth and improvement.
Reaching newer, bigger audiences.
Rebranding can help you reach new audiences, new markets and new demographics.
If you’re a local business in a small town with a loyal customer base, rebranding won’t be necessary for you. But if your company is looking to expand its customer base or attract more attention from potential new customers, rebranding can be a great way to get there. You’ll also have an opportunity to increase brand awareness among current customers in the process of rebranding!
Mergers or acquisitions.
If a business is acquired, it can be a good idea to rebrand. This allows the new company to start fresh and make its own mark on the industry. Employees are also likely to be more engaged when there’s not an existing brand that needs to be changed by its new owners, so it’s in their best interest as well.
A merger might not require a complete rebranding, but it may still be worth considering if you want to strengthen your position in the marketplace or create an improved customer experience for them.
A mission statement move.
Your mission statement is the perfect tool to help you stay focused on the things that matter most. It’s a short and sweet way to explain your brand’s purpose, values and goals. With this in mind, it makes sense for businesses to take a step back from time to time and ensure their mission statements align with their current business strategy.
Keeping up with current trends.
If your business is still relevant and growing, it may not be time yet to rebrand. However, if you are concerned about the longevity of your brand, it might be time to consider updating it. While changing brands can be expensive and disruptive for a company, it can also have great benefits. By keeping up with current trends in your industry and making sure that your business’s image reflects those trends, you will ensure that your brand is relevant to the audience you are targeting.
If this seems like something that might be beneficial for your business but there aren’t any major changes coming up soon, go ahead and ask some customers what they think about the company’s current identity before making any decisions about whether or not to rebrand!
- Rebranding is a great way to reach more customers and grow your business.
- Rebranding is not just about the logo, but it’s also not just about the website. Rebranding is about the entire brand experience.
- The best way to rebrand your business is by creating an emotional connection with your audience through every touchpoint they have with you: from website design to social media posts and even how you interact in person.
If you’re considering rebranding or if you’ve already started down that path – don’t go it alone – reach out to us today!
While rebranding can be a risky move, it is also one of the most effective ways to grow your business. In order to make sure that this is right for you and your company, it’s important to consider all aspects of your brand before making any decisions. There are many reasons why companies choose this path, and we hope that our list helps you narrow down what would be best for yours!