Change is constant and with that, growing businesses need to change with time too. There might come a time when the shiny lustre of your business/brand has worn off and it is important to get conscious of it and take the necessary action. A rebrand can take on many forms – from a new name, to a redesign of visual identity, or simply an iteration and refinement on a current identity. If any of the following situations have crossed your mind, there is a good chance that it is time for a rebrand.
1. You have expanded from your original scope – If you are introducing a new product or service or re-launching an existing one, it may be that you have a new vision with a new message in a new market talking to a new audience. It is imperative to appeal to your target audience and stay relevant to them at all times. Your brand might have been called Rockin’ Shoes but if you’ve introduced clothing to your profile as well, you might want to consider the change.
2. Your branding and designs are dated – The world moves quickly (approximately 67,108mph around the sun) and what was once trendy could now be outdated. You are constantly in competition, with new companies offering the same/similar products or services and hence, it is important to be up-to-date with your design, strategy and messaging. When you started your business 2, 5,10 0r 50 years back and you paid your friend or brother $20 to put together a logo, or maybe did one yourself. It was perfect back then with the latest fonts and colours but with the evolution of your product/service quality, your current branding and logo does not do justice to it and is being undersold. A redesign of your brand can be subtle or extreme but keeping up with the times can deliver greater results.
3. Messaging is complicated – Are there discrepancies between what you offer and how you are perceived? If people are not quite sure what your company does, it may be that your message is not being translated to your customers effectively. This may be down to your brand identity being overly complicated, or combined with many different visuals and marketing messages. A new brand with a simple message can give consistency to your company’s voice and create the right engagement with customers. Branding is all about building a reputation around your message. And the reality is that your message is going to evolve as your business grows and evolves.
4. Your brand is forgettable – If you’re not getting many return customers, it may be that they don’t remember you – even if they loved your product. This could be down to your brand identity being overly complicated, difficult for customers to remember any one thing, or too generic that it isn’t recognisable in the array of brands we see everyday.
Rebranding with focus on delivering a memorable experience can increase the recognition of your company, differentiate from other similar players, building familiarity and trust with your products and services.
5. Your business has gained a bad reputation – This is a sensitive one but if you think it exists for some reason, it is better to own up to it than ignore it. Clients do understand that mistakes happen and they are ready to forgive and move on if you give them the opportunity to. An update in the brand can show that the vision of the business has changed, that not only have you addressed the issue(s), but that you are learning from mistakes and are moving forward.
The bottom line is you should know why you’re rebranding before you decide to do it. Make sure the exercise is for valid and good reasons. It’s not about trying something new, throwing it against the wall and see if it sticks. As with everything in your business, you should be clear, focused and intentional.
Article by Tanushree Garg