Rebranding, When is the Right Time?
When is the right time to consider rebranding?
If you’re finding it difficult to communicate a clear message to your target audience, about what your company is all about, then rebranding might well be a sensible option.
You want customers and prospects to immediately understand the quality of the products or services you provide, as well as your credibility. Good branding goes a long way in achieving both of these aims. It also inspires people and motivates them to discover more about who you are.
Many businesses rebrand at some stage or another. Whether it’s merely the subtle transformation of an existing logo and company colour scheme, or a complete overhaul of your entire identity, rebranding your business can lead to continued success in an ever-changing marketplace.
But do you need a rebrand now, or can it wait? When is the right time to consider rebranding? Here are some signs to look out for:
You attract the wrong type of customer
Tired of low profits? Frustrated with inappropriate clients? Desperate to attract a better type of customer? Poor branding can leave a business competing on price with every other seemingly average business in the same sector. When you don’t stand out in the marketplace, price becomes the point of difference.
Whether a relatively new business or an old one, a rebrand can position your company in a fresh light and lead to increased sales and conversions. Good branding accurately reflects the standards of your company and connects with your ideal customers who are willing to pay good money for what you offer.
Your brand no longer accurately reflects your business
A business naturally evolves and over the years it changes, expands, and develops into something different than it was when it first began. New products or services are created, and as success blossoms, so does the nature of your company.
The original brand you started off with, which was perfect for your original small business, now seems an inaccurate reflection of what you do. It no longer communicates the products, skills, ethos, and identity of what you and your team are all about.
You love your company’s evolved identity and you want this to be clearly conveyed.
Your current brand design looks dated
What looked good ten or twenty years ago usually looks dated now. Developments in design, technology, and marketing mean brand design has had to evolve just as quickly in order to adapt to the ever-changing realities. Even the huge brands, whose logos and colours are so distinctive, have gradually modified their look over the years.
An outdated brand image makes your business look behind-the-times, and will likely impact on the type of customers you attract, not to mention conversion rates.
An updated brand will portray you as modern, innovative, dynamic, competitive, and in tune with customer needs.
You need to adapt to a changing market
It’s not just the nature of your company or the standards of brand design that change, so does your market. As living standards, lifestyle habits, technological innovations, societal norms, and so many other variables change, your business needs to adapt along with them. This means modifying or completely overhauling a brand that is simply being left behind.
Being competitive is a vital facet of a successful company. If your business is finding it difficult to compete then a new brand can help you become more competitive in an evolved market. The revitalization of the brand will breathe new life into the company’s narrative, and connect with the market as it is now and not what you wish it still was.
New ownership requires a new direction
Acquisitions, mergers, expansions, and wholesale changes in ownership and staff, can mean there’s a misalignment between what the company’s identity was before, and what it is after, the seismic developments. Even with the best intentions to retain a brand, new owners soon discover new directions that best suit their goals, preferences and experiences.
To avoid a damaging mismatch, a rebrand might then be required, whether with subtle modifications or with a complete overhaul.
Even small changes within a family-run business, for example, can spark the need and desire for a rebrand, which better reflect the changing identity of a younger management. Internal branding is just as important as external branding.
Your existing brand is too complex
The more complex a brand, the less successful it usually is. When people need to think too much in order to decipher what a brand represents, there’s a need to simplify the brand’s message and look. Overly complicated branding confuses prospects while a strong, targeted, and crystal clear brand delivers exceptional benefits.
If your conversions are not what you want them to be, and people comment they don’t understand exactly what you represent, then a brand simplification might be needed. Simplifying a brand image could even require the simplification or refocusing of existing services and product ranges. This tightens the focus of the business and strengthens the effectiveness of marketing campaigns
You no longer attract the top talent
The most talented professionals look to work with the best companies. If your brand is shoddy, outdated or confusing, then the most skilled and qualified candidates will be put off. This means you lose out on the top talent which would have benefited your business as well as boosting their own careers.
If you’re frustrated with the lack of qualified and skilled people asking to work for you, it might be time to see if your brand needs a little realigning.
By improving your brand, you attract the perfect candidates who share your professional ethos, vision and drive, and have the skills and abilities to really move your business forwards.
Whether the time is right or not, it’s important to remember that a rebrand needs very careful consideration and planning. Any brand, over time, acquires what is commonly known as brand equity. People become familiar with how a business looks and presents itself to the world.
Loosing this recognition can be damaging. Most rebrands take what already exists and gently rework the various elements so they are still recognizably that of the particular company. They’re just more in-tune with contemporary styles and marketplace changes.
Is it time for your business to consider rebranding?
If you’re looking for a design agency with an open, honest approach and a down to earth attitude, we’re ready to discuss your needs.
Or head over to our featured case studies and view one of our recent rebranding projects.