Everything about your brand should help communicate who your business is and what it stands for. Whether you have a new and exciting vision for your company or you want to alter what customers think about your brand, products and services, then it could be time for a change.
But it’s not a decision to be taken lightly as it involves careful planning and consideration – not to mention innovation.
Let’s take a look at some of the tell-tale signs that indicate you could be ready for a rebrand.
5 Reasons to Rebrand Your Business
1. Audience Reach
If you started your business unsure of who your target market was and how you could engage with them, then it could be time for a change. Your brand needs to appeal to your target market and if you’re now in a position to know who your customer is and what they need (and of course exactly who you are these days), then make sure you rebrand to reflect your all important evolution.
2. Staying Relevant
The last thing your business needs is for its products and services being undersold by an old logo or branding. It could be time to update if your brand is losing appeal with your targeted demographic or it doesn’t differentiate your business. Take a good look at your image to see if it needs to be refreshed to increase appeal and help you stay current and relevant in an increasingly competitive marketplace.
3. New Offerings
It is important to update your branding if your business has changed beyond its original products and services. You need to reflect the evolution of your business, particularly if you expand or contract your offering and change your position in the market as a result. If you have a shift in business activity then you may need to consider a name change and a rebrand is ideal to reflect the new you.
4. Company Merger
If you have acquired a new company or joined forces with another business, then a rebrand will be just the thing to set you on the right path to success. Updating your branding is a great way to reflect a merger or acquisition including any changes to your brand values and philosophies as well as establishing your new business direction.
5. Negative Publicity
In today’s online world, negative associations can occur fast and furiously with anyone able to post on social media. A customer who is dissatisfied has the potential to inflict permanent damage on your reputation. If your business encounters this type of backlash then you many need to assess whether it’s time for a rebrand to shed any negative perceptions and start afresh with a new brand identity.
For advice on successfully rebranding your business, contact the team at your local Kwik Kopy today.