For many businesses, there comes a time when the brand needs an update. After all, there’s nothing worse than portraying the wrong image to your customers. However, before you embark on this path, it’s wise to review the rebranding definition to get a sense of what this will entail. The decision shouldn’t be taken lightly, even for small businesses, as it will play a big role in the future of your company. If you’re unsure whether you’re ready to rebrand, here are some signs.
Your Brand Looks Outdated
Trends move quickly, and while some brands continue to look relevant through time, there are plenty more that look tired and outdated. If your business fits into the latter camp, now may be the time to do something about it. If you cringe at the look of your business cards or website, it’s a clear indication you need to act. A rebrand is the most radical of overhauls that you can put your business through.
Your Name No Longer Reflects Your Company
What seemed like a great name when you first came up with it may now feel like it is holding your business back. Perhaps a change in general lexicon has tarnished your business name and it is time for a new one. Or maybe your name confuses your customers. Of course, not all businesses change their names when they rebrand, and you need to ensure that this is definitely the right decision for your business as it will lose its recognition overnight.
Your Business Has Gone Through Major Changes
All businesses go through changes during their lifespan, but some of these are more radical than others. Perhaps you have recently gone through a merger or you are planning on offering some entirely different products and services. It could be that you want to celebrate an anniversary or mark some other major event. Whatever the case, a rebrand can prove to be a great way to signify that a major change has occurred.
You Are Trying to Reach a New Audience
All brands have the power to target different audiences, and if you are trying to move into a new market, you may decide that the best way of doing this is by updating your brand image to make it more inclusive. However, you need to be careful that you don’t risk alienating your core clients when you make this change.
A rebrand is not a decision which should be taken lightly, but it can end up reinvigorating your business if done properly. Make sure that you have your reasons clear in your mind before settling on this course of action.
