There is something tantalizing about the idea of rebranding for many marketers. It’s also a time-consuming process that requires careful consideration before you start. Although rebranding can be a fresh start, it isn’t always beneficial or necessary. No matter how much you dislike your brand’s logo, you don’t have to change everything.
You can hurt your reputation and bottom line with a disastrous rebranding. “If it ain’t broke, don’t fix it.” But if you are planning to rebrand, when is the right time?
There are 7 signs that a rebranding is needed
Note: Although these may be relevant, no decision should be made without extensive research, serious discussions with leadership, and a solid execution plan.
1) Your appearance is similar to everyone else’s in your industry.
As industries change and evolve, savvy brands make it their business to keep up. Brands often tend to copy one another. Nothing stands out, nothing differentiates, nothing is original. Rebranding can cause brands to look similar as they attempt to one-up each other.
You don’t have to change your logo just because your competitor has. Reactionary rebranding feels unauthentic, basic, and unoriginal.
2) You’re targeting a new audience.
You may be trying to attract a new group of people, but your branding isn’t set up to help you reach them.
A rebrand may be the best choice in this case since it speaks directly to the people you’re trying to reach. However, you don’t want to alienate your existing customers. Your rebrand should enhance your brand identity in a way that appeals to both existing and potential customers.
3) You have expanded.
Success comes with the urge to expand, regardless of the industry. Most brands, however, have identities that don’t reflect their current brand strategy. Logos that are too cumbersome or product-specific may not adapt well to the web.
Your company probably needs a rebrand that is modern, flexible, and future-proof if you haven’t done one since your founder’s great grandfather started it.
4) Outdated branding.
Brands rebrand primarily for this reason. Rebranding may be the answer if your brand looks and feels stale and you’re embarrassed to visit your website.
Industries that evolve quickly face this problem. Rebranding is understandable, but there is a difference between an old logo and an outdated logo. Before throwing out a well-established brand, do solid audience research first.
5) Your values aren’t reflected.
People want brands whose values align with theirs. Your core principles should be clear if you have crafted a strong brand strategy and articulated your Brand Heart (your purpose, vision, mission, and values).
Your brand identity may not reflect your Brand Heart if it has evolved or was not adequately articulated when it was created.
6) You’ve experienced bad press.
Bad behaviour cannot be covered up by good branding. Rebranding might help you move forward if you have found yourself in hot water and have taken steps to make things right.
7) Your company has merged or been acquired.
It makes sense to rebrand your business after a change in ownership or partnership. This type of rebranding, however, should be done with care.
Remember: Don’t rush into a decision.
In accordance with your brand strategy, rebranding might be a good idea for you. You should approach your rebrand methodically and strategically if you decide it’s the way to go.
You can help things go smoothly from start to finish by following our rebranding tips.
Make sure everyone is on board. Your team needs to be aligned before you begin.
Explain the reasons behind your rebranding. After reviewing the reasons above, you should know exactly why you are rebranding. Throughout the process, ensure your team understands the reason for the decision, as it will influence their decisions.
Get your team together. Create a brand team to guide your rebranding.
Ensure that best practices are followed. There are a lot of little things that can cause big problems during a rebrand, so learn how to avoid them.
Take inspiration from other brands. Make life easier by using tools.
Rebranding can take time but if you need help at any stage, bring in reinforcements, follow these tips and maybe our blog about brand strategy can lend a hand too.