Rebranding is a big deal, and it shouldn’t be done lightly. But sometimes, the time is right. When should you consider rebranding your business? Here is some advice from the experts.
1. When something has significantly changed in your business.
Businesses evolve, and there can come a point at which you are a different business than you were a few years ago. Maybe you’ve expanded into new areas. Maybe you’ve had a growth spurt and your local brand needs to grow with it.
2. When your customers have changed.
Not only do brands change, but also their customers change. McDonald’s customers have become more health-conscious, for example. Harley Davidson’s customers have gotten younger. With these changes have come significant changes in presentation of the brand. Has your customer base gone through a significant and long-term change? If so, does this need to be reflected in your branding?
3. Your visual brand looks stale.
Eventually, even the best visual branding begins to look dated. What looked cool in the 1970s isn’t going to play today. Color trends, fonts, logos, and entire brand representations need a makeover every once in awhile. How long has it been since your brand had one?
4. When customers have lost engagement with your brand.
Customer engagement can often be recaptured with fresh, new ways of marketing, but sometimes, there is something about the branding that no longer connects. If you can’t get sales out of a slump, maybe new branding can help prospects see your products with fresh eyes.
5. You look like everyone else.
When you opened your business in a hot new market 10 years ago, you were unique. But as new competitors poured into the space, that uniqueness is disappearing. If you are no longer standing out from your competition, fresh branding can help you break through.