When to rebrand your company
A rebranding is a process of changing the way a company or product is viewed. A rebrand might involve reinventing everything from a company’s name and slogan to its logo and visual identity, as well as its site & marketing literature. The most effective rebranding initiatives begin with research into current brand perceptions of internal and external stakeholders.
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The research phase’s data feeds the strategy or brand positioning phase, in which a brand is repositioned in response to client requirements and market prospects. Only once research and planning have been completed can a rebrand go on to the identity phase, in which a company’s visual and verbal identities are rebuilt. Logos, colours, typography, and photographs are all part of a company’s visual identity. Names, taglines, and messages are examples of verbal identity.
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10 Indications to Identify When Do You Need Rebranding
So, what’s the point of rebranding in the first place? There are several reasons to rebrand. To begin with, a strong brand increases the likelihood that your clients will select your product or service over the competitors. Remember, it’s not a matter of if, but of when your firm will need to rebrand.
You're Too Shy to Offer Out Your Business Card or Website Address
If you grimace a bit when you pull out your business card, or if your website should come with a note about the need for an update, it’s time for a redesign. After all, if you’re ashamed of your brand, it’s probable that others in your business are as well, which may significantly impact both external promotion and internal morale.
Your Brand Name No Longer Accurately Expresses Your Brand's Vision
A bad brand name is one of the clearest signals that it’s time to rebrand. It does happen. What sounded like a great name 15 years ago no longer reflects what your brand stands for. Changes in cultural environment can sometimes alter the meaning of a name. Sometimes the name just doesn’t feel right for the next incarnation of the brand.
Give Old Brands a Fresh Lease on Life
Smart businesses rebrand because they understand that good design can make or destroy a company and have outgrown their initial objective. Perhaps your company began by selling personalised t-shirts and has now expanded to include customised coffee cups. Customers will be unaware that you provide mugs if your branding focuses solely on t-shirts.
You’re Failing to Differentiate Yourself from the Competition
Another sign that it’s time to rebrand is when your company begins to resemble every other company. Ultimately, branding is all about differentiating yourself from the competition. However, you’d be shocked at how many businesses are unable to explain, let alone define, their critical differentiators. Sales and business growth may be incredibly difficult when you lack clearly identified differentiators. Both your staff and consumers must understand why your brand is better than the competition.
Your Company's Business Model or Strategy Has Shifted
When your business model or approach changes, this is another indication that it is time to rebrand. As we’ve seen recently, it’s impossible to forecast the external factors that may cause adjustments in your firm. However, if your business model or strategy evolves, so must your brand. The way your organisation is seen by the people it serves should always be consistent with how it functions behind the scenes. When it comes to adapting your brand to a major shift in your business, you should start with the basics: your brand compass. Any complete rebranding effort should begin with establishing your company’s purpose, vision, goal, and values.
Your Brand Has Become Overly Complicated or Diffuse
Is your brand experience disjointed or perplexing? Is it a mishmash of offers with no overarching brand narrative? If this is the case, it may be time to rename your company. Maintaining a brand’s focus over time is difficult, especially for large enterprises with numerous stakeholders with competing interests. Whether the consequence of unbridled expansion or just a mismanaged brand, a lack of brand focus offers major obstacles to your brand’s efficacy.
When You Need Some More Attention
Maybe sales have been sluggish, or maybe brand awareness initiatives haven’t taken off, but diving into a redesign is the incorrect option. You’ll produce some short-term buzz at best without the sales and marketing plan to sustain it. In the worst-case scenario, you’ll lose any brand awareness you had and jeopardise your sales and marketing efforts.
Attempting to Conceal a Catastrophe
To rebrand your company isn’t the answer if you’re dealing with continuous internal challenges or dealing with negative headlines. The majority of customers and workers are astute enough to see straight through your branding and identify it for what it is: a ruse.
Acquisitions and Mergers
When two firms join forces, two brands join forces as well. If your firm was purchased or merged with another, you can’t just let the two brands compete. Finding a new brand that accurately represents the new business will help to avoid confusion and establish confidence.
Your Brand Has Outgrown You
Knowing when to rename your company might be as simple as discovering you’ve outgrown your current brand. Even if you’re rigorous with brand management, you’ll eventually outgrow your brand’s original form. It’s not a matter of if, but rather of when. When rebranding to allow expansion, you don’t have to discard your entire previous brand. While your brand will most certainly have flaws, it will also have strengths that you will want to capitalise on in the future.
Every organisation will confront this issue at some point: How do you decide when to rebrand? The indicators that it’s time to rebrand may be found almost anywhere, whether they’re obvious or hidden in plain sight. The first symptom is often just asking if a rebranding is necessary. One thing is certain: rebranding is an inevitable component of every company’s growth. It’s not a question of if, but of when.
Whatever ultimately drives you to contact a branding business, you can be confident that you’re making the proper choice. With the number of quantitative benefits of rebranding, the investment is likely to pay for itself several times over in the coming years. There is no limit to what you may have designed at MyDesigns. Want to learn why brand important than your logo? We will answer it for you! Our wonderful team of skilled designers can assist you whether you need a beautiful new logo or some eye-catching flyers. Explore our website to learn about the many design services we provide to help your brand stand out from the crowd.