Rebranding your company… what a daunting task, right? While it seems so much easier to stick with what we have been using for so many years, change is inevitable. The nature of the marketplace constantly changes so, at some point, a company or a business will really have to rebrand itself.
Rebranding doesn’t always mean a complete makeover. If your company has built a solid reputation already, subtle transformations like livelier colors, modernized fonts, and graphics will make a huge impact. It shows your commitment towards innovation and evolution
Your brand gives your business its face and voice. It’s the first thought that comes into a consumer’s mind when they hear your company’s name. It should fit the image you are trying to portray and should be aligned with your mission. If those are not closely aligned, then a rebranding should definitely be in order.
So, is it time to rebrand your company? Perhaps these reasons will help you decide:
Your brand gets drowned out in the crowd.
Are your competitors standing out more than you? One of the goals of branding is a competitive differentiation from your competition. If your brand is not standing out from the crowd, change is a must.
You want to reach a new market or demographic.
Sure, your company may have been around for 75 years. The question is, are you attracting the crowd who has long perished or the ones with the purchasing power? To keep your business moving forward, it’s necessary to tap into a new market.
Your brand doesn’t align with the changing market.
Your company may be offering top-notch services or products, but you can easily be left behind because your brand does not resemble the cutting-edge technology and look of today.
You need to shake off an old perception of yourself.
If your brand or company has been associated with a different demographic, rebranding will attract a new customer base. Take Burberry, for example. In the past, their clothes became associated with thug wear, which caused their sales to plummet. With the rebranding and lots of marketing, they were able to change people’s perception and are now known as a high-end luxury fashion line.
Your brand’s name no longer represents its vision or meaning.
Sometimes, what seemed like a good, catchy name 15 years ago no longer applies to what your brand is trying to evoke. With cultural happenings you cannot control, a name takes on a different meaning. Take the word, “hook up,” for example. Before, it meant literally getting an appliance or device hooked up. Today, it means casually “hooking up” with someone. Another is “catfish.” While it’s still and will always be a kind of fish, catfish now also means someone trying to be someone on the internet to lure someone into romance or a sick fantasy. Now, imagine what millennials will think if your brand story is, “we’d love to hook you up” (for a tech company), or “harvesting catfish” (for a fish seller)! Definitely, a change is in order.
Rebranding takes a lot of time and thought, and time may be something you don’t have. Allow us to be a part of your brand (or rebranding) journey. Get in touch with us today!
