Did you know that there are more than 1.5 billion websites on the internet at this very moment? So as a business owner or marketer, you have a big job ahead of you.
You’re trying to do everything you can to stand out from the crowd and to perform better than your competition. But this can be easier said than done.
One thing to consider is your company’s branding. In fact, many businesses wonder if it’s time for a rebrand.
This can be a great strategy, but also keep in mind that it’s more than just getting a new logo or changing a color or two. It’s a full strategy shift that should be thought about very carefully.
To help you out, we’ve created this guide to help you know if rebranding a company is the right step for you. Check out these signs that you’re ready.
Your Brand Name Doesn’t Match Anymore
This is a common situation for businesses. 10 or 15 years ago, they picked out a name for their company. For a while it was great, super applicable, and it fit them.
But now, things have changed. Perhaps you’ve entered into a new market, you now sell additional products, or your values have changed.
If so, this is a great reason to rebrand. Don’t let your old name drag you down.
Your Branding is Embarrassing
No matter your company, you want your branding to feel consistent with your messaging. You want it to convey your core values. And you want it to feel professional.
But many companies created their logo, website, and other materials without the help of a marketer or graphic designer. This means that at this point, they might feel a little embarrassed by their brand.
If this is the case, don’t be afraid to do something about it. Take your future into your own hands by rebranding now.
You Want to Stand Out
This is another great reason for rebranding a company: you want to differentiate yourself from the competition.
Often, competitors in your same industry will brand themselves similarly to you in order to knock you off. Or perhaps your name and visual identity are generic and blend in.
In either case, it’s a great idea to rebrand. Think of how you can be unique. Consider what you want to be known for and how you’re different than your competitors.
Then, spend some time coming up with ideas about how you can convey that message through your branding. For more about digital branding, read this article.
A Merger or Acquisition Has Happened
Next, is your business experiencing a merger or an acquisition? If so, this is a great time to rebrand.
Think about how the acquired brand fits into the parent brand. Do they align? Often, they’re very different and this should be taken into consideration.
If this is the case, it might be a good idea to create a new brand all together that encompasses both identities.
Your Service Area Has Changed
Many small businesses start in one location and take inspiration from their geography. For example, it’s common to see companies that include the city or state in their title. Or maybe you’ve heard of companies named after local landmarks or geographical features.
While it’s a good idea to draw inspiration from your area because it can help you relate to the local population, what happens if your business moves or expands to other areas?
It doesn’t make a lot of sense for the Lake Michigan Cafe to open a new location in Arizona.
So if you’re expanding or moving, consider adjusting your branding so you can more easily appeal to your new audience.
You’re Going after a New Demographic
If you’ve traditionally targeted teenage girls but are shifting and now trying to reach men in their 50s, you’ll probably want to change the way you present yourself.
The fonts you use, the colors you include, and the way you speak about your products should all be adjusted when you target a new demographic.
This way, you have the best chance at really connecting emotionally with your target market.
Last But Not Least: Don’t Rebrand Because You’re Bored
Now for a reason you shouldn’t rebrand: you’re bored.
It’s a common scenario: you’ve been in business for a few years, things are becoming a little stagnant, and you want to switch things up.
This is not a good idea. You shouldn’t rebrand your business just because you’re feeling bored of your current branding.
While it’s normal to feel like this sometimes, don’t throw your established identity out the window so fast. Instead, consider ways you can revamp or shake up your current brand.
Maybe change your website’s home page. Another idea? Add an extra color to your branding materials.
Or perhaps you can change the way you present yourself in your social media graphics. Look online for inspiration and you’ll be surprised how much you can find.
A simple change like this can breathe new life into your company without having to perform a complete rebrand process.
Rebranding a Company: Closing Thoughts
Congrats! Now you know how to tell when it’s time for rebranding a company. Next, it’s time to examine your unique situation and decide if that’s the path you want to take.
If so, look for ideas. You can find inspiration all around you. Then create a rebranding plan, outlining your exact steps.
And last but not least, execute it. Soon you’ll be on your way to a completely new brand.