Is it time for a rebrand? Sometimes, it can be difficult to decide. Other times, it will be glaringly obvious that your business is in serious need of a brand refresh.
How a brand is perceived affects how it performs, which in turn affects its bottom line, financial figures. Fortunately, there are perceptual, performance and financial metrics that will let you know straight up if your brand strategy efforts are working or not. However, there are instances when it will be so obvious that you don’t even need to bother with all that fancy investigation work.
Here are 5 red flags that let you know it’s time for a rebrand.
🚩 1.) You’ve gone through business changes.
One should not embark on a brand journey with the expectation that your story is set in stone. People and businesses change, grow and it is, therefore, important to adapt your presentation to the world accordingly. There are countless ways in which a business can undergo changes. If there is an acquisition or merge, that is a major change that would absolutely require a rebrand. It could also be relatively minor changes that are just enough to have you feeling as if your business has “outgrown” its current brand image. Maybe your team dynamics have shifted significantly over time. Perhaps you have honed in on a specialty service serving a very specific niche customer. If you sell products, maybe you are introducing a new line that needs to be distinguished in the marketplace. As your business model evolves, so should your brand story.
🚩 2.) You’re trying to connect with a new audience.
Would you like your business to start attracting a certain type of customer? Whether you work business-to-business (B2B) or business-to-consumer (B2C), selling products or services, either way, it’s important to have a clear understanding of your end users. This will help you adapt your messaging to effectively capture the attention of that particular type of customer. More importantly, your end users must have a clear understanding of how your special offerings will enhance their lives. If you want to win the hearts of new clientele, you need to freshen up your presentation to better speak their language. This can be achieved through a rebranding campaign.
🚩 3.) You need to separate from the competition.
Distinguishing your products and services from others alike is often harder than it seems. Industry rivals are constantly trying to one-up each other, while monitoring each others’ every move. In other words, businesses are regularly inspired by their competitors and fight to win the arena of customers they share. While it can be smart to stay keenly aware of the competition, it’s also helpful to take it with a grain of salt, meaning just because something appears to be working well doesn’t mean there isn’t a different, perhaps even better, way of doing it. If you feel like your business blends in with the sea of others, it is definitely time to hit the drawing board with a fresh rebrand.
🚩 4.) You need to overcome a bad reputation.
One of the biggest reasons to invest in rebranding is the need to overcome a negative public perception. Things may happen that can cause a crisis for your business success. Something as simple as receiving poor reviews online can tarnish your credibility and ultimately hurt your sales. Of course, creating a bad product that does not live up to its claims in advertising can be damaging passed the point of return. However, whatever you did to mess with your appeal, don’t worry, there is always a chance at a resilient comeback. You may have to abort your original mission and start completely over from scratch, but it’s nothing a little rebrand can’t help to get you a renewed shot at success.
🚩 5.) Your marketing content is bland or outdated.
Basically, if you’re not actively receiving good feedback, it’s time to rethink your A-game. Feedback can be measured as any response, reaction or conversion you get from the content you share. What was once useful and engaging can become irrelevant and stop commanding attention. To remain of interest to your customers and prospects, keep cranking out exciting, new stuff consistently, monitor results and adapt accordingly. Certain designs can become unfashionable. Websites become dated as technology advances. Imagery that once worked to provoke thought and evoke emotion expires. Stories are made to evolve from where they start, not get stuck in a circle on repeat. So, keep it interesting; no detail is irrelevant.