When is the right time to rebrand?

We all know the saying if it ain’t broke don’t fix it. Building a solid, memorable identity requires money, time, and energy, so embarking on a rebrand is a big decision.

Why then do even the very biggest businesses take flight and go for it? Because, sometimes, the moment has come to accept that customers are not engaged with key aspects of your business personality. Sometimes, you have to acknowledge that your brand power is failing and act on it.

We’ve helped many businesses successfully reboot their brands. In this piece, we’ll walk you through some common reasons to consider a rebranding.

Reasons to consider a rebrand

We’ve talked about Gap’s logo redesign disaster before. Tropicana lost 20% of its revenue in just one month after a poorly conceived identity shift.

Done right, a timely rebrand can be hugely beneficial to your business, upping your brand recognition, winning customers, and boosting revenue.

So here are 6 compelling reasons to commit to a rebrand…

1. Do I have a brand?

It’s possible that you have not really considered ‘brand’. You may never have been through a ‘branding process’. What you do have is a brand that, like all brands, is defined by the many and various ways you interact with your customers.

If you have not yet looked to clearly define your brand, or to clearly communicate what you are all about, you’re missing out a big marketing opportunity.

2. Your brand is dated

Yes, some traditional brands have used the same logo for hundreds of years to excellent effect. But, for most businesses, staying relevant over time requires brand change.

If you look at your logo, your marketing materials, and other important customer touchpoints, and you feel your business looks dated, it’s a glaring sign.

Perhaps your current brand identity was shaped when you were starting out on a shoestring budget. Perhaps it was created many years ago and no longer reflects the business as it stands today. Perhaps it isn’t applying well in today’s digital-first world.

3. Your strategy has shifted

You’ve seen an opportunity to focus on a new audience… and realised they’re unlikely to connect with who you are now. You want to win over new customers without alienating your existing client base, so are looking to strengthen your look and shift your market positioning without sacrificing your original appeal.

Alternatively, you may be thinking about changing the service or product range you offer, and feel your brand needs a revamp to reflect this.

4. You’re failing to stand out

When the market you’re competing in gets crowded, you’re less likely to stand out – especially when brands that look and sound similar to you start cropping up. To counter this, you need to effectively communicate that your offering is unique; in this instance, rebranding in some form is necessary to bring your point of difference into focus.

5. Your values aren’t translating

The modern customer is increasingly drawn to purpose-led brands with a tangible mission… but the core values driving your business aren’t being articulated via your brand identity. If so, it may be time to reevaluate everything – your mission, your look, your tone of voice, your strategy – to more powerfully convey your reason for being.

6. Your business has grown

If your business has undergone a merger, takeover or moved into new markets, a rebrand may be in order. Your identity may longer fit with your expanded offering and audience, or, in the case of a merger, you may need to thoughtfully combine your existing identities into a unified whole.

How to rebrand

Ok, so you’ve decided rebranding is the way forward. What next?

An airtight rebrand requires strategic consideration, sensitivity, creative flair, and, above all else, a genuine understanding of your business, your customers, and your aims. Get these right, and the finished product will be a brand with lasting impact and a loyal, growing audience.

Look out for part 2 of our insights on rebranding… Next, we discuss our in-house process and the consistent, impactful application of your brand.