How to Know When It's Time for A Rebrand
Five Signs It’s Time For Your Business to Undergo a Rebrand
Rebranding your business is no easy task. It takes time, resources, and a lot of hard work. However, research has shown that it sometimes’s a necessary part of business in order to continue and grow.
The process of going through a rebrand isn’t an easy task, and it shouldn’t be taken lightly. It’ll be crucial for key points of your team to be involved and share their input, and it will be a complex process. That’s why you shouldn’t take on a rebrand unless i’s necessary -- so how would you know if it’s time for a rebrand? Here are five signs it may be time.
1. You’ve Changed Your Services or Products
A huge sign that it’s time for a rebrand is when you’ve gone through some internal changes. This can be a total shift in your offerings or branching out from something you’ve previously done. A rebrand can help market this transition and show that you’re offering new or better services.
It’s important to consider a rebrand at this time because the way your company is perceived by your customers should align with what you’re offering and how you operate.
A prime example of this is from Dunkin, previously known as Dunkin Donuts. The rebrand was caused by growing popularity in Dunkin’s coffee drinks and the expansion of their menu items. This allowed them to widen their audience and let them know their ability to offer more than just donuts and position themselves as a full-service breakfast stop.
2. You’re Not Attracting the Right Market
Do you consistently attract the wrong client? Maybe they’re looking for something cheaper than you’re offering or are not understanding the value that you’re offering. Your branding might be the cause. We mean it when we say that branding is crucial and can really say a lot about your business, who you are, and who you serve.
If you’re looking to serve a client at a different price point, it might be worth it to take a step back and consider how your brand is perceived by others.
3. The Logo Doesn’t Inspire or Excite You Anymore
It’s a telltale sign- maybe at one point you were really excited to hand out your business card, share leave-behinds, and more, but if you cringe when someone asks for a business card or you feel like you have to provide some sort of explanation about your logo, it’s time.
Your logo is the core of your business and it’s important that you feel excited, inspired, and proud of it. It should represent the work you do and you should be just as passionate about it as you are your business itself.
4. You’re Trying to Connect with a New Audience
With an ever growing market of available buyers in each new generation, it makes sense to foster brand loyalty among new customer segments with a rebrand. Staying on track of demographic shifts is an important metric to be aware of, and can help you sustain relevancy with your customers.
While you shouldn’t chase a whole new brand or demographic every time there’s a shift in trends, it’s important to keep yourself aware of changing tides and how you can play into them. This can include a brand refresh, or a full on rebrand of your business, depending on the needs of the new demographic.
One example of this is the rollerskating industry. The summer of 2020 showed a huge increase in popularity for the roller skating industry among young adults. Before then, most skate brands were targeted towards children, but this shift in popularity opened up a whole new audience that businesses could sell to. That means a lot of businesses went through rebrands to be able to better appeal to this new audience.
5. You Don’t Stand Out From the Competiton
While there are best practices for every industry, there’s a trap that many fall into where they look too much like their competition, and customers can’t differentiate between the two. It’s important for you to stand out both in what you do and how you present yourself to your customers.
When you think about it, you should know what makes you better than your competitors, and that should somehow be reflected in your logo and branding. Maybe it’s part of your slogan or included in your iconography -- either way, your brand should show off your competitive advantage in itself.
While a rebrand shouldn’t be taken lightly, it should be considered as you continue in business. Maybe add it to your EOY review or new year planning to check in on your brand and see how it’s working for your business. That way, you can have regular check ins scheduled to be prepared.
Interested in a Rebrand for Your Business?
We can help! At efelle, we’ve helped with everything from logo evolution to total rebrands. We’re happy to help businesses find their true selves and love helping them market their exciting new beautiful brand. Fill out the form below and let’s get chatting about how your business can grow.