Is It Time for a Rebrand?

There is one pressing question on the lips of most growing businesses these days: To rebrand, or not to rebrand?

Rebranding is an exciting process that can open many new doors and help a business evolve. That being said, it isn’t something to be embarked upon lightly or without consideration. For starters, the timing and reasons for doing it need to be right and all the costs need to be evaluated – we don’t just mean the monetary kind either. So take a moment to make sure a rebrand really is the right move for your business by measuring your circumstances against the below scenarios.

Let’s start with the good stuff: Here’s how you’ll know if it really is time for a rebrand:

You’re no longer relevant or competitive

Things change; it’s a fact of life. And sometimes these changes – advances in technology, evolving trends and changing attitudes, for example – can leave your once perfectly relevant business somewhat stuck in the past, along with your image, messaging and competitive edge. If your brand is missing the mark then your customers are simply going to flock to your newer, more relevant competitors, leaving your business with a depleted revenue stream and an unfavourable reputation.

But businesses can always be updated and perceptions can always be changed, and a rebranding could be just the way to do this. Besides, it also gives you the perfect opportunity to develop a more future-proof brand image this time around; one which doesn’t rely too heavily on current ‘trends’ that have a habit of disappearing almost as quickly as they arrive.

You’re losing sales and customers

Have you noticed a dip in sales and revenue over the last few months and years? If after running some diagnostics you find that everything else seems to be in order, then it could be your branding that is doing the damage.

Start by evaluating your brand messaging and semantics – are they saying the right things? Your branding could be inadvertently sending the wrong messages or talking to the wrong audience, which will cause your sales to take a hit. Try running a survey of your current customer base and ask them how they perceive your brand. Any feedback you get from this can help you reposition your branding and stem and reverse your dwindling sales figures.

Your branding has become inconsistent or lost

We as business owners are being spoiled by the current digital climate. The number of social media platforms and online marketplaces that we can now harness to promote our products and expand our reach is incredible, but it comes with an element of danger. Having so many different platforms to operate from means our branding can become diluted, inconsistent or even lost completely, especially if we begin using platforms that aren’t necessarily suited to our business purposes and brand image.

Run an evaluation of all your business platforms, including your website, all social media profiles and marketplace profiles (Amazon, eBay etc.). Is your visual branding, copy tone of voice and messaging absolutely consistent across all customer touchpoints? If not, you could be unwittingly confusing your customers and losing sales as a result.

In cases where inconsistent branding has been applied for extended periods of time, a complete rebrand is usually needed to realign all points of communication and regain customer trust and recognition.

Your business is changing name or focus

If you’re taking your business in a new direction and/or changing its name, changing your core products and services or all of the above, then a rebrand is most definitely needed. A rebrand will help align your imagery and messaging with the new direction, plus it will help draw attention to the positive changes occurring within your business – becoming environmentally friendly or expanding into new countries, for example.

If these points are ringing true then it’s looking like good news for your rebranding ambitions. If not, keep reading.

Here are some very good reasons NOT to rebrand:

Nothing has changed

As the saying goes: If it ain’t broke, don’t try to fix it. If your company is looking healthy, continuing to grow and getting great customer feedback, then all you need to give yourselves is a pat on the back. Rebranding now is pointless, and you’d only be wasting time and energy that could be put into growing your business in other areas.

You’re doing it just for the sake of it

Sure, change is nice and we all fancy it now and again, but a full business rebrand is not something you should do just for the sake of a change. All you’d be doing is confusing your already loyal and satisfied customer base and frittering away funds that could be put towards something much more worthwhile, like market research or product development.

Now you’re clear on whether you should rebrand or not, you can make an informed decision on your next steps. If you are definitely in need or a rebrand, here are some important points to consider before going ahead:

Do your research – The only thing more costly to your business than not rebranding is rebranding badly. (Remember what happened to GAP?). Make sure you have thoroughly researched your audience and market – especially if you’re venturing into a new one – and do a full audit of your business to identify the weaknesses that need to be addressed as part of your rebranding.

Keep your customers informed – Don’t blindside your customers with an overnight rebrand; they won’t appreciate it. Keep them informed with e-shots, newsletters, flyers and posters to make sure they know what’s changing, why it’s changing and when. This is a great way to drum up excitement and awareness too.

Agree on a budget: Rebranding involves more than just a change of logo and messaging. You will need to consider the costs of this alongside other essential elements such as a new website build, stationery, signage, marketing materials, uniforms and vehicle decals as applicable. Make sure you research and plan out everything you will need to complete your rebrand properly so you can allocate a sufficient budget for the project.

Get professional help: If the above seems a little overwhelming – and we would sympathise if it does – then don’t worry, help is always available. Attempting a DIY rebrand is rather ill-advised anyway, as it can often lead to a less-than-professional brand appearance that your customers will pick up on immediately. A professional design team will be able to help you with every stage of the rebranding process from initial research right through to relaunch, meaning you’ll be left with a shiny new brand that really hits the spot.

If you’re in need of a rebrand and you’re not sure where to start, just give drop me a line.