After your review of past year’s performance, Ask yourself a few questions to see if the time for rebranding is upon you yet!
How did the things go? Were you able to achieve your targets? Are you attracting the type of business you want? Are you charging what you wish to charge? Do your competitors take you seriously? Would you consider your business successful? Are you growing?
If the answer to any of the above question was a “no”, then there are definitely problems around how people perceive your business and if that’s true then it’s definitely a time for a rebrand. This blog discusses if it’s time for you to rebrand yet and what things to keep in mind before you embark on your rebranding journey.
YOU ARE NOT ATTRACTING THE TYPE OF BUSINESS YOU WANT:
This is a dead giveaway. If the people are always lowballing you and challenging you on your prices then rebranding should be in the works. You might also see people doubting your credibility and capabilities. A revitalized brand can remedy this situation. It can reposition your business, the services you offer and presenting the right image and attracting the consumers you want.
YOUR CURRENT BRAND LOOKS UNPROFESSIONAL AND DATED:
Needless to say that an unprofessional or DIY brand identity will go against you. Your product may be amazing but if your brand identity doesn’t reflect the same, it’ll fail to reach the next level.
An outdated brand will make your consumers think that you cannot keep up with times and it can even demoralize your team discouraging a culture of innovation. Rejuvenating your brand will show your customers, competitors, industry and team that you are moving with time and you are on top of your craft.
YOUR BRAND IS FORGETTABLE AND COMPLICATED:
If people have trouble understanding what is it that your business does or if they mistake you for someone else, all your marketing efforts will be a waste of your effort and money. Adjust your brand accordingly, identify your unique quality and capitalize on that so that you don’t get lost in the midst of all the other brands.
THE MANAGEMENT OR COMPANY’S PHILOSOPHY HAS CHANGED:
Change in a company’s ownership may also result in change of company’s core values, their culture, work ethic and philosophy and since all these things are brand drivers; you’ll require rebranding so that your new brands reflect your values accordingly.
FOLLOWING ARE THE THINGS TO CONSIDER WHEN GOING FOR A REBRAND:
A REBRAND IS NOT A QUICK FIX:
A rebrand won’t make all your problems go away. It is not an instant solution and don’t treat it as such. If your business has acquired a bad name, rebranding it won’t make it go away. Fix that problem before you go for rebranding.
“Great brands are not created overnight. They grow and mature with time like wine”.
UNDERSTAND WHAT YOU ARE SIGNING UP FOR:
Rebranding would need investment both financially and time wise. Everything has to be changed and revamped from your website to advertisements, press releases, stationery, social media, emails, uniforms etc. which will take time, effort and money. In short, do your math and if you think you can’t afford it, it’s probably in your best interest to hold off on it.