Happy New Year! Once again new years resolutions and plans for the year are a hot topic of conversation. It’s a great time to reflect on ourselves and think about what we would like to do different or better in the coming year. It’s also the perfect time to reflect on your business, set goals and think about what you want to achieve in 2018. I want to encourage you to ask yourself could it be the right time for your business to rebrand?
First of all it’s important to take note rebranding doesn’t need to be a serious makeover, it’s more often about enhancing and tweaking what you’ve got. Subtle changes such as switching up your colour palette, introducing new photography styles or a slight tweak to your current logo can breath new life into your business! And then sometimes an entire transformation is needed as a marker of your company’s evolution and growth.
So when and why should you consider rebranding your business? Here are some reasons you might identify with…
1. When you have Evolved and Outgrown your Original Message
It’s common to start a business with a vision but not be 100% on all the details. These come naturally as you get up and running, find your place in the market and get to know your audience. With time your original vision might have changed slightly or grown into something bigger. Your brand should reflect this. Evaluate how your business has evolved and ask yourself does your brand reflect this? Small adjustments could make all the difference to stay connected with your brand mission.
2. When you want to Tap into a New Demographic
As your business grows the world evolves around it. It’s important to stay aware of new demographics you are attracting and to identify opportunities to attract new demographics you might not have considered when starting off. Tapping into new audiences is a great way to help your business move forward. Taking the time to do your research, finding a new market and capitalising on another demographic could be key for your company’s growth. Fit this into your updated brand mission and consider how a rebrand could coincide with this growth.
3. When the Market is Evolving Quickly
Sometimes a rebrand is necessary just to keep your company competitive in an ever-changing growing market. It’s very often the case that companies whose services may be top notch simply get left behind because their brand is not associated with the cutting edge. A rebrand can help your business stay relevant and keep with the times.
4. Shake Off an Unwanted Image
Unfortunately, it happens, brands can pick up some negative publicity that could potentially damage sales. A rebrand is the perfect way to steer your image back to positive connotations in your audience’s minds. Focus on your brand mission, identify where its message is being lost and think how it could be made clearer to your audiences in an improved rebrand. The same goes for when an unintended audience latches onto your business, identify why you are attracting a certain audience and missing the mark with your target audience. In this sort of rebrand you don’t need to scrap everything, simple adjustments to your brand have the potential to make a big difference.
5. Outdated Image
One of the most common reasons for companies to rebrand is when they are seeking a more modern image. I would advise steering away from following trends with your main brand image, particularly when it comes to your logo. If you feel the need for a rebrand because your image looks outdated, strive for your new image to achieve timelessness that will last you through the years.
Rebranding is a part of business evolution and should not be something that gets overlooked. Taking the time to occasionally reflect and question if your brand image needs a refresh or some adjustments will ensure you stay relevant and keep appealing to your audience. Rebranding is a rewarding process that will deliver significant commercial benefits.