How to Know it's Time for a Rebrand
Most business owners put a lot of energy behind developing a logo when they first launch their brand. But how do you know when it’s time to RE-brand and freshen things up? In this blog post, we’re giving you seven situations to watch for, so you will know when it’s time for a rebrand.
Wait, WHAAAAT?? I can’t keep the same logo until the end of time?? Well, the short answer is NO. But not every rebrand has to involve a complete overhaul. If you’ve been a successful company for more than a decade, a rebrand might be as simple as adjusting your color palette and fonts to slightly modernize a brand that’s otherwise working well for you. In other cases, it might be time to throw the old brand out, and start from scratch.
We’ve come up with 7 reasons you should start considering a rebrand:
#1 – You look like everyone else in your industry.
If your logo is still maroon and navy blue and looks just like all your competitors that started in the 1990s when you did, it’s definitely time to rebrand. Or if everyone else has updated and you haven’t, it’s time.
#2 – You’re targeting a new audience.
If your ideal customer demographics have shifted, you may need to tweak your branding to reflect that. Younger consumers typically respond better to brighter, more modern color palettes while 55+ age groups respond better to the more traditional greens and blues.
#3 – You’ve broadened your scope.
Maybe when you first launched, your business offered A and B products. But now you’re offering C, D, and E too and you need to update your brand to reflect that growth and expanded scope of products. Or maybe you moved to a new location with a great naming opportunity – a real estate firm might want to identify with a better location in their metro area, or a retail store might want to identify with a particular niche market in their neighborhood.
#4 – You look outdated.
If you can’t tell whether your logo is outdated or not, ask some of your employees, your key customers, and your friends. When the question is posed correctly, “Does our logo look outdated to you?” most people will give you a pretty straight forward answer. If you ask, “What do you think of our logo?” they may not be as up front because they will worry about hurting your feelings.
#5 – Your brand no longer reflects your values.
As you grow and better define what you specialize in, it may be important to evaluate whether your brand still adequately reflects your values. For example, If you want to be known as trustworthy and patient with the elderly, having a simplistic grunge logo will likely not communicate that well to potential customers.
#6 – You’ve gotten some bad press.
If your brand has suffered from negative headlines – say an employee committed fraud and was arrested, or maybe you’ve had a few fights in your bar and now people aren’t coming anymore – it might be time to rebrand and adjust your strategy.
#7 – You’ve bought a competitor or been acquired by another company.
Obviously, when two businesses come under one roof, a rebrand can be a good idea so that neither group of employees or customers feels like they lost out. Two good things coming together.
There are definitely pros and cons to rebranding, and regardless of how you go about it, it’s an investment that can be fairly expensive, so you want to take your time and do it right. And of course, we’re here to help when you need it. Be sure to check out the podcast episode on rebranding to get even more ideas and examples of rebranding here.