If your brand is outdated, it will limit your business’ opportunities in the market you are in as well as the rate in which your business can grow. Is your business’ brand feeling a little old and tired? It might be time to start thinking about rebranding.
So what is rebranding? Simply put, it’s actions that redefine how your business is presented to your audience, who also happen to be your potential clients. This could go as far as changing the name of your business, or it could be relatively simpler, like creating a new logo or making changes to your current logo. Here are a few reasons why you might need to carry out this exercise.
You want to target a new market
Rebranding can be an invaluable exercise if you want to reach out to a new market. Revamping your brand gives you the flexibility to change some of your products and services with ease, to suit your new market. Overall your new brand can infuse your marketing efforts with relevance and vigor, enabling you to attract new audiences.
Your brand no longer reflects your vision
When Steve Jobs returned to Apple in 1997, he changed Apple’s rainbow logo to a sleek metallic one. This was done to help Apple keep up with trends, changing times and Job’s vision for Apple’s future. This worked out and made sure Apple’s brand aligned with the company’s vision of offering minimalistic, contemporary products. So it’s always a good exercise to reevaluate your brand once in a while to check if it still represents what you are offering your clients.
You are embarrassed to hand out your business card or direct people to your website
A strong brand is expressive, open, and communicative. They have a mission, and they want the world to know about it. If you find yourself feeling embarrassed about your marketing material, then “expressive, open and communicative” are no longer in effect. It’s definitely time to start thinking about rebranding.
You need to dissociate from a negative image
Another instance when you might need to rebrand is when you need to shift the consumers’ perception of your brand that might have some negative image attached to it or to show your company’s progression in an evolving market.
Taking into account the reasons above, is it time for your company to consider a rebrand?