Many people say they want to ‘rebrand.’ And by rebrand, most of the time they mean they want a ‘new look’ (logos, colors, fonts, etc.) for their brand. However, rebranding is not just about changing our brand’s appearance. It is the exciting process of knowing and rediscovering our brand. So, what does it mean to rebrand exactly? This usually occurs when you decide to take a new direction for your brand.
In any business, there are times when a rebranding is necessary in order to stay relevant and keep up with the times. But when is the right time to do a rebrand? The answer to that question is not always a simple one.
Here are a few questions to ask yourself.
- Has your company undergone major changes, such as a merger or acquisition?
- Is your current branding no longer relevant to your target audience?
- Are you looking to expand your business into new markets?
- Does your brand identity no longer feel relevant or accurate?
- Has your company’s competitive landscape changed?
- Do you feel like your competitors have updated their brands and are now outshining you?
- Are you seeing the level of success you want?
If you answered yes to any of the above questions, then it may be time to consider rebranding.
While sometimes it may feel obvious when you need to rebrand, other times it may not. Here are 5 key indicators to consider before taking the plunge:
Your brand limits you
Your brand started out with a specific service and now you are expanding your services. It now limits you in terms of the customers you can attract and the products or services you can offer. You also feel like your brand name and identity is now limiting you in reaching more clients. It is important to understand your brand and what it represents in order to make the most of it. Your brand should be an extension of your company culture and values. It should be something that you are proud of and that sets you apart from your competitors. If your brand is not clearly defined, it will be difficult to create a strong and recognizable identity. Take the time to define your brand and what it stands for.
Your brand has evolved
Your brand is always growing and with it comes along a bigger vision. You now want to scale up and take your brand to a higher level to attract more of the caliber of clients you want to work with. If you find that the majority of inquiries you receive are not matching to your ideal type of audience, then that is a key indicator that something within your branding strategy is off.
Your brand feels outdated
Brands may have a long shelf life but they don’t last forever. The world is constantly shifting and your brand needs to learn to adapt to the change in cultural norms and preferences in order to stay relevant in your industry. Take a look at your competitors and see what they’re doing. Are they using modern fonts and colors? Are their websites and social media accounts up-to-date? If so, it may be time for you to do the same. Your logo from 10 years ago may still look cool and beautiful to you but may no longer be trendy or relevant for your audience now. A brand refresh also doesn’t have to be a complete overhaul. Sometimes, simply updating your logo or adding some new colors can make a world of difference. If you’re not sure where to start, consider hiring a professional branding agency to help you.
Your brand does not stand out
There is too much competition in your market and you all look the same. You want your brand to be more unique, different, and authentic. So what can you do to make yourself stand out as the go-to coach or service provider in your industry?
Your brand has become confusing
Confused customers don’t buy. If your audience is getting confused with your messages and your brand positioning keeps on changing, you’ve lost them. It’s time to recheck your brand’s core so it will clearly reflect a clear message and identity to your audience.
Keep in mind that rebranding is a major undertaking and should not be taken lightly. Before you proceed with any changes, be sure to do your research and consult with experts to ensure a successful transition. Now, that you’ve decided that rebranding is what’s needed to grow your business, how do you begin?
Self-awareness is the first step to rebranding
The first thing you’d want to do is to step back and assess.
Ask yourself these questions:
Who are you?
Just like when we are getting to know a new person, we want to know their name, age, hobbies, hometown, etc. Rebranding will also feel the same, you are getting to know your brand all over again. Therefore, establishing your core identity will be something you’d need to dive into and explore more in-depth. Answering the foundational questions around why your brand exists, what personality you have as a brand, what your values are and what makes you special is something you need to take time to figure out as the most essential step before anything else.
What is the purpose of your brand?
Define the reason why your brand exists. Restate the problems you want to solve and ways you want to help your ideal clients especially if you have narrowed down your services or serve a specific niche as the reason for your rebrand. In our case, at one point we were trying to cater to anyone and everyone which clearly wasn’t working in our favor and prevented us from growing at the pace we wanted to. As soon as we niched down and realized who we wanted to serve—high-level female coaches and speakers who impact other women—that’s when we started to project all of our messaging and branding visuals to speak directly to them.
When you try to cater to anyone and everyone, you’re speaking to no one.
What do you want to achieve in your rebrand?
Let’s think of the end result of your rebrand. Why do you want to rebrand? What change do you expect to happen with this process? What outcomes are you looking for after you rebrand? Have a clear roadmap in place with specific objectives and a detailed strategy to maintain your brand image and consistency moving forward.
Rebranding is a time-consuming process so don’t rush yourself into it. Rebranding is a great chance for us to stop and…
- Rethink our brand mission and vision
- Re-establish our brand goals
- Reignite our brand purpose
- Redefine our brand position and story
As business owners, we tend to always move forward but we also need to stop once in a while and check if our brand efforts are still aligned with our brand goals. It can be risky to invest in rebranding, but businesses that don’t invest may risk losing their audience.
Being true to your brand means being true to your company. Companies that refuse to change their brands often fail. Customers often respond to brands that are changing. Stop and take the time to revisit your brand and start reassessing it from the inside out. By doing a proper rebrand, you’ll be able to have a clearer direction of where you’re headed and clarify who you want to serve and why you want to serve them. Consider the goals you want to achieve for your brand in the long run. These internal assessments may take a lot of time but they’ll allow your business to last for years to come.
As a business owner, are there any aspects of your brand that you want to revisit?
If you’re ready to take your brand to the next level and learn about what makes a strong brand, you may want to check out this post. Or, if you would prefer to have a 2nd pair of eyes and need an outside perspective on what’s going on in your business but don’t know where to begin, we invite you to book a free consultation with us here.