There are clear times to rebrand and also times when it doesn’t quite make sense, have you hit a business milestone, a landmark birthday, outgrown your premises? Have you launched a new product or are you trying to get into a new market? These are often good reasons why you should think about rebranding.
Here are 7 reasons the time to rebrand might be right…
1. You look like everybody else in your industry
You need to be careful when you’re in a certain industry that you don’t look the same as everybody else, but you also need to balance that with not looking too different and being out of place. Just because a competitor has a new logo doesn’t mean that you should.
2. You are targeting a new audience
If you are going after a new audience, you’ve got to make sure that the brand that you have is going to attract that audience. But don’t just change it to suit the new audience because that could alienate the one that you’ve got.
3. Your brand has grown and expanded
Your business has grown, and that success brings with it the need to change, many brands have identities that don’t reflect their current brand strategy or their offerings. You’ve got to make sure that your brand strategy moves and develops as your business grows and ensure that your brand identity represents that strategy, so you’re going to continue to grow.
4. Your brand is outdated
This is probably the number one reason why you should think about rebranding, you’ve maybe had the same logo that you had when you started your business 10-20 years ago or you’ve only just started in the last two or three years and you just used a logo that you found online to get up and running (a dozen other businesses probably use it too). But now you’re ready to build a brand.
5. It doesn’t reflect your values
It’s more important now than ever that you portray your personal and your company values in the way that you communicate your brand, this is what will build lasting relationships with your ideal customers.
6. You’ve had bad press
Think about Volkswagen, in recent years they were having lots of complaints about their vehicle emissions, so they opted for a rebrand focusing on the positives and the benefits of their electric vehicles. Rebranding and focusing on the positives rather than trying to run away from any negatives that have been associated with your brand is good move and it can completely flip the situation from negative to positive.
7. You’ve merged or been acquired
Has your company got new ownership, have formed a new partnership or has there been a change in leadership? These changes offer a very good opportunity to rebrand to show your larger offering or change in direction.
The top 5 rebrand mistakes (and how to avoid them)
Mistake 1: Rebranding just because you feel like it
There’s no expiry date on your brand, but sometimes brands feel like they need a change because: it’s been the same for too long, their competitor just rebranded, the new boss doesn’t like the logo, etc. But a rebrand is a huge project that requires serious thought before you begin.
There are some valid reasons to rebrand, those include:
- You look like everybody else in your industry.
- You’re going after a new audience.
- Your brand has expanded.
- Your brand is painfully outdated.
- Your branding doesn’t reflect your values/identity.
- You’ve dealt with bad press.
- You’ve merged or been acquired.
Mistake 2: Not knowing who you are
If you don’t know who you are or why you exist, how can you build a strong brand? How can you effectively communicate? How can you rebrand the right way? It’s practically impossible.
Before you start a rebrand, clearly identify and communicate your brand core, this includes:
- Purpose: Why do you exist?
- Vision: What future do you want to help create?
- Mission: How do you create that future?
- Values: Who are you? How do you work?
Mistake 3: Not Doing Enough Research
The more you understand where you’re currently at and where you need to be, the more successful your rebrand will be. So, before you press the ‘go’ button it’s important to know:
- How your brand is perceived both internally and externally
- How your competitors are perceived
Mistake 4: Just changing your logo
The logo is usually the most exciting part of a rebranding project, after all the logo is the most prominent visual element of your brand and it is often used as the big reveal.
But, your brand is much more than just your logo, it is all the visual and tangible elements you have and use to deliver value to your customers including: your website, social media and signage – it is also your strategy, your messaging and more.
Mistake 5: Copying trends
As with all trends, they come and go: in fashion, interior design, architecture, and brands. Don’t make the mistake of using the latest design trend just to be on-trend, as it will rapidly be out of date. Remember you are rebranding for the long term not just for today.
