5 Indicators that it’s time to re-brand
Rebranding your business is a natural part of the life cycle of any company, as it grows and evolves. Even the most successful businesses will have to rebrand at some point, but it's not an easy choice to make. A rebrand can be subtle to grow with the current audience, or take the business in a completely different direction to attract a new audience. You need to know when the time is right, and many business owners miss the warning signs until it's too late.
Here are 5 main indicators that it’s time to rebrand:
Your business model, core offerings, overall strategy or core audience has changed; or is rapidly changing. Therefore, you’re concerned that the current brand isn’t positioned to resonate with your target audience.
Your target audience doesn't recognise your value proposition, which is the promise you make to your target audience to deliver quality products and services. If your customers don't know what value you bring to the table, then something isn't aligning between your brand and your business. Rebranding your business can help you realign.
The industry you are in is rapidly evolving and you’re concerned that the current brand is headed toward being considered dull, uninspiring and outdated. "Outdated" in this sense can mean two things: You visually need a refresh to stay on trend, or you're not staying up to date with customer preferences.
You’ve outgrown your own brand. What you are today and what you aspire to be tomorrow is different from what your brand once was. Aligning with your own brand is vital for selling the products or services you offer. If you don’t believe or resonate with your own brand, then how can anyone else?
Your target audience isn't specific enough. If your target audience doesn't know why they need your brand or what you offer, or if you've cast your demographic net too wide, you need to consider rebranding your business. Being too inclusive sets you up to fail. Niche down and market toward a clearly defined audience.
Does your business show any signs of needing a rebrand? Contact us to discuss your exciting rebrand!
