As the times change and the world evolves, industries change too. And because of this change it’s sometimes necessary to give your brand a revamp. But how do you know when it’s time to freshen things up a bit? You’ll know that it’s time to rebrand if you feel that your brand has become stale. Other common reasons that companies typically rebrand are when there’s been an acquisition, new products are introduced, there has been re-organization, a spin-off, deregulation, or a merger.
Here are 8 signs that it’s time for your company to rebrand:
- Outdated Logo: If your logo is outdated, you might want to consider rejuvenating the basic elements of your logo such as the colors, logo treatment and/or typeface. And remember that rebranding is more than just the logo. Rebranding is also telling a story about your brand – your brands story.
- Generational Operation Changes: When a company goes through a generational shift where there is a transition in power with a change of hands in operations, then a rebrand is a good idea for a fresh start. Brands typically represent their founders, so you’ll want to keep things updated and relevant to the times.
- Negative Associations and Discrepancies: If your brand has any negative associations or if there are any discrepancies between how your brand is perceived and what your brand offers, you might want to consider a rebrand. For example, if the name of your brand is translated into something awful in another language, this is a negative association. Discrepancies in perception could be a brand name that limits what your brand actually offers. If the brands name is centered on one product when in fact the brand offers many more products than just the one product, this can become limiting and leave a brand stale.
- Consumer Evolvement: As your consumers evolve, so should your brand in order to ensure that your brand stays relevant and fresh in your industry. As time moves on, your target audiences needs will change, so it’s important to stay on top of that change when considering a rebrand.
- Company Growth and Merging: If there has been a new acquisition or professional services have merged, you’ll want to consider a rebrand. You’ll want to include this new merger or acquisition into your brands new story and appearance. And as your company grows, things change. Maybe you’re ready to reach different audiences or maybe your company has just changed and you’d like to convey that change by rebranding.
- Brand Differentiation: If your brand has a similar association to a generic brand, you want to ensure that your brand significantly stands out from the crowd by rebranding and making much-needed changes.
- Brand Appeal: Does your brand still appeal to your target audience and market? If not, then it’s definitely time for a rebrand because that means your brand has become stale. When considering brand appeal for your target audience, you’ll want to take into consideration genders, ages, and demographics, etc.
- Sub-brands: Sub-brands tie into company growth. If your company has grown significantly, you might want to consider a sub-brand approach.
When making the decision to rebrand, don’t choose to rebrand simply out of boredom. Avoid unnecessary rebranding at all costs. However, if you’re truly ready to rebrand, then choose to do so for a logical and strategic reason.