The brand of a company should be fluid and resonate perfectly with your business voice and vision. However, what starts out as a great idea sometimes crashes and burns. When this happens, it’s time for rebranding. There are a variety of other instances where rebranding is imminent as well. Times change, and so do the needs of a business and its customers, so it makes sense for brands to change stances every now and then.
Sometimes, it’s enough to just modernize your current brand, but then there are other times when you’ll have to do a complete overhaul. Either way, it’s important to know when it’s time to rebrand and when it isn’t, so you don’t end up making a mistake that could jeopardize your image.
Avoid Rebranding On Impulse
Sales go down and user engagement diminishes – it happens to even the best of us. This doesn’t mean you have to do something as drastic as rebranding your entire company. Just because it seems like a good idea at the time doesn’t mean it really is.
The brand you create is the foundation of all your marketing efforts, so it’s imperative to treat it with care. Uprooting it on the whim could be devastating to your business. So before you go forth with rebranding, consider the following.
Is Your Old Image No Longer Accurate?
It’s not uncommon for brand images to become obsolete over time. Companies like McDonald’s that have been around for decades eventually have to switch things up a bit. Some decide to create new logos and colors and change their messaging.
— HUGH BENJAMIN (@hughbenjamin) October 28, 2016
Has Your Target Audience Changed?
Going after a specific demographic is important for sales, but sometimes you learn that there’s a different audience that you can cater to even better. Maybe the younger generation is a better market than the older, or the blue collar market would convert better than the white collar sector. Whatever your reasons for the switch, rebranding will be required.
There’s a New Kid On the Block
A little competition is always expected, but there are some new competitors that can squash your business, especially if it’s very similar to yours. In this case, you will need to rebrand your company, so that it continues to stand out. Try to keep whatever qualities that makes it successful and renovate the rest.
Hugh Benjamin is an internet marketing expert who offers business development services to small business owners. His services include online reputation management, web design, content marketing, SEO, social media marketing and PPC management.