Do you ever feel as if your brand isn’t doing as well as it should? If you take a look at some of the most longstanding and resilient businesses, you’ll notice that rebranding is part of the natural business cycle. But how do you know when it’s time to rebrand your business?
For many organizations, red flags can get buried in the hustle and bustle of daily operations. And deciding to make a major change is never easy or straightforward. Here is what you need to know about rebranding and some major signs that your small business might need to take this vital step.
What is a Rebrand?
Rebranding this process of reshaping how your company is viewed. This might involve anything from changing your name, logo, tagline, website, and accompanying marketing material. Rebrands require research and a deliberate approach, so they are successful. Provided they are done right, rebranding your small business can help attract new clients, retain existing ones, and even improve employee satisfaction.
7 Signs Your Small Business Needs to Rebrand
Some businesses reach a point where rebranding is a necessity. Others see it more as a strategic move. Here are seven signs your small business should consider rebranding.
1. Your Offering Has Changed
Let’s assume you started your company as a roofing installer in City A. After a few years, you not only expanded to several other cities but also began installing insulation and gutters, and providing repair and maintenance services. Your business is much different today than it was when you first branded it, so it’s probably time to rebrand to provide clarity.
2. Your Audience Has Shifted
If you haven’t taken the time to study and consider your target audience’s expectations, you may not be hitting the mark. In fact, you might be attracting the wrong audience entirely. Use credible data to find out what your ideal customers want and need before charting your new brand’s direction.
3. You Are the Same as the Competition
If your brand isn’t unique, then it probably isn’t memorable. Ideally, you want to send the message that you are the best choice to solve a customer’s problem. If you look exactly like the competition, it’s probably time to make some changes.
4. You Want to Rehabilitate Your Image
Some brands go through a few stumbling blocks with their reputations. Maybe you’ve delivered an inconsistent customer experience in the past. Rebranding can be an excellent opportunity to get a fresh start and emphasize what’s important to your business.
5. You’ve Undergone a Merger or Acquisition
While there are generally financial reasons for mergers and acquisitions, they can be confusing for customers. If you’ve purchased or merged with another small business, it’s probably a good idea to rebrand so you can clarify your mission and offerings.
6. Your Brand is Outdated
Maybe your brand has been relying on outdated trends and is no longer resonating with customers. Focusing on things that customers will always find value in is a much better and timeless strategy for most brands. These include excellent service and reasonable prices.
7. Your Vision Has Changed
If your business’s vision has changed over the years, it’s a good idea to rebrand. Let’s say you originally envisioned your business delivering a single product or service, but now you have expanded those offerings. Or maybe you are focusing on sustainability and environmentally-friendly products. You can incorporate these items into your rebranding as well.
So… Think You Need to Rebrand?
These are helpful indications that your business might want to consider rebranding. But a checklist doesn’t tell the whole story. It’s important that every business have a clearly defined branding strategy that helps set it apart from the competition and make meaningful connections with customers.
If you’re seeing any of the above signs, or you would like assistance defining and executing your existing branding strategy, we’d love to help. VisionPATH Marketing helps clients create and promote compelling brands. We coordinate the branding process so you achieve the best possible results from your digital marketing efforts. Contact us today to schedule a free initial consultation.