How To Know When To Rebrand
One of the most common questions people ask me is, “How do I know when I should rebrand?”
What is rebranding?
Rebranding is more than just coming up with a new logo or redesigning a website.
This is one of my favorite explanations on what rebranding is: “Rebranding activities must have the purpose of changing the emotional and mental associations consumers have with a company over hundreds of thousands of individual experiences.”
Rebranding is powerful process of transformation that helps you (and your company) get to a place where you’re accurately communicating who you are to your customers. This process can be especially catalytic if you’re dealing with growing pains or major changes in your business.
Here are my top five recommendations on when you should rebrand:
1. Your business has hit a ceiling
Are you ready to see more growth in your business but feel like you’ve plateaued instead? If so, it may be time to rebrand. Building a brand that is compelling to the customer base you want to engage is essential to growing your company.
2. You’re ready to raise your prices
Similarly, rebranding is beneficial when you’re going to raise your prices. Refining your brand helps to better show your unique value to your customers, which makes it more doable to charge the rates that work best for your business model. If your current customer base is not the ideal clientele for your new rates, rebranding allows you to focus on appealing to new customers who can work with your updated pricing.
3. You’re making a major change in your business or offering new services
Are you planning on discontinuing a certain product or adding in a new service? Your brand is all about communicating to your customers what they can expect from you and your business. Rebranding is perfect for these transitional situations, because it helps you update your customers about what they can expect from you going forward.
Related: Brand Strategy: What Is It?
4. You’re going to change the name of your business
Any time you change the name of your business is a natural time to rebrand. A name change incorporated into a rebrand gives you the unique opportunity to create new mental associations with your business. For example, changing your business name from “Modern Times Interior Designers” to “Hannah Jo Design Co.” gives your business a much more personalized feel than the previous name implied.
5. If you’re struggling with overall brand cohesion and messaging, it’s time to rebrand
If you feel like your current brand doesn’t fully convey who you are and/or your vision for your business, it is worth looking into rebranding. You may notice that the keywords, voice, mission statement, and design aspects of your brand don’t match what you truly offer or the direction your business is heading. Again, creating accurate expectations with your client base is key to the success of your company. If you feel like your current brand isn’t helping you communicate the core of your business well, it’s time to make some changes.
Everyone will need to rebrand at some point
Building your brand is a process. It can’t be perfected overnight. This is why I recommend that, if you’re just starting out, you probably don’t need a full branding package. You don’t fully know who you are yet and paying for a huge branding package can be a waste of money. You can always go through a rebrand later on. In fact, rebranding is necessary for all businesses as they grow and change; it’s just a part of life!
Free tool to check whether you should rebrand
If you’re considering rebranding, check out my free “Is It Time to Rebrand? - Check My Symptoms” tool to see if your brand needs an update.
Do any of these scenarios match where you’re at? Did the symptom checker tell you it’s time to rebrand?
Hit the button below contact me about helping you with your branding needs.