Your branding is the face of your company; therefore, arguably, it is one of the most important aspects of your business.
If you believe you’ve reached a stagnant point as a company, or are simply seeking a refresh, then rebranding may be the key to unlocking new potential for your company,
While the concept may be daunting, it could be worth considering if you’re struggling to align with your customers’ demands and expectations.
In the past, brands have faced backlash from consumers due to rebranding, as they haven’t done their research or thought about their audience, leading to confusion and frustration.
So, how exactly do you know if it’s the right time for a brand refresh?
Your brand image no longer aligns with your vision
It’s evident that as time goes on, brand names can become outdated due to a flurry of different reasons – from the cultural context changing, to the fact that it may not represent what your brand stands for anymore.
A strong brand name is your main touchpoint with consumers.
While helping to differentiate yourself from competitors, a good brand name ensures your company is memorable.
Remember, if you’re wanting to rename, research is vital as businesses may already occupy the name, alongside trademark vetting and URL research.
You’re failing to differentiate from competitors
A key indicator it’s time to rebrand is when you’re failing to stand out against the crowd.
Branding is all about competitive differentiation, and being able to communicate what sets you apart from the rest ensures you can remain at the forefront of consumers’ minds.
By focusing on your competitive advantage, you can define your brand
If you’re wanting to tap into a new target market, it could be time to consider rebranding, in order to align with a specific audience.
Fostering brand loyalty among new segments starts with ensuring your brand is relevant to their needs, so be sure to conduct your research into the behaviours, attitudes and demands of that demographic.
Essentially, a rebrand enables you to redefine yourself with the goal of reaching untapped audiences.