Your business is constantly evolving and growing and every now and then it is good to take stock of your branding too, especially when you enter key phases of your business or looking at longer term goals.
To prevent your business looking outdated and forgotten we have compiled the top 10 things that may require you to think about a rebrand for your business:
1. Long period of time since last looked at branding:
If it has been over 4-5 years since you looked at your branding then it is definitely worth giving it a review. Trends change, what was hot a few years ago may now be old and dated. Your brand now needs to work across multiple channels such as print, web, mobile etc. Your logo may have looked great on your brochure or website but is it still legible and obvious on your small social media icon for example or is it more of a blur?
2. Changes in products or services:
Over time you may find that what was your most popular product or service a few years ago may now not be your most popular or even your most profitable. If you decide to push a new product or service, your logo and branding will benefit a change to reflect this. It doesn’t have to be a drastic change, sometimes just changing a colour or font can communicate different tone of voice to the way your branding communicates.
3. Repositioning your brand:
A rebrand can help attract new audiences or make you more appealing to your target audience. For example if you find you are attracting the low cost end of the market but actually want to attract a higher level of customers, a rebrand will definitely be the key to achieving this.
4. Changes in your market:
Your market may have changed over the years, for example if you are in retail the need to sell online is now a priority so your business may have moved from the high street to the web. A change in branding will definitely be needed to reflect this change. Don’t be another Blockbuster Video!!!
5. Customer engagement is down:
Customers get bored and with more and more businesses starting up there is always going to be a new exciting competitor just round the corner. A brand refresh will spark customer interest and show that something new and exciting is afoot.
6. Brand Reputation:
If something happens and your company starts to get a bad reputation for whatever reason, it could soon cripple your business. A new brand will definitely be worth looking at to try and dispel any negativity associated with the old brand. Remember a brand is more than just a logo, a change to your values and standards also need to be looked to create a new identity around.
7. Mergers and Acquisitions:
Major changes to your business will normally spark a new brand exercise. Even if you merge with another company and you decide to keep your company name the rest of your company probably wont stay the same and your logo and brand needs to reflect this.
8. Competitor differentiation:
Your close competitors may have very similar messaging to yours and therefore carry similar branding. Keep an eye on your competitors and always focus on communicating your USP through your brand for a truly unique brand.
9. Time to get a brand not just a logo:
As a start up when cash is tight, you look for cheap ways to get set up and use various sources to create your logo, website, business stationery etc. If this is the case then take another look at your logo, website, all marketing material and all other client touch points. Is it all consistent in terms of colours, fonts, tone of voice etc.
10. Internationalisation:
If you are planning to start selling internationally or grow your international client base, do your research. Your company name may have certain unwanted meanings in other languages.