Signs It's Time To Rebrand
It’s easy to realize that you need to build a brand at the very start of an endeavor. But how do you know when it’s time to completely refresh your brand’s image? Here are some things to watch for when trying to decide if it’s time to rebrand:
Your mission has changed. Have you recently added a new division? Are you going through a merger/acquisition? Did you change your business model or strategy? All of these are reasons to consider rebranding. Ultimately, your brand is a reflection of your mission and core values. Any change in those, whether planned like the examples above or more gradual like a shift in the interests of your target market, should be reflected in your branding.
The market has evolved. When I was brought in to redesign Goldtoe Socks (read about that process here) it was because their existing customer base had aged out of their target market and their new target had different interests and values. Markets are never static. As such, it’s important to watch out for signals that indicate your market is evolving. These include decreased engagement, a lack of interest from your target audience, struggling to raise prices, being mistaken for someone else, and not attracting top talent. If you see any of these warning flags, it’s time to evaluate whether your current branding is up to snuff.
There is a problem with your current brand. Celebrities reinvent themselves, politicians issue apologies, and former criminals have come to Jesus moments. Your brand will go through similar experiences. Being embarrassed to hand out your business cards, rebounding from a scandal, or outgrowing your current brand package are all reasons to start the rebranding process. Whether the issue is that your message is unclear or just that your brand standards are overly complicated, rebranding can help solve your problem. If your brand isn’t working anymore it’s time to make a change.
Have you ever rebranded your organization? What was it that made you realize it was time for a change?