When is it Time to Rebrand?
For the month of June, our focus has been on branding. In the last few weeks, we’ve discussed its importance as well as significant factors to consider when creating a lasting brand. We’ve also provided examples of successful brands and delved into what makes them so strong. This week, we’re going to talk about how to know when it’s time to rethink a brand.
As we’ve covered in previous posts, strong branding demands consistency. However, throughout the lifetime of a brand, certain conditions can arise that require this consistency to be interrupted in order to replace the old brand with a new and improved brand experience. Below are four standard reasons that may cause a company to consider rebranding.
A tarnished reputation. Is the slightest mention or sight of your brand starting to carry with it some unflattering or negative connotations? This would be a key indication that it might be time to initiate some changes. In doing so, remember to address whatever issues instigated the damaging trend in the first place. Whether it’s substandard service or some other unsatisfactory condition, rebranding would be pointless unless these problems are dealt with.
Age. Has boredom set in? Has your company’s image become outdated and stale? A dated impression can be just as detrimental to your brand as a bad reputation. Refreshing a brand to reflect a more modern feel is a common incentive to revisit a company’s name, logo and design standards. After all, to be attractive to consumers in general, a brand needs to continue to come across as contemporary and relevant.
Your scope of offerings has expanded. Does your brand point toward a product or service that has become a much smaller aspect of your business than it used to be? Does your company even offer that service anymore? It might be a good time to rebrand if your company has grown in such a way that what you now do becomes overshadowed by what you used to do. You always want your brand to be up to date with your company’s present identity.
Changes in the market. If a company is around long enough, it’s possible it might be faced with market changes that require a reinvention and repositioning. If this occurs, a corresponding shift in branding would also be necessary.
Is your company exhibiting any of the above symptoms? Is a rebrand looming on the horizon? The truth is, it doesn’t have to be a painful experience. If you’re interested in developing a comprehensive strategy for your brand, click here for information about Weise’s Navigator session.