5 Signs It’s Time to Re-brand your Business
The power of rebranding is sadly underestimated in the business world today—even though rebranding the services you offer is probably the strongest face lift you can give to your business. Similar to a situation where you need to go out for a job interview; you don’t leave your house looking like you just woke up, right? You take the time to shower, dress up a little more than you normally would, maybe put on some makeup... All these things work together to improve your outlook before you step out for your day’s business. That, essentially is you rebranding yourself!
Look at companies like Coca cola or Nike for instance; have you ever wondered how they managed to stay relevant through the years? And how people still pick their products over thousands of others? The aim here is to show you instances when it’s probably a good idea to consider rebranding your business—give it a face lift to help it stay relevant at all times.
Does your business need a rebrand?
I can already hear some people saying “but Sylvie, when things are working, why would I want to change them and risk messing things up?!” Well, to an extent you might be right, but a reality we have to face is the fact that you have to keep generating creative ideas to keep people interested in your services.
So here are some signs that your business needs to update its brand:
1. You’re growing!
Let’s be honest, everyone wishes their business would grow, whether that means more employees, more clients, the number of services they’re able to offer, etc. So what happens when your business grows? You have to grow with it! This doesn’t mean you should change the essence of your brand—it’s still important to maintain your brand equity. But there’s a good chance you’ve outgrown some of the initial branding decisions that were made when you launched your business, so it’s important to re-assess where you are and adjust your brand and aesthetic to match.
2. Things aren’t going so well
No one wants a decline in their business but in the event that it happens, what your business may be lacking is a fresh start in the branding department. If the services you offer are top notch and you’re still fueled with passion when it comes to your business, then it’s really time to look into why potential clients aren’t seeing what you’re seeing. Don’t worry! A slowing business can definitely be sparked back to life with an updated brand that helps you stand out, and better represents your awesome business.
3. Your audience has changed
Are you trying to reach a new audience? Why not rebrand your business. When branding a business, one of the key aspects to consider at the beginning of the process is your target audience. It’s important that your brand speaks to the right people, and resonates with them. So if your brand no longer matches the audience you’re trying to attract, there’s only one thing to do!
4. Your business is merging with another
Maybe you’ve decided to partner up with another business, combining the services you offer or completely changing the scope of the projects you’ll now be taking on. If this is the case, it’s probably a good idea to reconsider your branding. There’s a good chance both businesses had their own separate aesthetic and maybe even a different target audience before merging. Taking a close look at all of this is important to make sure this new and improved business succeeds and is represented as ONE business.
5. Your brand is dated
Finally, when you feel like your brand is no longer up to par with the services you offer, or is getting completely lost in the crowd of competitors, it’s time to re-assess. Going back to the drawing board is not a bad thing, it can actually be pretty exciting! Keep in mind that this time around you might want to steer away from trends and opt for a more timeless aesthetic to ensure that your brand is long-lasting, but versatile enough to grow with your business.
As a business owner, it’s super important to be in tune with the way your business is changing so take a minute to observe that business of yours! Your business is a reflection of yourself so it’s totally guaranteed that your brand will evolve too. If you feel like you’ve outgrown your current brand – it’s probably time to go back to the drawing board and kick it up a notch!