Maybe you started out with branding that was perfect. It communicated to just the right people in just the right ways, and public perception of your brand was strong.
But if you’ve been in business long enough, you already know you’ll be back to the drawing board eventually. The truth is, your brand has to evolve with the environment around it, or else it’ll die out.
What was once perfect will become outdated. Here are a few signs of letting you know it’s time to rebrand.
1. Your business is growing
Enough growth can signal a need for change. After all, growth is a change in itself.
A bigger company is simply going to be run differently than a small one, which means there may be shifts in your company culture, the methods of production, even your values.
If the change becomes significant enough, you’ll have to examine whether your branding is still as effective as it once was for your business model.
2. You’re targeting a new audience
Sometimes in the expansion process, brands decide to start targeting a different demographic. It should stand to reason that a different audience would respond best to different stimuli.
In other words, if your demographic changes, so should your brand. It doesn’t have to be drastic, but it should be tweaked enough to speak directly to this new set of interests and concerns.
3. You have new competition
Changes might be forced on you with new competition. What sets you apart from a similar business freshly on the market?
To avoid confusion and retain customers, your branding may need some adjustments. Look at what is working for this new brand.
- Is it so similar to yours that there is a risk of confusion?
- Or is it simply doing a better job and making itself more relevant?
4. Times have changed
Speaking of relevance, your branding style runs the risk of losing its relevance the longer you’re around.
Depending on the product or service you offer, your branding might last a decade or it might lose its relevance in a matter of months. Pay attention to the market and trends, and make sure you don’t get left behind.
Impacting Your Image
With all of these variables that could affect the position of your brand, it’s tempting to make changes often and without much reflecting.
But remember that this too will affect your image. People need to be able to recognize your brand, and with frequent changes that may become difficult. You might even lose their trust if they feel your brand image isn’t genuine.
Branding changes, when done effectively, also take time and work, which means you’ll be spending resources to make them happen.
Make sure the problems facing your company are really in the branding, and not in other issues like the communication or management from within. This is not a decision to be taken lightly.
And when you’re ready to try these changes, let your customers know. Get them ready for the new look with announcements and updates leading up to the changes.
Do the work ahead of time to make sure that, when the time comes, your customers are on board and ready to take this journey with you.