“Out with the old, in with the new.”
It’s never too late to rebrand your business, but it’s always better to start sooner than later! Rebranding your business can help strengthen your brand’s presence and allow it to evolve. It’s not an easy step to take but if done correctly it can breathe new life into your business.
As a design agency, we often face clients with the misconception that a logo is the entire branding and vice versa. But, a logo is just a small, simple mark to represent your brand. Without a proper branding strategy in place, a brand will never withstand market demands.
A brand is defined by how you promote yourself and how you can make others feel about your product, service or business as a whole. It’s so much more than the visual components, it’s the voice, heart and soul of the brand.
Jeff Bezos (Amazon’s CEO) explains it best; “Your brand is what people say about you when you’re not in the room.”
While there may be many reasons for a company to rebrand, we’ve outlined five reasons below to give you a good indication of whether or not you need to rebrand your business.
5 REASONS WHY COMPANIES REBRAND
1. Differentiate yourself from competitors
At the end of the day, you want your brand to look different to competitors. If you feel like your brand is looking a little lost it may be time to reassess whether or not your brand needs an overhaul in order to reinforce individuality.
2. Keeping up with the times
Nothing lasts forever, and as time goes on you’ll have more and more businesses moving into the same market, trying to achieve the same thing as you. Sometimes a rebrand is necessary just to keep up with the times in the ever-changing, fast-paced consumer markets.
3. New service and/or product launches
Launching a new product or service is always very exciting, but it can easily confuse customers. Consider rebranding your business with unique sub-brands for different products or services, rather than try to integrate it into your current brand.
4. Your brand values have changed
It’s common for your customers needs to change over time, but what about your own? Often business owners will find that their brand may not be what they originally intended. It’s important that your brand represents what you as a business offer, if not you can easily create confusion among your target market.
5. You lack customer engagement
If you start to notice a lack of customer engagement then all that time and money best on marketing has gone to waste. This may be the right time to consider hiring a design agency such as Mobo Media for a full rebrand to assess where you are currently going wrong and to rescue your brand from possible extinction!