Rebranding sounds like a big and scary word. For some, it can seem like a huge undertaking. Your brand is the voice of your business, and it’s the recognizable piece of your business’ identity, so it makes sense that making changes can seem extremely daunting.
It’s important to note that a rebrand doesn’t have to mean leaving everything you love about your brand identity behind. In fact, that should never change! But there are times when you need to do a little updating. Here are just a few:
Maybe when you started your business, your ideas were moving quicker than establishing your brand, so you just picked something and ran with it. Or, perhaps your business has been around for years and years, and suddenly you find yourself looking at your website and being embarrassed by something you once thought was super cool. This is pretty common and just means maybe it's time to modernize your brand to keep yourself relevant in 2021.
Have you started to take a look around at your competitors and it feels like it’s all just more of the same? Like everyone in your industry is kind of morphing into one? This can be common, and rebranding can help you stand out. Think outside the box, if you will. Let’s take the video streaming industry as an example. YouTube, Netflix, and Redbox all use the same colors. But fighting the trend can give you an edge - just take a look at what it’s done for Twitch and Amazon Prime.
Is your brand preventing you from trying something new? You could be expanding, trying new things, releasing new products, and attracting a new audience, but your brand isn’t giving you room to grow. This is another time you may want to think about rebranding, and giving yourself some room to breathe.
A change in leadership is always a good excuse to rebrand. A new CEO can change the overall vision and direction of your business.
Companies buy and sell all of the time. If your organization has decided to merge (or demerge) with another company, it’s important to consider your brand. Are you going to keep your name? Keep their name? Come up with something new? All of this should be discussed prior to the merger because it is a great time to rebrand and make sure that your branding represents who you are moving forward.
Are you taking your business international? It is important to consider what your current brand will look like and how it will be received in new places. Make sure that your name isn’t already used there or doesn’t accidentally mean something misleading. Many companies create a new brand to use internationally and it becomes a different entity than the business they already have locally.
Everyone makes mistakes. It’s how to react to them that shows your industry, and your customers, who you really are. So you were sued, someone high up in your company did something horrible, you got some bad publicity. All of these things may be a reason to rebrand. Rebranding can reduce (and hopefully eliminate) negativity associated with your brand. It is also important that along with the rebrand, you learn from your mistakes and make changes not only to the external brand but also inside the company. If the outside changes but the inside doesn't, your audience will be able to tell that the changes weren’t authentic and you didn’t learn anything from your shortcomings.
Rebranding is a big job. It’s important to think through a rebrand to make sure it’s not going to be detrimental to your business. If you’re considering a rebrand, reach out! We’d love to help.
