Time for Change: 5 Signs Pointing to Business Rebranding
Often, there are many reasons why companies opt for rebranding as an option to relaunch their image. For some, it’s all about reconnecting with customers. While for most, it’s all about entering a new chapter for growth.
Although rebranding is good for the business, it is also a risky move that needs thorough planning. The question is, how would you know if it’s time to rebrand? Here’s how.
1. You Look the Same as Other Companies
As industries change and evolve, most brands do what it takes to stay in the competition. However, there are instances where brands start to think and pick their paths the same way as others, subconsciously adopting similar traits. In effect, the distinction, authenticity, and chance to remain unique could diminish.
But there isn’t anything rebranding can’t solve. Even if a majority of brands surrounding your company often look the same, you can always find a way to gain leverage. A company can change its logo, the elements representing it, or how people can see it as different, one of a kind, and original through rebranding.
2. You Want to Target a New Audience
Companies may be confident in a specific target market they have right now. But it doesn’t mean there will be a chance in the future that the consumers they’d like to attract will change. Rebranding offers a new look for businesses to acquire more buyers to trust and support them.
A brand should always speak to people they’re trying to reach. Therefore, a rebrand may be the right choice to communicate with a new set of people you’d want to work with one day. However, also try to consider your current audience and how they would feel about the change. Rebranding should accompany both audiences, present and potential, to ensure the two parties will still support the brand regardless of differences.
3. You Wish to Go for Brand Expansion
It’s inevitable for brands to grow, especially if the business is doing good. There is a massive chance that companies would need to rebrand alongside their eventual business expansion.
Rebranding before expanding your company is an excellent opportunity to tap on possible errors or mistakes in the past, correct them, and move forward to the next chapter of your firm.As soon as your business reintroduces itself to the people, even the tiniest mistakes have been taken care of, hopefully ending the errors in future transactions.
4. You Desire a Change in Your Values
As businesses progress, their values may change along with the people they serve. Most of the time, consumers nowadays would like to support brands whose values align with their beliefs. It isn’t only about selecting the best brand in the market. Sometimes, it’s all about which businesses best represent what people stand for too.
Therefore, as more consumers become aware of harmful practices, values, and beliefs, rebranding might be a great way to recalibrate what the business stands for and represents. It might be your ticket to acquiring new customers, as people believe in what the company stands for now more than ever.
5. Your Firm Merged or is Acquired by a New Owner
Lastly, ownership or a new partnership comes with a new era. Rebranding when two companies come together to work towards a common goal is an ideal way to reintroduce the merged companies as one.
Rebranding creates a diagram of similarities and differences by both companies, maximizing traits to focus and recalibrate on what they would like to achieve and present to customers. However, you must handle rebranding due to merged or acquired ownership with care. Many people do not like how companies rebrand after the acquisition, thinking that the business is a new one that’s different from what they supported in the past.
Conclusion
Although rebranding seems to be a process that can solve various problems, you shouldn’t take it lightly. Every move made by massive companies depends on their brand strategy. Not all who chose to rebrand themselves became successful in what they did. However, if you think branding is the best route for your business, then take a chance on it with a great plan in mind.
Brikwoo is a web design agency based in Chattanooga, offering various services to help clients build a website based on their needs and preferences. We also specialize in logo design, video marketing, book publishing, and graphic design. Visit our website today and book a free discovery call right away!
Although rebranding is good for the business, it is also a risky move that needs thorough planning. The question is, how would you know if it’s time to rebrand? Here’s how.
1. You Look the Same as Other Companies
As industries change and evolve, most brands do what it takes to stay in the competition. However, there are instances where brands start to think and pick their paths the same way as others, subconsciously adopting similar traits. In effect, the distinction, authenticity, and chance to remain unique could diminish.
But there isn’t anything rebranding can’t solve. Even if a majority of brands surrounding your company often look the same, you can always find a way to gain leverage. A company can change its logo, the elements representing it, or how people can see it as different, one of a kind, and original through rebranding.
2. You Want to Target a New Audience
Companies may be confident in a specific target market they have right now. But it doesn’t mean there will be a chance in the future that the consumers they’d like to attract will change. Rebranding offers a new look for businesses to acquire more buyers to trust and support them.
A brand should always speak to people they’re trying to reach. Therefore, a rebrand may be the right choice to communicate with a new set of people you’d want to work with one day. However, also try to consider your current audience and how they would feel about the change. Rebranding should accompany both audiences, present and potential, to ensure the two parties will still support the brand regardless of differences.
3. You Wish to Go for Brand Expansion
It’s inevitable for brands to grow, especially if the business is doing good. There is a massive chance that companies would need to rebrand alongside their eventual business expansion.
Rebranding before expanding your company is an excellent opportunity to tap on possible errors or mistakes in the past, correct them, and move forward to the next chapter of your firm.As soon as your business reintroduces itself to the people, even the tiniest mistakes have been taken care of, hopefully ending the errors in future transactions.
4. You Desire a Change in Your Values
As businesses progress, their values may change along with the people they serve. Most of the time, consumers nowadays would like to support brands whose values align with their beliefs. It isn’t only about selecting the best brand in the market. Sometimes, it’s all about which businesses best represent what people stand for too.
Therefore, as more consumers become aware of harmful practices, values, and beliefs, rebranding might be a great way to recalibrate what the business stands for and represents. It might be your ticket to acquiring new customers, as people believe in what the company stands for now more than ever.
5. Your Firm Merged or is Acquired by a New Owner
Lastly, ownership or a new partnership comes with a new era. Rebranding when two companies come together to work towards a common goal is an ideal way to reintroduce the merged companies as one.
Rebranding creates a diagram of similarities and differences by both companies, maximizing traits to focus and recalibrate on what they would like to achieve and present to customers. However, you must handle rebranding due to merged or acquired ownership with care. Many people do not like how companies rebrand after the acquisition, thinking that the business is a new one that’s different from what they supported in the past.
Conclusion
Although rebranding seems to be a process that can solve various problems, you shouldn’t take it lightly. Every move made by massive companies depends on their brand strategy. Not all who chose to rebrand themselves became successful in what they did. However, if you think branding is the best route for your business, then take a chance on it with a great plan in mind.
Brikwoo is a web design agency based in Chattanooga, offering various services to help clients build a website based on their needs and preferences. We also specialize in logo design, video marketing, book publishing, and graphic design. Visit our website today and book a free discovery call right away!
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