Often, when people refer to a “brand” they frequently mean “brand identity. A brand identity is the visible element of your brand. This includes elements such as colour, design, ‘look and feel’, and the logo that  identifies and distinguishes your brand in consumers' minds. Building a positive brand image will assist with bringing in consistent sales and make product rollouts more successful as it appropriately positions your brand. If you think of your business as innovative and forward-thinking, a rebrand will be in the cards soon. If your brand evolves, your logo and identity must change too.

So, what does a rebrand entail?

Rebranding is a marketing strategy that involves changing a company's corporate image or organization by developing a new name, symbol, logo, and related visual assets like marketing materials. The goal of rebranding is to create a new and differentiated brand identity in the minds of consumers, investors, prospects, competitors, employees, and the public.

Here are4 early signs that indicate that it’s time for a rebrand -  popularly known as the face lift of business.

 Yes, just because your logo worked 10 years ago, doesn’t mean it is still relevant or even striking enough to assist with brand establishment.

1. Your brand is painfully outdated 

Usually, when you’re too embarrassed to hand out your business card or if you’re hesitant to show someone your website – it’s the first sign that you desperately need a rebrand. Yet another possibility to consider: Maybe the branding just doesn’t (and perhaps never really did) accurately reflect the business’s true corporate identity, its purpose or the unique offerings that set it apart from the competition.

2. Your product or service offerings has changed or evolved

Most companies evolve and change over the years, and it’s natural to want your logo and brand to fit in with your new direction. Often, to stay competitive, companies must evolve their brand and branding.

Whatever the reason for the business shift is, if your branding no longer accurately reflects your offerings, it may be time for a rebrand — or, at the very least, an update to your existing branding to reflect the new realities of your business.

3. You can’t be differentiated from your competitors

If your company has seen competitors gradually cutting into its market share, the root of the problem likely runs deeper than just the branding. This is a sign that your business might need to do a thorough self-examination to identify why competitors are gaining ground — and why your business is losing out on a piece of the pie.  Before you dive too deep into the rebrand, take some time to research your competitors, what they’re doing, and how your company can differentiate itself. By doing your due diligence, you’ll be able to identify the things that make your company unique and shine a light on the value and unique service offerings that you can deliver and others can’t.

4. It doesn’t reflect your company values anymore

The main reason behind branding is that it should reflect your unique selling proposition, values, and what your brand stands for. If your current brand identity doesn’t reflect those values accurately, it’s time to re-evaluate and restructure the identity.

Do you think it’s time for a rebrand? Get in touch with our award-winning creative team here.

Sources

https://www.thebrandonagency.com/blog/8-signs-its-time-for-your-business-to-consider-a-rebrand/

https://www.crowdspring.com/blog/how-to-rebrand/

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