Have you ever heard the famous saying that you should never judge a book by its cover? Unfortunately, it doesn’t apply to your branding, as numerous of your target audience will judge your business based on the logo, mission, vision, and other outward representation.
Sometimes, the best thing you can do is get a total makeover, a rebrand that reinforces what your business stands for. To help you determine if it’s time to rebrand, here are five signs you should consider:
Your company’s vision has changed
If your business has changed direction over the past few years, that’s a tale sign that it’s time for a rebrand. However, not rebranding when your business has shifted focus could become confusing, causing you to lose many prospects since they can’t understand your brand.
Look into your new purpose, mission, and vision, and think of a way to bring the future of your company into focus. Think about why your business exists, aside from the making money aspect. It will guide you to rebranding your business into something that your target can resonate with.
Targeting a new demographic
When your business grows, there’s bound to be a new or different demographic showing interest in your products and services. That is a great sign and means you need to carter for the new targets.
In that case, your brand will need some tweaks to attract your target demographics. First, you will need to analyze the demographics in question and create a buyer persona that tells you more about who they are.
Your customers don’t know you anymore
There will come a time when your customers might not know who you are anymore, nor what your brand stands for. So if you ask them, “Who are we?” and there’s a common theme in their question, it is a sign your brand needs a rebrand.
The reason is apparent: you need to remind them what your brand is and its purpose. But, according to Barb Jones, rebranding will help you control that burgeoning chaos and define that narrative.
Your brand no longer represents your current status
After many years in business, your status in the marketplace is bound to change. Start by running a competitive analysis to see where your brand stands compared to your competitors. When you understand where you stand, you can rebrand your brand to reflect the current status.
If that sounds like a lot of work, you’re not alone. Many brands prefer to work with experts to rebrand their brands. If that is the case, go ahead and give us a call or fill out our contact form.