How Do You Know It Is Time to Rebrand?

Part of starting a successful business is branding. So, you take some time to decide on the name of the company, the logo, color, typography, and such. However, you do that, and after some time you are still not happy, and you want to change all that. When rebranding comes to your mind, there are various changes you will need to make. So it is best to consider brand consultancy to ensure you don’t do more harm than good. There are many reasons to rebrand. So, when do you know it is time to rebrand?

Changing Location/ Globalization

If you are thinking of expanding your services across the world, then it might be time to rebrand. This is necessary if you created a logo or a name that is only familiar to the people around your circle. So, when going global, you want to change your logo, messaging, and name to help people across the world identify with it.

Changing Products or Services 

Rebranding does not happen when adding or removing a product in your catalog. It happens when you want to change your services or products to entirely something else. So, if you are breaking into a new market and changing your audience, you will need to rebrand. This goes the same with pricing and adding new materials or ingredients.

Bad Reputation 

Sometimes a business suffers a bad reputation that drastically changes how it sells. If people link your name or logo with a bad thing, the best thing to do is distance yourself by offering something new. It will not be easy for people to forget, but it will go away with time. When rebranding, accept your mistakes and work towards correcting them.

You are Doing Poor in Competition

If there are other businesses competing for the same audience and selling the same products, you might stand a chance if your brand is performing well. Remember, competitors have the same goal. This is why you will come across products with almost similar packaging or colors. So, if you don’t stand a chance with the competitors, it is best to rebrand. Create a new face that will help you stand on top of the competition.

Company’s Structure Has Changed

If you are planning to join another company, that means two brands will join. So, the two companies will need to develop a new brand that defines both of them. Other reasons that might result in rebranding include adjustment or adding new policies, new leadership, and such. When the company’s personality is changing from the inside, it is crucial to change the outside too by rebranding.

Conclusion

It is crucial to know the reasons for rebranding to know whether to partially or rebrand fully. It is a common and normal thing for growing businesses. So, if you are thinking of redefining your company’s mission, principles, and vision, rebranding is the best option. Make sure you get help from branding consultancy for better results. When trends are shifting, rebranding should be part of your company’s strategy.