4 Signs It’s Time to Rebrand Your CompanyMarch 17, 2015
Many companies have outdated brands without even realizing it. They simply come up with a brand at the onset of the business launch, and pretty much forget about it. However, there are many circumstances that call for a rebranding of your company in order to stay relevant and maintain your profitability.
If you find yourself in any one of the following 4 situations, it might be time to rebrand your company.
1. You’re Losing Customers to Your Competition
If you notice sales heading south, it might be time to rebrand your business and give it a new lease on life. Maybe the competition has a more relatable brand, and one that sends a clear message to customers. Brands aren’t just about logos – they’re also about telling an accurate story about the business and using such storytelling as a means to reach out to customers.
Your brand needs to have energy, which customers instinctively flock towards. People should be excited to use the products or services of a specific brand. Essentially, your brand needs to evoke a specific response from your clients, or they’ll just head of to the competition.
2. Your Logo Looks Like it Was Designed by an Amateur
Technology is constantly making leaps and bounds, so having an amateurish logo just isn’t going to cut it in today’s world. Your logo needs to be interesting, attention-grabbing, professional, and gives customers a clear idea of what it is that you do. Having it designed by a professional graphic designer is important, as is revamping it once in a while to keep up with the times and ensure it still accurately reflects your business.
3. Customers Mistake Your Brand For Another Business
Your brand needs to be clearly distinctive. People can easily confuse your brand with another. While it may be challenging for businesses to come up with their own unique identity, but it’s important. If you’ve had customers who thought your products or services were different than what you actually provide, you might need rebranding. Make sure to conduct some research and make sure that your company’s name and logo truly are unique, and unlike any others in your niche.
4. You’re Unsure of Who Your Target Audience is
The customer research you conducted a few years ago when you first launched your company might be outdated today. Markets change over time, as do customer identities. It’s crucial to gain a full understanding of your target audience when branding you business. If you haven’t looked at your key demographics in years, it might be time to rebrand. This isn’t just about adjusting the cosmetic look of your logo and website; it also involves increasing your customer outreach through effective, targeted marketing.
The Bottom Line
Having a business isn’t just a set-it-and-forget-it deal. Instead, you should regularly keep tabs on everything involved with your business’ brand to make sure it’s up-to-date, and still attracts your target audience. If any of the above signs have popped up recently, you should get in touch with a professional graphic designer to help you successfully rebrand your business.