Is It Time to Rebrand?

The decision to rebrand your business can be a tough one to make. After all, maybe you really like the aesthetic and voice of your brand. We’ve talked before about the importance of not only knowing and understanding every aspect of your brand but also staying consistent to it.

Are you connecting with your target audience?

Even if you’ve solidly branded your business, there’s still a chance you might not be connecting with your target audience (in other words, your customers). That’s disappointing and frustrating—and it’s bad for business because branding is one of the best ways you can build customer loyalty.

So, is it time to rebrand?

Does this mean it’s time for you to rebrand? Maybe. There are several important indicators that will signal to you that your business is in need of a change in brand. It’s important to consider this change carefully and strategically. After all, it’s bad to hold off on rebranding when you should be doing it, but it might be considerably worse to actually undertake a rebrand when you really don’t need to.

What are some bad reasons for rebranding? 

If you just want to keep things fresh and interesting, that’s not a good reason to rebrand. If you want to influence your industry and move it in a new direction (even though there’s no other sign it’s supposed to be moving in that direction), that’s probably not a good reason to rebrand either. Here are some examples of rebranding attempts that went wrong.

On the other hand, there are several very good reasons to rebrand:

You need to differentiate yourself from the competition. 

Your brand looks the same as one (or two or three) other companies within your field. Not only are people confusing your businesses but also there’s nothing to signify what makes you unique and special. If you’re a real estate agent, you don’t want your brand to look like every other real estate agent out there. Ask yourself what makes you special—whether that’s your in-depth knowledge of the area you represent, or your outstanding patience with first-time homebuyers—and make that a part of your messaging.

People are misinterpreting you. 

People perceive your product or service as being for the wrong customer demographic, or they think it’s available at a different price point, or it ascribes to different values. Rebranding can help you give customers a better idea of what you have to offer. For example, if you’re a luxury boutique specializing in high-end fashion accessories, but everyone thinks you’re selling cheap costume pieces for teenage customers, it’s time to rebrand.

Your business has changed and your brand needs to reflect that. 

You aren’t offering the same thing you were 20 years ago, and it’s important that your logo, lettering, color palette, and voice all reflect that. Imagine you’re a restaurant that prides itself on an unhealthy but delicious menu. About 10 years ago, you started introducing a few healthy options that were surprisingly well-received by customers. Now half your clientele looks to you as a place for a wholesome, nutritious lunch, even if you still offer some of the options you were known for in the past. In this case, it might be time to update your brand as a reflection of that.

You need to shake off a bad reputation. 

Have people started to think poorly of your business? If you undertake a rebrand, you won’t technically be starting a new business from the ground up—but people might ascribe their feelings about your business to your old brand, and this new brand will give them a chance to form new opinions. Let’s say your business got temporarily closed by the health department, but you’ve re-opened and you’re doing a much better job than you were before. A rebrand signifies to your customers that things have changed. Here are some examples of companies that rebranded due to a bad reputation.

Things To Keep In Mind When Rebranding

When you’re undertaking your rebranding, you don’t have to throw away everything that you currently have. Keeping some aspects of your current brand might help with recognizability once things have changed. Maybe you want to keep your color palette but create a new logo. Maybe it’s the aesthetics of your brand that need to change, but your brand voice can stay the same.

When you’re rebranding, you are at full liberty to change anything and everything if you want to. You can even change your company name if that feels appropriate (remember when Dunkin Donuts changed its name to simply Dunkin?).

Additionally, you should be realistic about the timeline you’re keeping as you undertake a rebranding. For a big company, a rebrand could take up to six months or even a year whereas a smaller company might be able to roll out a successful rebrand in only a few weeks.

Here are some examples of some of the all-time best rebranding campaigns.

At ASMM Digital, we know the importance of a strong brand—and we want to help your business feel confident in the brand that you have. Reach out to us today by calling 443-679-4916.