You know that favourite outfit you bought that you loved at the time and it made you feel all confident but now it’s not fitting right, it looks outdated and you’d feel embarrassed to wear it out to lunch with your friends? The same thing can happen with your brand. Just like we replace our clothes when they’re becoming worn out and they no longer serve a purpose, often we’ll need to revamp our business image with a rebrand. Rebranding can be a subtle enhancement (hello new accessories) or a dramatic new look (let’s grab a new outfit!). So, how do you know when it’s time to rebrand? Here are my 10 tell-tale signs you likely need to rebrand.
1. You don’t have a brand yet, just a logo
First things first, your logo is not your brand, it’s only a part of your brand. A logo is an easily recognisable graphic element that visually represents your brand and usually includes your business name and possibly your tagline. Your visual brand also includes your fonts, colour palette, icons, patterns and your imagery style to ensure brand consistency – it’s the overall visual feel of your business. If you only have a logo – you don’t yet have a brand. Often cheap logo sites will create a logo but there is no strategy behind this creation and you’re missing the rest of the brand elements.
2. You have no brand consistency and it all seems too hard
When developing any kind of marketing piece, you use whatever colour you feel like on the day or you’re completely unsure of what colours you should be using. You have 14 fonts on the go and it hurts your cute head just thinking about it. Inconsistent branding results in people not remembering you. Consistent branding across all channels also increases revenue by 23% so it’s super important to ensure you have consistent brand colours, fonts and imagery styles. When you hire a professional to create your brand, they should supply you with a brand guidelines document, so you feel confident using your brand – it really takes the guess work out of the equation.
3. You cringe when you look at your marketing collateral
You don’t want to hand out your business cards at events and you’re embarrassed by your website. This is a big reason you need to rebrand because if you don’t like looking at your brand, there’s a good chance your clients don’t either. First impressions count and your visual brands role is to convey your message and values visually and position you as a professional in your field. If your visual brand is poor and you’re looking less professional and more amateur, you could be losing business.
4. You’ve changed
When you started your business, you might have had different values, different messages, different services and/or different offerings. Now that you’ve grown and expanded, you may be finding that your brand no longer serves your future growth. Maybe you have new goals and a new direction. In this case, a rebrand is used to get clear on your future direction, release the old parts that no longer serve your brand and to communicate your new direction and offerings.
5. New audience
More and more businesses are niching down. When you started you might have been marketing to everyone but now you have a very specific type of client. A rebrand is a great way to get crystal clear on your new client demographics to ensure your new brand is a magnet to them.
6. You’re blending in with the competition
If you’re swimming in a sea of marketplace sameness, it’s time to stand out from the crowd and be seen! You’re unique, and your brand should be too.
7. You want to raise your prices
You know you’re great at what you do, and you know you need to raise your prices, but your clients aren’t seeing the value. By rebranding, you’re able to reshape the way your customers perceive you and you can then raise your prices accordingly. Strategy is important, so be sure to work with a designer who uses a brief form to understand your new brand position.
8. You need to move away from a negative image
Unfortunately it can take time to build up your brand, but one business faux pas can damage your brand instantly. Rebranding your business after experiencing negative publicity isn’t easy, but it can be a good way to show your clients you’ve grown through what you’ve gone through and this can have a positive impact on your audience.
9. You’ve scaled fast
Maybe you needed to get your biz up and running fast so you took short cuts with your brand but you’ve scaled fast and now you need to compete with bigger brands. A brand specialist can work with you to position you well amongst the bigger guys using targeted brand strategies.
10. Ch, Ch, Ch, Changes
The last few reasons for a rebrand include a change in your geographical location or you’re wanting to expand into other regions in which you do business – often it’s a name change which results in a rebrand. Lastly, you may have partnered with a new business, taken on an investor or you’ve had a restructure and your brand needs to accommodate for these changes and a rebrand can ensure the brand is aligned with all parties involved.
If you’ve recognised you have a problem or two with your current brand, a rebrand can be a great way to refresh your business and move forwards with confidence. Branding is an investment in your business so be sure to hire a professional who can work with you on your goals to create a brand that positions you as a leader in your field.