As a business owner, there will likely come a time when you question whether you should rebrand for numerous reasons.
Rebranding, in short, ‘is to change or update the brand or branding of (a product [or] service)’, and when done right, can give a new lease of life to a business.
Although rebranding is a big decision that shouldn’t be taken lightly, it can be the catalyst for growth, can help to prevent stagnation, and be the answer to a variety of challenges.
So, when is it time to rebrand?
Signs It Is Time To Rebrand
There are various signs to look out for that indicate it’s time to rebrand.
These include, but are not limited to:
- Your brand name no longer reflects your brand story
- Your brand identity doesn’t resonate with your target audience
- Your current branding is outdated or too generic
- Your brand has experienced negative associations
- Your business can’t gain a competitive advantage
1. Your Brand Name No Longer Reflects Your Brand Story
It’s likely time to rebrand if your brand name no longer reflects your brand story.
Change is necessary in business to facilitate growth. However, this means that what seemed like an excellent brand name 10 or even 20 years ago may no longer represent what your business is about or reflect your values and ethos.
A strong brand name is the foundation for your brand story, so coming up with a new name when rebranding is no easy feat.
Your brand name should be:
- Meaningful – Your brand name should communicate your brand essence.
- Distinctive – It should set your brand apart from competitors and be easy for customers to remember.
- Accessible – People should be able to say, spell, and interpret your brand name easily.
2. Your Brand Identity Doesn’t Resonate With Your Target Audience
If your brand identity isn’t resonating with your target audience, rebranding can be essential.
Brand identity includes everything from your logo to your colour scheme to your messaging and is tied to emotions and personal values.
Perhaps your target audience has evolved, or you’re trying to target a new audience. Either way, it’s crucial to recognise how customers perceive your brand, as perception heavily influences the decision-making process.
A survey found that 41% of businesses rebrand to cater to a change in target audience, emphasising how important it is to cater to the ever-shifting needs of your target audience.
Rebranding to come up with a strong brand identity that aligns with your target audience will can not only drive sales but also encourage customer loyalty.
The more your target audience relates to your brand identity, the deeper connection you can foster with them and the bigger impact your brand will have.
3. Your Current Branding Is Outdated Or Too Generic
Your branding is often the first impression people have of your business, and it undeniably affects customers’ buying decisions.
That said, outdated branding can damage your reputation and deter customers from engaging with and purchasing from your brand.
Additionally, if your branding is too generic, you’ll fail to stand out amongst your competitors and lack the distinctiveness to be remembered in a heavily saturated market.
If you’re looking to transform your brand, Creadigol Design is here to help. Our experienced team of graphic designers, strategists, and developers can create a clear outline to define your brand, emphasising who you are, what you offer, and how you want to be perceived to make a lasting impression on your target audience.
Get in touch with a member of our team today to learn how our branding and graphic design services can help.
4. Your Brand Has Experienced Negative Associations
It could also be time to rebrand if your brand has experienced negative associations.
Due to the rise of social platforms and the fact that 62.3% of the total global population uses social media, it’s become increasingly difficult for businesses to keep company crises out of the public eye. This can have a detrimental impact on businesses’ reputations.
If your business has recently undergone a major crisis or has experienced negative press that has irreversibly tarnished your reputation, rebranding can be helpful to create distance from negative associations.
By rebranding, you can begin to garner the trust lost under a new name and show your target audience why you’re a business worth investing in.
5. Your Business Can’t Gain A Competitive Advantage
Lastly, a sign it’s time to rebrand is if your business is struggling to gain a competitive advantage.
With the ongoing cost of living crisis on many people’s minds in the UK, it’s all the more important for brands to stand out to be able to compete. Ask yourself: What differentiates your business from your competitors? What makes your business better?
In order to keep up, it’s essential that your customers and staff have a greater understanding of why your brand is superior to the competition.
When rebranding, focus on these differences to highlight how you’re disrupting the market to not only entice customers but also keep them coming back.
We hope that this article has given you a better understanding of when it’s time to rebrand.
We are Creadigol Design – a UK-based bilingual full-service design studio designed to transform your brand and help you stand out in a crowded marketplace.
From brand strategy and identity design to UX/UI and web development, our team of bilingual designers, strategists, and developers are passionate about delivering world-class design solutions that are tailored to your unique needs.
Contact our experts today and see how we can help your business.
Written by Jemima for Creadigol Design.
