Your branding is your WHY. It’s why your business exists. It’s your raison d’être. And if your “why” has changed, then it’s obvious, it’s time to rebrand.
Unlike marketing, branding is long term, it transcends your entire business. It shapes your logo, packaging, website, everything. It is the first impression customers get. It’s your company’s DNA, its look, its feel. It helps you to build loyalty and project your values. So even if your “why” hasn’t really changed, there might be other reasons why you may need to rebrand.
Here are three other reasons why it might be time to rebrand:
#1 — Your Vision Has Evolved
Your vision is “how” you respond to your “why”. If you are now looking to enter a new market, or change the structure of your company (for example to become a franchise), then your vision has changed — and your brand needs to be realigned accordingly.
If your logo, brand identity, and packaging remain the same, you might face challenges executing your new vision. Your old branding will either not provide all of the benefits of good a solid brand identity; or will flat out get in your way and stop you from successfully realizing your new vision.
Your new branding should continue to project your core values (your WHY) but in a way that is aligned with your current vision.
#2 — Your Target Audience and Market Have Changed
Each audience has its own characteristics. You have to recognize and incorporate your audience into your brand in order to engage with them. If your target audience evolves significantly, or if you are looking to target a different audience, you will need to rethink your brand.
Branding is the best tool you have to maintain a long-term relationship with your target audience, so make sure it resonates with them.
Similarly, whether you are looking to enter a new market or your market has evolved, then you have a new environment to respond to in addition to a new target audience. Your brand doesn’t live in a vacuum. It shouldn’t ignore its surroundings. It has to respond to major changes in your industry or among your customer base to stay relevant.
#3 — You No Longer Stand Out
You got your start by standing out from the crowd and offering something fresh. But now your competition has caught up with you — and you look just like everyone else.
Well why not do exactly what worked for you in the first place: offering something new and fresh. Rebranding is the perfect way to differentiate yourself once again from the pack.
But rebranding doesn’t mean just designing a new logo. Branding is your “why”. So think about why it is that now you do what you do despite all the other companies out there offering similar products/services.
Once you know your new “why”. Then you are ready to rebrand.
Here is an example of a re-branding project we have done for Union Lighting & Decor.
“Ok, we have thought about our new why, and we definitely think it is time to rebrand. Where should we start?”
This is the part where I would suggest to new businesses to check out our DIY branding guide and familiarize themselves with the top 5 essential branding tools. There is no point for anyone to spend their budget on marketing an untested and underdeveloped idea.
But if you are looking to rebrand, that means you (probably) have a tried-and-tested product or service and would benefit from a professionally-designed brand.
Visit our Services page to see how we can make your new WHY a reality.