Over time, businesses grow and evolve, and so should their branding. After all, Nokia started out as a paper mill company, but most people now associate their name with quality phones and electronics. They have made sure that their brand clearly reflects that. If you are unsure if it is the right time to rebrand or not, look for these 5 telltale signs.
1. You Are Failing to Stand out
The primary purpose of branding is to ensure that your customers are easily able to differentiate you from your competitors. If your logo, name, or message looks too similar to that of others on the marketplace, you are bound to lose out to your customers. Rebranding and focusing on what truly makes you unique will remedy the problem.
2. Your Brand Has Become Too Complex
If the message and image that your brand gives across to your audience are that of a confusing mess of various contrasting offerings with no common narrative, then you are likely to not find it very effective. Branding should be simple and streamlined. Focus on your business’s core values and product and rebuild your brand around them.
3. You Look Outdated
This is the first logo of Google. Do you think that the company would have found much success with branding if they had stuck with the original? Time changes a lot of things, including taste, expectations, and aesthetics. Your brand should reflect that and should modernize accordingly.
4. Your Products Have Changed
Remember our example of Nokia? How humorous it would have been if the famous phone company had a brand logo of a paper product. Since branding is all about what experiences your customers have with your products and services, if they change, so should your branding.
5. You’re Undergoing a Merger or Acquisition
At times, two businesses will merge, or one business will buy another to form an entirely new entity. Mergers and acquisitions are almost always time to consider rebranding.
Your rebranding should incorporate whatever the other company will be bringing to the table. Failure at brand alignments translates to failure in getting a coherent message across to your customers.
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