Has your business reached a point where your brand identity no longer aligns with your original vision or your efforts to grow are stunted? If your answer is ‘yes,’ your brand is evolving and it may be time to think about rebranding.
What is rebranding?
Rebranding is the process of establishing a new brand identity and pivoting in a new direction while maintaining the foundation of what your current brand stands for.
Rebranding is much more than creating a new logo, changing your brand colors, or even renaming your business.
Your company could be expanding into a new market or offering different services and rebranding is a reaction to the changing and growing needs of your customers.
The process of rebranding is different for each company. It can be very costly and involves a lot of time and energy, so your decision to rebrand should be considered thoroughly before you begin the process.
Here are some reasons rebranding might be a good move for you:
- Your company has purchased another company or your company has been purchased. When two companies merge into one, they bring their own unique brand identities with them. The key to your merger being successful is working together to discover a new identity and build a brand that represents the values of both businesses.
- If your brand no longer resonates with your target audience, it’s time to attract new customers. Rebranding will help you achieve this goal.
- If your branding is outdated, it’s time to update your company’s image.
- During the pandemic, many businesses have closed their brick-and-mortar businesses and focused on online shopping. If this has occurred to your business, you might want to consider rebranding.
- Perhaps you launched your business quickly and your branding was never fully completed. It might be time to rebrand.
- If you’re bored with your brand’s look and feel, you can definitely refresh your brand or do a complete makeover.