There is no definitive answer to the question, “When is it time to rebrand your business?”
However, you shouldn’t feel hesitant to ask it.
In fact, facing the challenge head-on and acknowledging that it is inevitable will help to make the solution clearer. Doing so isn’t a sign of indecisiveness or poor past performance; it shows diligence and perseverance.
Take Pablo Picasso as an example.
He constantly pushed the boundaries of art, experimented with new styles and techniques, and revolutionized the art world. In many ways, Picasso can be seen as a master of rebranding.
Picasso went through several distinct “periods” in his career, each with its own aesthetic. His Blue Period was characterized by somber paintings in blue and gray tones, while his Rose Period depicted a more active, joyful time in tints of red.
His Cubism Period was a radical break from traditional painting, and his later work continued to break new ground by challenging preconceived notions of what art should look like.
These periods were a refreshing sign of his growth throughout various challenges.
If you’re considering a rebrand that showcases your business’ improvements, we advise that you consult with professionals who can assess your current brand identity and determine whether a rebrand is necessary. With their partnership, you can create a strong and effective new brand that will take your business to the next level.
In the meantime, we do have some general guidelines to follow. These can help you better align your visual identity with your current business goals.
1. Has it been a while since your brand was created or updated?
If your brand identity simply feels outdated after a few years — typically three or more — it might be time for a refresh. Also, consider whether your logo and other branding elements are still in line with your company’s mission and values.
Although some elements of your branding may be timeless, tastes, trends, and goals inevitably change as time passes.
2. Is your company providing something new?
If you’ve made changes to your product or service offerings and are planning an unprecedented marketing campaign or relaunch, it might be time for a new brand identity that reflects those changes. This can ensure that your customers know what to expect from your company.
Companies may change their vision and objectives throughout their lives, and rebranding to reconnect with clients and customers is not out of the ordinary!
3. Is your name easily confused with a competitor’s name?
If you’ve chosen a name that sounds too similar to a competitor — especially one in your local area — potential customers may interact with their business, thinking it is yours. The confusion leads to missed opportunities, revenue, and misconceptions about your business.
Rebranding is necessary if you want to claim a unique place in the market and help customers more clearly understand what you are selling.
4. Are your services valuable but not selling well?
You may undertake extensive research to identify why your inquiries, reservations, tickets, or orders are declining. Afterward, if you have determined that prices are not the primary cause of declining sales, it’s time to reconnect with customers by building a more valuable brand to signal that your services are worthwhile.
Businesses need to evolve in order to adapt to dynamic markets. As much as you may cherish it, your initial vision may be unworkable — so contemplate taking a new direction that others will predictably want to follow for years to come.
5. Are you not reaching enough of your target market?
Establishing and maintaining a connection with all subsets of your target audience is crucial, and skilled rebranding promises maximum engagement specifically with them. It reflects their preferences, principles, and actions to form a positive reputation.
6. Do you need to improve your company’s public image?
Positive or negative, your business will always have a reputation. Is there anything you’d like to change about how your target audiences generally perceive it? In addition to public relations and review management, reworking your branding and messaging may be the answer.
7. Is your business expanding into new markets?
If you’re expanding into new markets, it’s time to see how you can better connect with your new customer base and build an undeniable presence in their social circles. Rebranding can ensure that your brand’s voice and appearance are consistent across all markets as well, which is essential for building trust with consumers.
8. Are you having trouble building your team?
Your potential employees aren’t just looking for a place to pass the time during the day; they want an organization strong enough to fund their livelihoods without fail. Many are preferably seeking a sense of belonging and fulfillment along with a particular set of values.
To create a workplace full of bright people who gladly contribute to the business’ goals, you’ll need clearly defined branding and marketing plans within and outside of your company.
9. Is your company not growing quickly enough?
Appealing branding can multiply the returns on your investment in search engine optimization (SEO), search engine marketing (SEM), and other forms of digital and print ads. If attracting and retaining customers is a struggle, think about financing a rebrand to build the profitable foundation of all else that follows.
10. Or vice versa — has your company experienced plenty of growth?
If your business has experienced significant growth, change has certainly been a result. Make sure that the abundant sophistication of its branding keeps up with the rest of its operations.
Is now the time to rebrand your business?
As an art and marketing studio providing interactive advisory services, Laurelow serves small companies determined to build legacies in the service sector. Contact us today to see if we can support your own business.