TIME FOR A CHANGE

Branding - When is the Right Time to Rebrand Your Business?

When is the right time to rebrand your business? Rebranding can be expensive, time consuming and there is always a chance that your business will not see any significant improvement.

So, what is a rebrand?  A re-brand redefines how your business is presented to your customers. It could involve changing your companies name, updating or redesigning your logo, changing your marketing materials, or completely starting again from scratch. The scope of your rebrand will largely depend on the problems you are trying to solve. It is more than making your brand look a bit more modern. Only you can answer why you need to rebrand, but the following are questions that may prompt you to look at whether it is time to instigate this process.  (For more information on Brand Management click here)

Does your brand name no longer reflect your brand vision? What seemed like a good idea 15 years ago may no longer be representative of your company.

Do you feel embarrassed to hand out your business card or give details of your website address? Again, you are best placed to know if you feel your brand image is outdated and boring.

Is your brand too complicated? Over time, even the most prominent brands can become a confused assortment of sub-brands and product offerings. If your message is confused, so will your customer.

Are you failing to differentiate yourself from the competition? Your brand needs a point of difference and in a marketplace that could be overwhelmed with comparable competition, you need to reposition your brand to stand out from your competitors.

Are you currently undergoing a merger or acquisition? This is always a good opportunity to rebrand. How does your business fit into the brand architecture of the parent company? Failure to make sure that both brands are aligned with each other can result in confusion for the consumer.

Do you need to disassociate your brand from a negative image? Negativity on social media can have a devastating impact on your brand. Rebranding is one of the simplest and most effective solutions to help remedy this situation.

Please note that the views, thoughts, and opinions expressed in this article belong solely to the author, and not necessarily to any other group or individual. To ensure you are fully compliant with all current legislation, please take legal/professional advice and do not rely solely on the information provided in these articles.