It's never too late - or too soon - for a brand revamp. If your organization is not seeing the movement and growth you had planned for with your current brand strategies, then it is time to consider a retooling.
It may seem like changing a logo or the font of your company’s name on business cards might not be a huge deal, but rebranding can be a very serious declaration of intent, a marker of your company’s commitment to evolution and upward growth.
What’s in a Rebrand?
Put simply it’s the act of redefining how your business is presented to the people you want to sell to, your audience. It could involve changing the name, modifying your logo or creating a completely new one. You could have all of your marketing materials re-designed or completely start from scratch with a new everything.
The scope of your rebrand will depend largely on the problems you’re trying to solve – which is the real point of a rebrand, not just to look a bit more modern. Good design looks nice; real design solves a problem.
Here are five compelling reasons why you may consider a rebrand?
1) Launched a new product or service with a new or different value proposition 2) Company mission has changed or need to regain customer trust 3) 4) You don't stand out from the competition 5) Your story isn't clear and you are lacking internal and external understanding
1) Launched a new product or service
Your company launched or is planning to launch a new product or service with a different value proposition to your current or new audience.
2) Your company mission has changed or you need to regain trust
At times, brands face negative feedback from customers. Domino's Pizza is a great example - some strong dissatisfaction with the taste and service went viral. In order to overcome the negative image, Domino's had to decide to go through with a complete rebrand that not only included a redesign, but change in ingredients, delivery and culture.
Their customers needed to see, taste and feel that changes were being made to correct the issues that had plagued the brand.
3) Needs of your customers have changed or you need to attract a new audience
Whether a company is expanding to a new territory or their messaging needs to be adapted for an audience segment that they were not communicating effectively to, a rebrand can help to become more universal to the new audiences as a whole.
4) You don't stand out from the competition
One of the biggest risks you can face as a brand is a lack of differentiation. If your customer's can't clearly find a reason to choose you over others, you risk losing them.
5) Your story isn't clear and you are lacking internal and external understanding
Do you need to adapt to consumer demands? Better address and reach a new audience? Evolve with the market and industry? Once you know what you are trying to accomplish, it is easier to set specific goals that will solve the problem and determine what kind of investment you need to make in a brand revamp.