Your brand is your business’s most valuable asset.
Rebranding has to start with a focus on strategy, a clear process, creative vision, and importantly reasons why.
Branding can be misinterpreted, in that a logo is a brand and vice versa. A logo is just a small part of the overall branding of a business or product.
A brand is the total of all of the touch-points that come into contact with current or potential customers.
Example of touch-points can include:
· Marketing material
· Business premises
Branding touch points can even be down to how staff communicates with your customer base. In short, your brand is the bigger picture & the logo is the centre point.
There are many reasons to rebrand, some of which are outlined below.
1. Outdated branding
Your current branding may have become outdated and does not reflect your current business. Your branding may have been done on a budget or with little thought at the beginning but now doesn’t suit your business.
2. You are finding it hard to differentiate from competition
Your brand may look similar to many of your competitors in your field. Branding is about creative competitive differentiation.
A rebrand can help you identify and redefine your key differentiators, including your competitive advantage: the thing you do better than any of your competitors. Your competitive advantage is the differentiator that defines your brand against all others.
3. Your brand had become overly complicated
Is your brand experience confusing? Do you have a bunch of offerings with no unifying brand narrative? If yes, it’s time for a rebrand.
4. Your business strategy has changed
You can’t predict outside forces, as we have recently seen – these outside forces can dramatically change the course in which you may do business. When changing your brand to suit the business changes, you must consider the companies purpose, vision, mission & values. Your current brand may not reflect the new direction, therefore a rebrand is needed.
5. Undergoing a merger or acquisition
Almost always there is some level of rebranding with mergers and acquisitions. It could mean a new name, logo, re-evaluation of offerings and touch points.
6. Brand name no longer reflects brand image
What was a great brand name 10 years ago may no longer represent what your brand is about today. Changes in cultural context can change a brands meaning or the name simply feels like it doesn’t fit. A strong name is the core of your brand story. It’s your brand’s centre point on every touchpoint your customer engages with. Your brand’s name should be unique, differentiating and memorable.
7. Wanting to connect with a new audience
Your audience will change over time &rebranding can help reach that new market. This could be a more strategic approach, looking into messaging and how to communicate with the new market.
8. Technological Advances
Advances in technology may mean the business has had to pivot away from it’s original set up. Maybe your business is now based online or the way you do business has completely changed. This can all affect how your business is perceived, does your brand align with the changes?
You may want to consider a rebrand if any of the above rings true to your business.
We would never recommend – diving straight in – a rebrand doesn’t have to be a full overhaul of the whole business, it should be driven by needs for a rebrand.
Talk to our rebranding experts.
If you are thinking of rebranding your business, we can help you at every stage of the project – from the initial planning to the final roll-out.
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