When You Should Rebrand
Staying fresh and ahead of the curve is essential for a successful business. Most if not all business’ will go through a rebrand, whether it be minimal or a major over-haul. Figuring out when to rebrand is one of the most difficult, yet most strategic parts of the process. Let’s look into some of the most common signs you should look for to know it’s time.
Extending to a New Market?
Expansion is likely a great sign for a business, but with that, you’ll want to make sure your messaging platform expands as well. If your original demographic was a mainly rural focus, and now you are expanding into a metropolitan area, you’ll want to make sure to keep your marketing ever expanding with that change. Conduct market research as to what your new buyer market is and form a new marketing campaign to attract users alike.
Looking to drop the negativity associated with your business or brand? A rebrand is the perfect way to do this. Say you just bought a new business from someone, but the last owner had a pretty rough reputation. This could impact your sales and ROI if customers choose not to return to the establishment. By rebranding your business it will not only catch the attention of the old customers that were turned off with the negative connotation of the original company, but people in the area will see this as an exciting NEW place and in return, probably be more apt to support you.
Sending an unclear message of what your brand is obviously confusing to your target audience, but can always make you look unorganized and people could question if you know what you’re doing. You want to make sure you always have a clear, easy to understand, consistent brand. Not only will this speak higher to your target audience, but they will become comfortable and trusting of your brand with its reputable nature.
Rebranding should not be looked at as a negative or unsuccessful step in your business plan. It is essential in “keeping up with the times.” Everyone loves a fresh new idea!