Time for a rebrand?

As your business evolves and grows, situations will arise that will call for a rebrand. Rebrand programs help refocus your business — redefine who you are, what you stand for, and why you matter. It’s a process that provides clarity about your brand’s future and a chance to galvanize your employees.

Here’s a few scenario’s as to why or when a business may need to consider a rebrand.

You’re losing battles
Are your competitors growing? Is your market share dwindling? Are your sales decreasing?

These are clear-cut signs that you need to reconsider how your business is positioned in the marketplace. A well-planned and executed rebrand program will offer you the opportunity to demonstrate what your company truly stands for and present excitement to your customers, employees and shareholders.

Lack of direction
If you lack clarity and a credible reason as to why you exist, then your business is facing an uphill battle. Do you have the foundations in place as to why one decision should be made over another? Do you have clarity on where investment should or shouldn’t be made?. Does you workforce truly understand why your products or services are uniquely placed to respond to a customer need? What are the credible reasons as to why the best talent should come and join your company?

If you’re unable to answer these critical questions, you’re in need of a rebrand to create a greater sense of coherence and overcome the inefficiencies, frustrations and confusion that result in not presenting a consistent face to your audiences.

The landscape is changing
Geopolitical or cultural changes often lead to new services and products being launched. Occasionally, a response to those changes may come across with a particular viewpoint.

Businesses need to ensure they stay relevant, as well as competitive and profitable. Diversification, change or division are valid reasons that warrant a rebrand as your loyal customers and prospects will need to be brought on the journey.

Negative Image
It is not an easy task to distance a brand from negative connotations, but rebranding is sometimes a corrective measure and effective strategy for a company trying to recover from some bad PR.

It often works — think Stella Artois from being known as the “wife-beater” to becoming known as the “beer connoisseur”. And Samsung being known for their cellphones catching fire, to wining back trust by reminding users why they should love the brand.

But, a lot of the time it is just too late.

RIP Wilko, Debenhams, Borders, Pan Am, Blockbuster, Enron…

Mergers & Acquisitions
Changes of ownership often results in a rebrand to make the change visible and comply with legal requirements. Under new rule, your purpose, ambition and priorities may change. That’s a great time to make sure strategy and creative align to reflect the new goals, vision, message and personality.

Sometimes that will also lead to a name-change. The current names may not be right for the merged business. Maybe the name no longer fits who you are? Or you’ve may have encountered a trademark conflict. In any case, a change of name gives birth to a new existence, and provides a great opportunity to examine your entire brand from the ground up.

Your Brand is Dull
Even if you sell the most mundane product on earth, there is absolutely no reason for your brand to be dull. If there is an attitude of indifference that surrounds your brand, it’s because you have not discovered a compelling or relevant angle for its foundations. The solution is to find an authentic theme, apply a clear strategy and tell your story in a way that will surprise and delight people. What was widely perceived to be dull could become inspiring to others.

The need for a more modern image is the most common motivations behind a rebranding project. So as well as lacking clarity, if your brand looks dated or has a poorly-designed identity, it’s time to rebrand. A solid rebrand can help you retain old customers, while successfully attracting new ones.

Scaling
Some startups begin and experience growth without having a professionally designed brand. However, rebranding becomes an important step for young businesses to be taken seriously as they scale and challenge more established brands.

When it comes to rebranding, there can be big risks and rewards. The decision to rebrand should not be taken lightly without sound strategic reasons for engaging in the process, and the right branding partner to guide you along the way.

If you’re considering rethinking, refreshing or revitalise your brand, then get in touch.