Creating a new look for the business is a great revenue earning strategy, but what's more important is knowing the right time to implement the rebranding process. Read to know the signs that your business needs rebranding.
A classic logo, an extraordinary brand color pallet and a catchy message to grab the attention of the users. Creating a brand identity that lasts for a longer time in people's minds takes lots of time and effort, but you know what is more daunting than creating it?
Maintaining its value! Yes, in the tough competition that surrounds the brand in the market, it is hard for brands to keep up with their uniqueness while also maintaining the audience's interest by running with the trends.
The perception of the brand and its vision at the time of the launch might be different based on which the brand identity was created years ago. But now when everything has changed with time do you think it's time you give your brand a creative touch that could match up with today's time without losing its authenticity?
This is a big decision though! Because there are many brands who after implementing the rebranding strategies have faced a loss in their audience interest and brand value. So before you decide to take a step, examine the following signs carefully.
- Lost uniqueness due to similar looking brands
You are into the food business, you have designed a logo based on the philosophy that says that yellow and red colors are what can attract the most customers when it comes to food.
As color is what the brain processes first than it processes the words and shapes. It is very obvious that this fact might be known by most of your competitors and they would also design their logos accordingly. This increased craze of following a belief might make your brand look common and it would no more interest your audience as there is nothing interesting left for them to notice.
So if you feel your brand identity is getting lost in the race of the market, it's time you think about the innovation.
- When it becomes a constraint
You are having a very experienced and outstanding team, their ideas to present your brand is something that could match the modern audience and their interest, but the only thing that constrains them is the old predefined brand formats and rules that the brand and its team are following since its very start.
Talk to your team, ask them to research and give you 5 reasons and ways that they think can match their ideas and redefine the brand identity.
You have grown as a brand so does your audience and their mentality. The old branding and advertising approach that you have been adopting might interest your old audience, but for the ones who are young and new to your product, holding on with the same strategies might not give you the same response as you used to get before.
Giving your brand a fresh and new look will help you allure the young audience and a second chance to your brand to spread the spell again.
- You have a new ownership/ partnerships
The next reason or sign your business needed rebranding is the new horizons that your business is reaching by partnering with the other brands. The merger of both brands must reflect the audience in the form of rebranding and giving them a sign that they can get both services under one name.
Doing this will need great care and a sense of business as the finalized version of your rebranding process is what could represent the growth of both companies after collaboration.
- Your product or services has changed
You found that your product is no more working or you are planning to add some new services into your old static ones, this is a great sign that a rebranding along with it can bring this updated version of your product more into the limelight.
Make proper planning about how you will develop the new product and based on its start implementing its glimpse in your rebranding campaign to connect it to the newer versions of your brand.
Start drafting your messages based on these campaigns as your old marketing messages might confuse your audience, so refine your words before you present it before your audience.
The brand identity that you're creating for your business is how your audience is going to perceive your business. Re-branding might be risky, but it all depends on how you implement and launch it to your audience keeping aligned your business strategies.
So don't just jump into execution, sit down, observe the above signs that your business shows and then make your decision.
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ABOUT THE AUTHOR
James Vargas is an experienced business expert, startup business consultant, and manager at Get Everything Delivered. With the 1.5-decade corporate experience, he is now sharing his guidance to start-ups to grow with corporate team building activities and project delivery solutions.
By: James Vargas