The new year is upon us, and with that… ch-ch-ch-changes 🎶 are happening! Especially so when it comes to your entrepreneurial endeavors! So whether you’ve updated your business’ vision, mission, or even team… it might be time to consider a rebranding or brand refresh strategy.
Sounds, scary? It shouldn’t be! Knowing when to rebrand doesn’t necessarily mean drastically changing or re-building your business from the ground up. It could be a subtle change only you (and your team) might notice, or it could be a large-scale update that will have people clamoring for more.
Whatever you choose to do, a rebranding strategy means one thing: bigger and better things are coming! Let’s take a closer look at how you can figure out when it’s time to rebrand – and what you can do to go through it successfully 💪
What is rebranding and how does a brand REFRESH strategy work?
Let’s start with the basics. What exactly is rebranding? Well, rebranding refers to “ […] the process of changing the corporate image of an organisation. It is a market strategy of giving a new name, symbol, or change in design for an already-established brand. The idea behind rebranding is to create a different identity for a brand, from its competitors, in the market.”
However, rebranding doesn’t have to entail a physical change. You can rebrand a business without ever changing its logo, name, or any other visual aspects.
While these might have something to do with the rebranding process and brand refresh strategy, changing them on their own doesn’t mean you’ve completed a rebranding strategy that’ll help your business set off on a rocketship towards success.
READ: 3 Ways Coworking Spaces Can Build Community Using Branding
Why? Because only changing these doesn’t affect the public’s perception of your brand. And where does your brand live? Yeah, you got it…it lives in consumers’ heads. If you fail to change someone’s mind or the idea they have of your business, your rebranding is lacking depth and needs to be revisited.
A logo change is a logo change. A name change is a name change. But a rebranding strategy goes beyond the limit of what consumers and potential customers see to touch how they feel and what they understand about your brand.
Three ways to know when it’s time to rebrand your company
Being so close to a business can sometimes make us overlook the little things. However, if we take a step back to admire it all from afar, we might start noticing that there are things here and there that could improve workflow or just the overall business experience. Some of these might be hiring more staff, raising prices, buying new software, setting up a new office, etc. All of that also applies to rebranding.
Here are three ways to know when it’s time to start planning a rebranding or brand refresh strategy:
1. You should consider rebranding when… your mission has changed
You might think that rebranding is necessary only when something external tells you “Hey, it’s time!”, but that’s not always the case. Sometimes, changes can come from within your own company, forcing you to take a hard look at what you say you are and what you tell people you are to see if they still align with what’s happening on the inside.
Let’s say you realized something wasn’t working…
- Maybe your mission statement was too broad
- Maybe you realized you didn’t like working with the clients you first signed
- Or maybe you want to narrow down your niche
…all of these are great! But they also mean it’s time to wipe the slate clean and either start fresh – which is doable with a little extra effort – or skew the perception people already have of your business to include these new goals.
Thinking of rebranding your business? Let’s work together! From website copywriting to content creation, The Quirky Pineapple Studio is here to help!
Sit down with yourself – or alongside your marketing team – and ask a series of hard questions that will lead to this realization:
- Do I still enjoy what I’m doing?
- Am I doing the work I always dreamed of doing?
- Am I working with people that bring joy, not stress, to my life?
- Does my business reflect what I believe in?
Make note of any changes you hope for (or anything you see necessary) and see if they require you to start planning for a rebranding strategy. If the answer is yes, keep only what you deem necessary and throw out the rest.
READ: Why Your Business Needs A Story Toolkit For Efficient Marketing
Rebranding is part “identity crisis” and part “planning for the future”. Once the two meet, something magical happens.
2. You should consider rebranding when… you’re launching a new product and want to reach a new demographic
Much like a mission change, a rebranding or brand refresh strategy comes in handy when you’re looking to expand your business and either offer more goods or services, attract a new demographic, or do both at the same time.
Launching a new product is a great way to know when it’s time to rebrand your company. With new products/services come new marketing opportunities, and with new marketing opportunities comes a new way to shine. Whether you’re growing your list of offers, or unifying previous ones under one category, rebranding can provide the perfect opportunity to cohesively bring them all together and send them out into the world.
The same goes for trying to reel in a new demographic. Reaching out to a new audience is a great way to kickstart a business that has started to stall. This might be because:
- Your initial target market wasn’t interested in what you had to offer
- The audience you were trying to reach was too broad
- The price point was off and didn’t fit with your potential customers
- You’re simply looking for even more opportunities to grow
As such, finding new customers who might be interested in what you have to offer is a great moment to revamp your business, give it an inside-outside makeover and increase your business’ appeal. Whether that’s with your existing market or a whole new one is up to you to decide.
3. You should consider rebranding when… the market has evolved and you’re staying behind
The great – and terrifying – thing about everything in life is that it never stops changing. And refusing to go along with it can be the death of any business, no matter how great it and their product is. Even some of the most successful companies in the world rebrand (think Uber, McDonald’s, Walmart, Facebook, Slack, Apple…the list goes on).
People change, right? Well…so do businesses. Rebranding is essential to small and large businesses that want to stay relevant within their market, in touch with their customers, and are looking towards continuous growth. It’s also a great way for more “old school” companies to modernize themselves and, as we mentioned above, possibly reach new markets and connect with a new audience.
In order for companies to be successful they need to be willing to learn, grow, and change. Brands that stay the same forever lose their ✨pizzaz ✨ after a while. Even Coca-Cola has rebranded…and they’ve been around the block a few times over.
Staying still will only help other businesses gain momentum, reach more people, and earn that coveted “Top Of Mind” title that all marketing wiz’s and business owners dream of.
When should you not consider rebranding your business?
For all the times it’s worth rebranding your business, there are also times when a rebranding or brand refresh strategy should be out of the question. The process of figuring out when to rebrand your company is long, stressful, and takes up a lot of resources, so it’s not something that you should take lightly.
So, when it comes to rebranding, you should avoid it all costs if:
- You’re bored and simply want to “spice things up” for a while
- A new team member wants to leave a mark or make an impression
- You’re unwilling to go deep and are just looking for a quick-fix logo change
- You simply can’t afford to pay for what it entails (designers, marketing team, branding experts, etc.)
- When nothing has changed and customers are happy with what you’re providing
Looking for someone to help with your rebranding strategy? Our team is here to help you rebuild your brand from the ground up. Let’s work together!
Always make sure you’re rebranding for the right reasons and not simply for the heck of it. In the end, a spur of the moment rebrand of your business might cause more damage than good. You know what they say: if it ain’t broke, don’t fix it.
How long does it take to successfully rebrand a business?
Let’s be honest, we all wish we could simply snap our fingers and come through with a fool-proof rebranding plan in the blink of an eye. That, however, is not the case.
Rebranding isn’t something that can happen in a week or a month…it usually takes up to two quarters for a company to go through a successful rebranding process. It takes time, money, and patience, but the results are all worth it in the end.
So, to wrap things up…
Is rebranding always the answer? Not necessarily. But, in most cases, especially when a business has been settled for a while, it might be the best choice.
So, how do you know a rebranding or brand refresh strategy is for you? You should consider rebranding when…
01. Your brand’s mission statement has changed
02. You’re launching a new product and want to reach a new demographic
03. The market has evolved and you’re staying behind
Rebranding takes time, money, and a lot of patience, but the results can be greater than the investment. Make sure you’re planning to rebrand your company for the right reasons in order to avoid a disaster in the making and take your time going through the internal and external factors that add up.
Have you (or someone from your team) ever taken on a rebranding strategy? What steps did you take to do so? Let us know below!
Enjoyed this post? You might like these, too:
Business And Marketing Lessons For Small Businesses
27 Business Myths, Debunked
Our 3 Favorite Small Business Tools For Organization & Marketing
3-Step Formula To Create A Powerful Brand Message For Small Businesses
