Businesses evolve, and customers evolve too: a brand that’s relevant today may well be a thing of the past tomorrow.
As a business owner, how do you know when it’s a good time to rebrand? Here are a few instances when a rebrand is worth considering:
You are not differentiated enough
Why should your customers choose you? Is it your dedication to quality? Your customer service? Is it your pricing?
Understand exactly what makes you attractive in your customer’s eyes, and build your brand around that promise. Know whom you want to serve and speak directly to those people. You may alienate a part of your customer base, but you’ll gain loyal advocates over time.
And remember, if you’re trying to help everyone, you’ll be helping no one.
You’ve outgrown your marketing
Sure, the killer website and logo your friend made for you back in the day kicked butt! It got your business off the ground and it helped you understand your offering and your customer in the process.
But now, as you've grown, you cringe when you look at them, and as a result, you're hesitant to share them with your prospects.
Instead of enabling your business, your marketing has become the roadblock in your business.
But... that's a good sign, it means your business is doing well and it's time for an upgrade!
You’re pivoting your business
Whether your business model has evolved, you’re undergoing a merger or an acquisition, or you're trying to reach new audiences — the nature of your business has changed.
As a result, your brand's promise has evolved, so be clear about your new strategy and make sure your customers are aware of this transition.
Sure, this will inevitably ruffle someone's feathers, but trust me, it’s better than sweeping it under the rug.
In conclusion, whether you want to reach new audiences or refresh your messaging and visuals, consider rebranding carefully and ensure your stakeholders are aligned, so your brand can remain relevant for years to come.
And more importantly, make sure you're taking your customers along for the ride.
