Rebranding is a common business decision, especially for businesses who want to continually stand out in their industry and get ahead of their competitors. Many brands go for subtle approaches, while others push harder for new imagery - different colour schemes, a new logo and even added products and services.
On your end, you might be in a battle between nostalgia and wanting to upgrade your own brand but you’re not getting the right customers and even the right job applicants. Your market is changing fast and maybe your message is no longer clear. Other companies are rebranding themselves, so why aren’t you?
Is it time to rebrand your business? Here are 3 signs to consider.
1. You Want to Change Your Image
Some brands, even successful ones, sometimes undergo a brand overhaul to shake off a former image when they’ve attracted the wrong market or have felt that their styles are outdated.
For example: You’re a high-end retail brand with a heritage that spans decades but you’re suddenly bringing in the wrong demographic. With new branding trends that make other businesses more memorable, you’d like to aggressively push for a fresh change with creative branding solutions. While keeping the tradition of your brand’s products and price range, you can opt to change the imagery of your presentation: make it bold and innovative - telling your audience that you’re timeless and trendy.
You don’t have to change your entire business model to appeal to a market. Sometimes all you need to do is change how you present your brand, maintaining an eye for detail that blends both tradition and contemporary tastes.
2. You’ve Outgrown Your Original Vision
Rebranding may be a necessity when you feel that your initial products or services no longer meet an expanding and demanding market.
For example: You run a company that develops social media planning and scheduling software. Initially, your product only handles the scheduling of posts on the most popular social media platforms and provides a monthly report on reach and engagement. Now, as Big Data has become a buzzword across industries, marketing analysts and other professionals want information beyond the usual numbers. You start to include other features like integrations to partner CRM software and data like sentiment analysis and share of voice, while still highlighting, your scheduling services.
And with your product upgrade, you also boost your brand’s vision by changing your logo and other branding guidelines. Your rebranding efforts will need to align with the needs of your audience and your product changes for you to be able to adapt to an ever-shifting market.
3. You Want to Appeal to a New Demographic
The marketplace, in general, is evolving and your audience may have different tastes now than what they originally desired.
For example: You are a CMO for a publishing house that carries adult thrillers and suspense titles. While you do have a steady audience for this specific genre, you’ve noticed that young adults, between the ages of 18-25, are buying your titles but are not exactly pleased with the writing style. In an effort to tap into this market, you encourage agents and editors to look for authors who appeal to young adults through the writing style they enjoy: lyrical yet straightforward, touching on issues that matter to them and finding plot twist after plot twist, as well as jaw-dropping, Instagram-worthy book cover designs.
Take the time to research on your new demographic’s likes, dislikes and pain points to ensure both company growth and a loyal fanbase.
Is your business in need of rebranding? If you are tired of your initial branding and want something fresh and innovative, you can hire Seamer Design, a creative branding solutions company in Ballarat and Docklands, Victoria. We provide branding services from brand activations to web design, to suit our clients’ needs and requirements. Book an appointment with us on our website.