There are numerous reasons why you may be considering a rebrand for your business. A company rebrand is not a simple thing to contemplate and is rife with the potential for damaging the hard work that you have already put into your business growth.
The good news is that a rebrand can be easily achieved by following the advice of those that have already tackled the concept and made it work for them. If your business growth is slowing down, then it may be time to assess whether your business needs a rebrand. If so, how do you take the right steps to ensure its success? Below are the best ways to manage your complete business rebrand.
Assess why you should rebrand
If you’re considering a rebrand, you need first to assess just why that is. If your quarterly figures are showing a decline, it may mean that you simply have to invest more time and energy into marketing. However, there are three main reasons why you may need a rebrand. They are:
- A change in your audience: As a business grows, it often finds that it is reaching a different or wider audience than expected. As your audience evolves, so too should your business, and if you’re finding that your expected audience is not the same as who you’re actually selling to, then it may mean that a rebrand is the way
- Shifting culture: Technological changes, the emergence of fresh competition, or even the simple evolution of trending tastes, can all be good reasons why you need to focus on a rebrand.
- Your own business has changed: Businesses do change over time. As you start to include new products for sale or diversify your output, then your branding needs to be reflective of those changes. If your current branding has fallen behind what your company now does, then it’s time for a rebrand.
Not every business needs a rebrand, but if yours is falling victim to lower sales and any of these three elements are a factor, then it’s time to consider what kind of rebrand you should be considering.
A brand refresh
Often, your business is simply in need of a light refresh, which can simply mean a focus on streamlining your current branding and retargeting your audience. It could mean simple changes, such as logo refreshing or updating the packaging on your products. A brand refresh is less time-consuming and costly than a full rebrand, which is why it should always be what you look at first. The chances are that you don’t need a full rebrand, and simply paring your current branding down to its basics is a productive use of your time. As with any change to your business, ensure that you keep your audience updated and keep them in the loop when it comes to your rebrand.
The total rebrand
If you feel that your business needs a more wide-reaching and high effort brand overhaul, then you’re going to need to put some work in. You will need to plan well and ensure that your rebrand is not just efficient but is also within budget and that you have the resources to cope with the potential disruption. A total rebrand can be expensive, and if your business is in desperate need of a rebrand to keep up with growth, then it may be worth looking at a peer to peer loan which you can pay back in easy installment packages. Remember that a full rebrand will take meticulous planning before you commit to it, and the more prepared you are, the easier the process will be.
Ensure that you have a realistic timeline schedule to follow when it comes to your rebrand, and you’ll be far more likely to see it move forward effectively. Always assess your reasons for a rebrand, and once you have decided to go for it, commit to it 100%.