It happens to every business – your branding no longer suits your business. It’s not a bad thing, though. In fact, consider it great that you’re aware enough to realize your company needs a change. We know how easy it is to get stuck in the ‘comfort’ of your old branding. It’s familiar, it worked, and you don’t want to change it, but sometimes it’s necessary.
Check out the top ten reasons to think about changing your brand.
- Your Mission Changed
Businesses often start with one mission and evolve through time. Call it growing pains, expanding, or whatever you want, the bottom line is that your mission changed and your branding should change accordingly.
It’s not bad that your mission changed – for many businesses, it’s a sign of growth or it’s a complete change in direction. You learn as you go and sometimes you have to adapt to what the market needs/wants. The key is to keep your branding updated so that your target audience recognizes what you offer and understands it without feeling confused.
- Your Brand Isn’t Straightforward
If your branding is confusing, it can send the wrong message. Do your market research, and find out what others think of your branding. What are their first thoughts when they see your logo or tagline? Do they understand your business or is it unclear? Worse yet, are they getting the wrong message? That can hurt your business.
If you’re staying in the same market and simply want to update your branding to reflect your business better, consider changing its logo or slogan. Change what may be confusing customers but don’t do such a large overhaul that no one recognizes your business any longer.
- Repositioning your Audience
It happens often. You start with one target audience in mind, but as your company grows, you find yourself pivoting and catering to a completely different market. Whether it’s due to your target audience growing (baby boomers for example) or you change audiences completely, your brand needs to adjust with the audience. It’s not a one-size-fits-all approach and pivoting is crucial to marketing success.
- Your Logo is Outdated
Your logo is your personality and what speaks about your brand. It’s easy to fall in love with and get super comfortable with it too, but don’t. Sometimes comfort leaves us unchanged and today’s market thrives on change.
Look at your logo compared to others in the industry. Is it modern enough or does it look ‘old’? Think about how long you’ve had it and how much your business has changed in that time. Does the logo still represent your business or could it use an update? Look at your logo from your customer’s or potential customer’s point of view. Do they see the value your business provides or is it lost in the messaging? If so, it’s time to update.
- You Don’t Differentiate from the Competition
Even if you didn’t copy others – maybe you were the first in the industry, others may have copied you. Once the train started, it didn’t stop. Suddenly consumers can’t differentiate one company from the next. If that sounds like you, it’s time to update.
The last thing you want is to be confused for a competitor or vice versa. Step outside of what you’ve done and see how you can better your branding. How can you stand out so that there’s no question which is your company and which are the competitors? Look at it from a value standpoint. What can you portray that your competitors missed out on and will make you the leader in the industry rather than the follower?
- Your Company Changed
It’s completely normal for businesses to start with one product or service in mind but adapt through the times. In fact, the pandemic has made millions of businesses pivot in ways they never imagined. This may be the very reason you see many businesses rebranding today – they’ve changed their offerings to adapt to the times and their brand must reflect it.
Even if it wasn’t the pandemic that made you change, sometimes companies grow to meet the needs of their consumers. As you see more pain points, you want to find ways to solve them and increase your bottom line. As you do, make sure your branding reflects it otherwise no one will know the effort you put in to provide what your audience needs.
- You Want to Broaden your Audience
Did you have your sights on a larger audience when you started but were too intimated? Maybe you started small to see how it would go, but now you’re ready to bring in a much larger audience and bottom line.
Changing your audience means changing your brand. If you want to appeal to more than a niche group, your branding must reflect it in order to get the attention of those you’re now targeting. You may need a younger, more detailed, or more engaging brand to get the word out.
- Your Brand Goes International
Going international is exciting. You have a whole new target audience and a chance to increase your sales. It’s a great time for expansion, but not all brands and marketing tactics translate well in other countries.
Start by determining what your logo or tagline translates to in the other country’s native language. If it’s offensive, confusing, or doesn’t show what your company is about, you’ll need to rebrand. Some businesses adapt their offerings (especially food companies), but most have to adjust their brand in multiple ways to ensure the brand is understood and welcomed.
- You Have New Management
Sometimes a change in management creates the need to rebrand. New management brings in a fresh approach and sometimes that approach doesn’t mesh well with the current branding. It’s the perfect time to say ‘hey, we’ve realigned and have something new to show you.’ It creates excitement and curiosity, both of which help your bottom line.
- You’re Going Digital
If you haven’t gone digital yet, you’re behind the times, but it’s never too late to start. Even if you had a website but didn’t do much else online, your branding may need a fresher or more adaptable approach.
When your branding is primarily in print and only a few items, it’s easy to stick with the simple and laid-back. In today’s digital world with everything evolving and changing, a more adaptable brand that speaks loud and clear to get the audience’s attention despite the noise all the other sites make is crucial. In short, you need to stand out.
Don’t be shy – make changes and see how they affect your business. Consumers love change – it creates curiosity and makes them want to see what you have in store. Make your rebranding a big deal – let your audience know why you’re doing it and how it benefits them. In the end, it brings about welcome change for everyone, and eventually increasing your bottom line.