5 Signs Your Business Should Re-brand

Is your business considering a re-brand?  Or perhaps a brand re-fresh?  Then read on…

During 20 years in the marketing arena I have been through 4 corporate re-brands and as a freelancer I have assisted many companies during the exciting time of transition and development.  Believe me, it is exciting!

Rebranding

Questions to ask yourself prior to your re-brand:

  • Why do you want to re-brand?
  • Do you want to re-fresh your brand or have a complete new look?
  • What are the changes leading you to the decision of a re-brand?
  • Have you carried out a brand audit to evaluate how much this will cost your business?
  • Have you carried out market research?
  • A competitor analysis will help you position your brand in the market, who are the leaders?

 So, when should your businesses consider a re-brand?

  1. A milestone

Perhaps your company has reached a significant birthday! A firm I am currently working with is marking its 10 year milestone with an ‘up-grade’ putting a stamp on this milestone with a brand new, contemporary digital look and feel.  Not just their logo, but their website, banners and marketing materials.  What a celebration!

  1. DifferentiationAnsoff Matrix for brand Differentiation

Perhaps you have taken a look at competitors in the market and decided your brand just isn’t making the impact it should be.  If this is the case, you can inject new life and stamp your personality through your branding.  The whole re-brand exercise really makes you look at your differentiators and can re-focus your ambitions.  If you want to really understand brand differentiation – I would recommend you consider the Ansoff Matrix   by Smart Insights

  1. Company acquisition or merger

Maybe your firm has recently acquired a new arm to the business or is about to.  Due to a different or broader offering, you will need to consider the management of your brand.  With this in mind, it’s a perfect time to do some market research (internal and external) to work out exactly how to manage expectations and pull together some strong brand guidelines on brand management.

  1. Looking contemporary and advancing with times

Do you feel your brand is outdated?  If you feel it is, then your customers certainly do! Employ a specialist whether it’s a designer or marketing agency, invest time in thinking about how you can position your brand above the competition.  Research can stretch from competitor analysis, to focus groups with your clients through to visual surveys in the public domain.  With this behind you, you will feel confident your new brand is looking hot to trot!

  1. Diversifying your product or service

As a company expands, grows and moves with the times, over the years your product or service portfolio may have diversified.  During this period often business owners start to feel their brand isn’t representational any more.  This is a key time to reflect and brainstorm ideas for a new brand or indeed create a confident brand umbrella.

One or two of these key times may reflect experiences you have gone through or are experiencing right now! I hope that a few hints and tips here have given some food for thought, I will expand on market research and why/ how you should do this during your re-brand process in my next blog.

If you have any questions or thoughts to add to my blog please do so in the comments box below!  I’d love to hear from you and always happy to chat ideas through.

5 Signs Your Business Should Re-brand
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