Well, rebranding is neither inexpensive nor easy. A lot of time and money get spent for the desired result. Too many aspects to think about with all the ongoing business functions can be overwhelming!
Several factors have to be integrated into a successful brand building: colors, typography, logo, illustrations, icons, values, mission statement, voice…and the list goes on. The thought of changing of all these needs a serious thought. Impact on the factors attached with it have to be carefully considered to make sure you’re the evolved brand is as much or even more successful.
A constant change in the brand elements is not a good idea. Because the essence of branding lies in the consistency. So if you are planning to re-brand, finish it altogether at once.
But how to determine whether or not to rebrand? Let’s go through some of the reasons why you should consider it.
When you observe a shift in target audience
Your business will grow and evolve with time. Thus, your goals would change since you first started. If you are adding more products to your portfolio or expanding your horizons geographically, you need to rebrand. Obviously, it depends on the degree of change that the business is going through but any drastic shift that brings a change in your target audience, you need to re-brand.
As you get more experience in your niche, you might need to adapt and define further your target audience. If you find that your followers have now changed, it means that your branding should too.
When your brand grows
An effective branding effort takes care of your business image for quite a long time considering the product life cycle. But sometimes your brand grows even faster than you thought and this is definitely the best case scenario. Maybe a logo that worked before now needs to stand out more, or your mission statement has developed into something bigger.
While on the other hand, if your brand has been stagnant for a long time, a little stir up in branding may bring back the spark. Rebranding often attracts more heads than a new start-up venture. Following newer design trend can uplift your visual brand elements to a higher level. So does your brand need a makeover?
When there is no connection left
Maybe the crowd is no more excited about the brand. You do not receive as many comments as before or your analytics graph falls, this might have to do with the fact that your audience is not connecting with your brand anymore and it’s time to change it around.
The case also can be the other way around. How do you feel when you look at your website, your logo, that mood board that reflects your brand style? Does it still make you feel excited? Does it represent your values and mission statement? Dull? Not connected to your brand? It’s time to revamp it!
There’s nothing wrong with looking at what other brands are doing out there. Analysing competitors is a healthy practice. But when you start getting influenced by a competitor’s brand, Start thinking about changing your own.
Need more help deciding? Feel free to arrange for a free consultation on the topic.