10 reasons you need to rebrand

Rebranding is the process of giving a makeover to the image of a product or company that is already established. It’s about revitalizing the brand by changing its identity i.e. name, logo, vision, mission, slogan, target audience, and market. Usually, this is done to stay current or relevant in the market, set you apart from the competition, attract new audiences, and also bring about brand awareness.

When you are talking about rebranding, knowing the when’s and how’s of rebranding is crucial. Here are some indicators that will show that it’s time for a rebrand.

1. Outdated Branding

If your brand aesthetics and image represents old ideas and market and doesn’t appeal to the current market then it’s time to rebrand. This could include an overhaul right from brand visuals to updating the product line and marketing strategies.

2. Getting lost in the Crowd

If your brand is looking similar to other brands and getting lost in the crowd then it’s time to rebrand. Find that sweet spot where your brand has a unique position in the market. If you don’t have key differentiators then it’s clear it’s time for rebranding.‍

3. The brand is losing Relevance

The market is an ever-changing place. If your brand is one that caters to a yesteryear’s audience then most likely your brand is losing relevance to today’s time. Your brand needs to revise all the touchpoints to become up-to-date and appeal to the newer generations.

‍4. Change in Product/Services

As technology advances, there are always opportunities to make better and newer products/services which will cater to the ever-changing market. Change in products calls for a rebrand and a strong brand strategy to show the audience your new material.

5. Well-defined Target Audience

A clear definition of the target audience is required to know what the people want vs what you can provide. You need to learn about various aspects like cultural habits, location, seasonal preferences, likes, dislikes, etc to provide better business.

6 .Your business goes Global

Success allows expansion, whatever the industry. This could mean going global. Your target audience becomes more diverse. Here you need to rebrand when you cater to a global audience and your brand identity needs to be revised accordingly. All your branding touchpoints need to be sensitive to the different cultures.

7. Mergers

Usually when you welcome new leadership/partnership you go for a rebrand. But this kind of rebranding needs to be done very carefully. Ultimately your target audience needs to be kept in mind for the purpose of rebranding. If the sales charts look good and the company is doing well then rebranding should be about making the change visible to the people and about legalities, not about pleasing egos of new management.

8. Company Reputation

If your company’s reputation has been tarnished. Scandals, bad press, products and services not good, information leakages etc can bring your brand’s reputation down. If this has happened then a rebrand is a good idea to help the people refresh your brand’s perception.

9. Acquisition of Other Brands

Sometimes big organizations acquire smaller brands and add to their ever growing brand portfolio and if your current brand identity is not clear to the customers then you need to go in for rebranding.

10. Change in Company Mission

Many companies usually begin small. Hence their values and reasons for their businesses are also simpler and unidirectional. When they start growing over time and take on bigger markets, build new products and have diverse customer bases; their original mission could get outdated with regards to their growth. At this time it’s advisable to go into rebranding.

Ultimately if you’re considering rebranding, remember to do it purposefully. You have to comb through every aspect of your brand methodically and strategically. Keep your customers in mind while rebranding.