April 3, 2018 • digitalmedia • Branding • Comments Off on Signs It is Time to Rebrand Your Business
There’s a sense in which rebranding is all about small details. You reconsider dozens, hundreds of marketing details: colors, lines, wording, tone, tweets versus snaps. And then there’s a sense in which rebranding is a grand gesture: no matter how subtle the final details, a successful rebrand takes a great deal of savvy, foresight, and hard work, and announces to the world a new genesis for your company. So how do you know when it’s time to make that leap and rebrand, and when to stay the course? There are five points in your company’s life that signal the need to rebrand your business.
What you’re doing works. Your organization’s growth has now “overflowed its banks,” so to speak, both in sales and maturity as a business. It’s now time to ask yourself whether the branding you began with still holds water. Even if you may think initially that it does, check below the surface. Growth in your initial target areas has also almost certainly brought on expanded capabilities or even whole new areas of expertise. In what ways have they changed the direction of your company, even subtly? Your staff, also, has likely changed to some extent, which could also affect your identity, especially if the change reflects a generational shift.
Finally, as your personnel, size, and level and areas of expertise morph and grow, your customer base and target audience may also change. You might undergo a complete demographic change (i.e., trade one target demographic for another) or increase your current audience. To either intentionally shift a demographic or reflect an existing shift, it’s a good idea to rebrand your business.
There comes a point at which your business, no matter how successful in other respects, needs to change with the times or with a rapidly changing market. You do not want to get behind. Looking dated or giving off even a whiff of irrelevance can even mean a death knoll in certain industries, and it will hamstring your progress in any industry if you are not willing to adjust, learn, and stay ahead of the curve.
Rebranding your business may also mean evolving your personality. You may want, for example, to show a more friendly, human face. You may want to emphasize your business’s built legacy. Or you may want to add an aspect of informality or customer rapport to your image. Besides signaling that you’re open to change, you’re showing that remaining fresh and relevant is a priority.
Losing the forest for the trees? You need to reorient your original mission if that focus has slipped into spinning wheels. Or, if your business is doing more than it did five years ago, you may need to expand your original mission, not only to encompass the service you now provide but to continue to draw performance and ambition forward. This is as much for the benefit of you and your staff as for clients and prospects.
This naturally corresponds with a rebrand. Your vision statement should always be like a sweater a child receives at Christmas that’s perfect in all other respects, but just a little too big. Your mission should be one you can live in comfortably, yet say, “We’re going to grow into this.” If that mission has gotten muddled, or you’ve outgrown it, or gone in a slightly different direction (a direction that feels right and has intentionality, not a mindless “drift”), it’s time to rebrand. This outwardly signals and inwardly reminds of that change, as well as continues to drive it.
With social media sharing and consumer savvy at an all-time high, it’s hard for a business these days to get away with much. Part of that change is good. Public accountability can guide markets into regular, healthy self-examination and greater transparency. However, moral failure is one thing, and mistakes are another, but either can land a company in a publicity hole hard to dig out of. Even if leadership changes, the business cleans house, or other positive changes are made, recovering from a setback is tough. This is where rebranding saves business. A bad reputation might be partly about the facts, but deep down, it’s about emotional associations, which run deeper than rational thought. Once your brand has a negative or even neutral association in the consumer mind, that brand needs to change, pronto, to reclaim your place and reboot consumer imaginations.
Your brand might be healthy, hip and flourishing, but what if your product or service is no longer reaching your audience? Loss of interest in your services will pull a good brand down with it. Sometimes “rebranding” means leaving the logo, name, rhetoric, social media strategy, and other branding elements essentially alone, and keeping brand on course by boosting your performance elsewhere. Your image might be doing great, but it’s a main service or product — part of the inner character of your company — that needs to transform and relaunch.
Keeping products and services on target supports your brand because brand and product have a reciprocal relationship. A brand’s image attracts, and the product fulfills the “promise” the brand makes. A track record of positive fulfillment then builds your brand. By keeping all your services at their top and most relevant level, you keep your brand relevant and true to its word.
In the final analysis, rebranding will be an essential part of every business’s life. Markets do not stay the same. Your organization does not stay the same. The key will be to discern not if, but when it is time to rebrand.
And when it’s time to partner with someone through that process, get in touch with Fontis Solutions. For years we’ve offered companies like yours the ability to change tack by combining comprehensive marketing strategy with supremely simplified solutions.
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