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Rebranding is a journey that any successful business will take at least once. Just like people, businesses tend to change and adapt as they grow. And similar to the fact that you’re not wearing butterfly clips in your hair right now (or at least I hope not), the look and style of your business will likely require a style change.
Knowing when to rebrand is the trick. You don’t want to be that business owner that changes their website and logo every year or two. Inconsistent branding can be perceived as an inconsistent or indecisive business. If you’ve hired a talented designer, any branding or rebranding project should last the test of time (5 years or more), with some possible refining and refreshing.
It can be difficult to know if and when you should spend your hard earned money on rebranding. How can you know if it’s really time to rebrand? Is there a way to ensure that your rebrand will be successful? How can you measure your ROI on your branding work? Let’s explore.
First, it’s important to define what a rebrand entails. A rebrand is not simply redesigning your logo or changing your main color from peach to paris blue. Branding encapsulates who you are, who you serve, your place in the market, how you communicate, your pricing, your marketing strategy, and your brand visuals (logos, submarks, etc).
Now that we are on the same page of what your branding encompasses, let’s dive into the 3 main ways to know if it’s time for a rebrand.
The most important indicator for a rebrand is when you’re not attracting the right customer. If you consistently receive inquiries from those that are not a good culture fit, whose budget doesn’t match your offerings, or who don’t value your expertise, then it’s time for a rebrand.
As mentioned above, a rebrand will help you take a bird’s eye view of your business and navigate what needs to change. By defining or redefining things like who your target clients are and what they need from you, you’ll be able to understand how to appeal to and connect with them.
If you’ve changed a key part of your business – say, your main offering or your top goals, it may be time to rebrand.
Perhaps you’ve come up with a new product idea that doesn’t necessarily align with your original brand strategy. Or maybe you’ve come to realize that your original business idea isn’t executing the way you intended, and are ready to take a different, more successful approach.
Changing the direction in your business plan will lead to many changes down the road – choosing to invest your time now and think everything through will save you some heavy, complicated headaches down the road.
Your current logo and branding may not reflect the direction you plan on going, and this dissonance between your branding and your business strategy will leave your customers confused and unimpressed. Unify your approach with branding that compliments your business plan and gets your customers excited and engaged.
The last thing you want is for your prospective customers to view your company as out-of-touch or outdated. Make the effort to keep your brand current and relevant. Opportunity favors the prepared, so be ready to wow your customers the moment they come in contact with you.
Even the big brands have gone through significant rebrands to stay top-of-mind. Take a look at Airbnb’s brand transformation. As you can see, the first logo has a completely different feel from their current logo, and therefore would likely attract a different class of customer. Which logo would you be most likely to buy from?
Consumers want to engage with a company that resonates with them and evokes emotion and excitement. They’ll pay a premium to work with a company that they feel really understands and values them. On the other hand, having a forgettable brand can result in customers price shopping, or failing to connect with you at all. If you feel that your branding isn’t up to date or that it’s becoming forgettable, it’s time to rebrand and give your audience something to be excited about.
So, what’s the verdict? Is it time for your business to rebrand? If you’re still a little unclear, check out this post on 5 Questions to Ask Before Rebranding.
If you’re ready to rebrand and need a designer to help guide you through the process, reach out today and let’s get started. Join over 75 business owners who have proudly and successfully rebranded with Katie & Co.!
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