Is it Time to Rebrand? 5 Reasons Your Business Might Need a Fresh Start
Rebranding your business is a huge undertaking, something we know very well here at One Agency. If done right, a successful rebrand can give your business a fresh start, boosting its appeal in your marketplace and pushing it to new heights with new and existing customers alike.
The flipside of that coin is the very real consequences of getting a rebrand wrong. This can result in a multitude of downsides from embarrassment and bad PR to the worst possible result – lost custom.
One of the main reasons brands sometimes get this delicate process all wrong is due to motivation. Businesses can be tempted into rebranding for entirely unnecessary reasons, leading to an overhaul at a time when consistency in the current branding and other areas of the business should be the focus.
How do you know when the time has come to rebrand your business? Here we will go into some detail on the tell-tale signs that your brand is in dire need of hitting the reset button, as well as a few that suggest you should stick with what you’ve got.
When is it time?
- The Industry has changed
If your industry is changing quickly, as so many do, then a rebrand could be an effective way of moving with the times and ensuring your business remains relevant. Getting left behind is not an option.
Take our own story for example. We operate in the advertising and marketing space, which is always shifting at a rapid rate. Our new branding has kept our look up to date and enables us to keep pace with the significant competition in a packed industry.
- You have changed
The industry you operate in isn’t the only thing that might change. Your own business, its core offerings and strategy, are also susceptible to continued transformation. Your products and services, and the way you deliver them, can change for many reasons. They can be practical, financial, industry-led or (most optimistically) a result of growth. Regardless of why your business model changes, it is important to change your branding to fit your new way of working.
Once again, our own rebranding journey is an apt comparison. Our services have become more connected than ever, so our branding has evolved to match.
- The audience has changed
Even if your business and the industry it inhabits stay largely the same, audiences and their habits are always in flux. As demographics and buying habits change, your business must be prepared to switch footing and secure its continued success.
Whilst adapting to your newly defined audience, it may be necessary to switch things up with a full or partial rebrand that better targets and attracts your desired customers or clients.
- You have outgrown your brand
As mentioned above, your business can change over time and make your branding outdated and irrelevant as a result. For some businesses, this means outgrowing their brand entirely – having become a completely different business or offering over time.
This is perhaps the most obvious and pressing sign of a rebrand being needed. Suffice it to say, if your business started as a car wash and became a garage, a rethink might be on the cards.
- Identity crisis
You might be surprised at the number of established businesses that struggle to effectively pin down their brand identity from the get-go, before settling and leaving this issue unresolved.
As the mammoth task of rebranding shows, devising and creating this identity takes a lot of time and effort, so it’s no wonder some businesses only put in half the work before landing on something underdeveloped or subpar. This can leave a brand in limbo for years, never really establishing itself and imposing a brand identity on its industry.
If this sounds like you, then a rebrand is not just recommended, it’s essential to the survival and future success of the business.
When is it not time?
Whilst the above represent red flags indicating the need for fresh branding, there are also tell-tale signs that your desire for such a change might be premature. Diving into a project as all-encompassing as a rebrand for the wrong reasons can be just as destructive to your business as not doing one – if not more so. Ignoring these can lead to half-baked ideas being pushed forward, important work being rushed, and money being wasted.
The old adage of “if it ain’t broke, don’t fix it” has never been more pertinent. Let’s dive into some of the common reasons people often think they should rebrand, when in reality they should be avoiding it…
- Competitor jealousy
It may sound petty, but it does happen. If you see a direct competitor showing off a successful, effective rebrand, then it is perhaps natural to become envious and pine for the same. This is especially understandable given the importance of keeping an eye on our competitors in the field. That being said, simple competitor jealousy is not good enough reason alone to be completely ripping up your established identity. This should only be approached on your own terms, with the right thought and strategy to back it up. If the intention is not pure, then you could end up with a rushed, underdeveloped, or ineffective brand.
Not to be confused with your brand becoming boring, often as a result of the industry changing around you, which is a legitimate reason to rebrand. This refers to the somewhat natural urge to become bored with your current visual identity, often due to the passage of time and a desire for something new. This is no substitute for proof that your brand itself no longer works, nor is it reason enough on its own to burn everything down and start again.
- Unwillingness to address all visual assets
Did we mention that rebranding is a massive undertaking? Well, we’re mentioning it again. If you’re going to start again with a full rebranding project, you need to be committed to overhauling everything and establishing consistency throughout your new identity. That means updating all of your visual assets. If you think you can slap a new logo on and be done with it, think again.
You need to be seriously working on all elements of brand identity – logo, colour scheme, typeface, tone of voice, brand language and many more. These are the services we supply as standard when it comes to full Creative overhauls for our clients, and for good reason.
In short, be sure that you’re rebranding at the right time, for the right reasons, and with the will to do what it takes to forge an amazing new brand identity. Don’t ignore the warning signs of a stale and uninspiring message, but try to ignore the worst impulses that might be calling for a still-effective brand to be destroyed. Get this balance right, and you’ll come out the other side with a stronger business either way. Don’t believe us? Check out our own rebrand story and see the results for yourself.
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