New Year, New Business: Here's When You Should Rebrand

Is rebranding the right move for your business? In this blog, we discuss instances where you should and should not consider this approach.

Fill in the alt text

The customer experience is crucial to your business’s success. As a business owner, you work hard to ensure that experiences with your business are positive, but did you know that the customer experience involves more than just direct interaction?

So, how does this other form of the customer experience look? That’s where we come in! Rebranding can impact the way customers view and interact with your business, and we’re here to walk you through it.

We know this topic can be overwhelming, so stick with us and we will tell you when to it’s time to rebrand – and when it’s not!

But first, let’s brush up on the basics.

The Basics of Branding

We’ve walked you through the value of properly branding your business before, so let’s go over a brief refresher.

Your brand is the core of how you communicate your value.

A logo, slogan and font are the building blocks for recognition, but there are many more pieces that go into the branding puzzle. A website, printed materials, emails and advertisements all have a similar impact on your brand.

Each of these elements contributes to your customers’ experience. They then have the ability to create a vision of the company to customer connection without direct one-on-one interaction.

Now that you’re refreshed on the basics, let’s discuss exactly when your business is ready (or not) for a brand revamp!

To Rebrand or Not to Rebrand

Rebranding is a huge task that can carry a hefty price tag – anywhere from $15,000-$60,000. But there are many variables that go into pricing. Some include the size of your website, the number of deliverables and the experience of the team you are hiring.

If you have a mid-size business, then this price range can increase!

Sound overwhelming? We know and that’s why we’re here to help.

So, let’s start by going over when not to rebrand.

Don’t Rebrand When Sales Have Been Slow

While sales are necessary for your business’s success, rebranding is a temporary fix at best.

In this case, rebranding might create short-lived buzz, but it won’t work long term. Modernized design is not an alternative to market research.

In fact, a rebrand might lose the only customer recognition you currently have. Worse yet, without the sales to back it up, you might lose your profits even further.

Instead, regroup and reinvest your time to create a new marketing strategy.

If you are looking for help in establishing a new marketing strategy, head over to this blog.

Don’t Rebrand To Overcome a Poor Reputation

A negative reputation is difficult to overcome, but rebranding is not the best way to fix that.

Though McDonald’s and Facebook found success in rebranding to offset bad press, it can be a risky move. Customers will see past a fancy rebrand if you don’t address their concerns.

This is especially true as customer values continue to change. If you are looking to learn more about these updated customer values, click here.

Regardless of your strategy, do not use rebranding to fix deeper problems. Regaining trust and value is key. Try sharing positive testimonials, rewarding loyal customers or making a simple apology instead.

Now, let’s move on to the reasons you should rebrand.

Do Rebrand When Your Business Has Evolved

Let's say you have a new mission statement, product or service. That's great!

However, making these big changes could affect the way people perceive your brand.

Brand perception affects your bottom line. That's why you need customers to see the most authentic version of your company.

If your current branding does not reflect your business because of recent updates, you are ready for a rebrand!

Do Rebrand When You Are Targeting a New Audience

Connecting with the customers and audience that will use your product or service is essential. That is your target market!

As soon as that target market evolves, so should your brand. You will not profit from expansion if you are unable to attract the correct audience.

So, don’t get stuck in your old ways. A new audience means having a new brand representation.

For example, geographic expansion guarantees you will have new customers with new needs and naturally, you will need to rebrand to target those customers.

Updating your brand helps your target market believe you can meet their personalized needs.

Do Rebrand If You Look the Same as the Competition

First impressions are a big part of branding. But you can't make a lasting impression if your design looks the same as your competitors.

This is especially true if, on the surface, your brand is very similar or offers similar products to other businesses. In this instance, rebranding will give you the advantage of being eye-catching, differentiating you visually to show value and individuality.

Rebranding in this case will make it easier for your customers to choose you over the competition.

Do Rebrand If Your Brand Is Not Cohesive

It is common for new companies to overlook branding. We get it! Starting and running a business brings endless needs and challenges. So, in comparison, branding seems low priority.

Moving forward, your business needs to maintain a single narrative across all deliverables. That makes it easier for customers to decide to do business with you.

Rebranding is an effective fix for a complicated message.

Do Rebrand When Your Design Is Outdated

First, let’s break down the difference between old and outdated.

Coca-Cola is a great example. Its logo has hardly changed since the 1940s. It’s old, yet it is a classic logo that has maintained its brand recognition for decades.

An outdated logo has the opposite effect. It fails to maintain its impact because it’s focused on keeping up with trends.

Trends do not equate to timelessness, and you never want your business to be out of style!

If your current design is past its expiration date, it’s time to rebrand and to get reading our blog that outlines the elements of successful (and not so successful) design.

Final Thoughts

With a new year comes new hope and maybe, in the case of your business, new branding!

Making sales and maintaining consumer interest is all about portraying value. But how can customers see that value if you are still using an outdated logo or a cluttered business card?

We know rebranding is costly and time-consuming, so taking the plunge is a big decision. That’s why it’s crucial to make sure you’re concentrating your efforts where it matters.

But make sure you are rebranding for the right reasons by taking our tips from this blog and applying them to your business.

Join the Club

Subscribe to our email list to get the latest digital marketing content delivered to your inbox each week!