Nothing is in-style forever, and that’s especially true for brands. Whether it’s grown far larger than it originally planned to, or if it’s failed to stay trendy despite its best efforts, every brand will need a revamp at some point. A rebrand can infuse your marketing efforts with gusto, breathe new life into your company and — if you rebrand in a strategic way — can even give you access to new audiences and attract top industry talent.
The hard part is knowing when it is the right time to rebrand. There isn’t a “one size fits all” approach for knowing when it’s time to, so it’s important to consider the following indicators when deciding whether you are in need of a rebrand. If you find that the following list describes your company, it’s time for you to call a digital marketing agency and make a plan to give your brand-new life.
Your brand vision is no longer reflected by your brand name
Everything goes out of style, even names. What might have been a good name for your brand a decade or two ago may no longer represent your mission or goals. A great example is “Dunkin’ Donuts” rebrand to just “Dunkin’.” As their market focus shifted from only donuts and coffee to other breakfast foods, the company recognized a need to represent their brand in a more accurate way.
You’ve moved from your brand’s original geography
It’s inevitable that a company grows beyond its original audience, or at least has the motivation to. Growth means reaching a larger audience and covering a wider geography to reach that audience. If your brand conveys an attachment to a specific area that doesn’t encompass your entire audience, you must consider the possibility that you are isolating parts of your audience.
You’re unable to distinguish your brand from the competition
Brand recognition is becoming increasingly important for companies in the digital age, so it is very necessary that companies focus on differentiating themselves from their competition. It can often be difficult to do this, especially in niche markets, but it’s important to do, nonetheless. If you feel like your brand is too similar to its competition, shake some things up and make it different in a way that allows your brand to stay true to its mission while standing out from the crowd.
While these aren’t the only indicators that your company needs a rebrand, they are some of the most important indicators to look for. It’s also important to note that a rebrand doesn’t have to be an expensive or super time-intensive undertaking — the key here is to find a digital marketing agency that will do justice to your brand’s mission and goals. Next time you’re considering taking your brand in a new direction, keep these indicators in mind when deciding whether a rebrand is right for you.