Your company's branding should be a reflection of the values and philosophies that hold your organization together. As such, the voice that is spread across all of your marketing messages should be clear, consistent and relevant. Over time, that voice can grow a bit stale and you may need to consider a rebrand. The following four signs are particularly good indicators that it is time to work on rebranding your organization:
1. You Have New Competition
The human mind is wired to be excited and tempted by new things. The desire to try a new product or service can lead your target audience away from your business - even if you are better than the competition. If you are losing business to new players in the market, you may want to consider rebranding. You can do something as simple as freshening up your message or as extreme as changing your company name and brand identity.
2. You Want to Target a New Demographic
Your brand may have reached a saturation point with its current target market. If so, the only way to keep growing is by reaching out to a new demographic. Unfortunately, the branding that brought in your old target market may not be as effective on your new audience. If you don't think your current message is suitable for your new demographic, it is time for a rebrand.
3. You Have a New Mission
Over the course of its lifetime, your business may choose to pursue a new mission or a new set of values - and give up the old ones. For instance, your company may change from being a supplier of dairy products to being a supplier of organic vegan foods. Any major change such as this must coincide with a change in the brand as well. You could start by utilizing more eco-friendly packaging and eventually begin using a similarly eco-friendly voice across all of your marketing collateral. Put simply, your rebranding effort needs to clearly communicate and reflect the transformation of your company’s mission and values.
4. Your Brand Is Out of Date
The colors and logo that once seemed cool and trendy can quickly grow old. Design trends and tastes are changing faster than ever, so if your company's marketing collateral looks like it was produced 20 years ago, it is definitely time for a change. If you find yourself in this situation, generally speaking, you won't need to change your company's voice - just your colors and graphics.
Having the right branding is important for the ongoing success of your company. By reflecting on the changes you are seeing within your industry and company, you can ensure that your branding is always fresh, relevant, and up to date.