As a business owner, I'm sure you know the importance of your brand. Brand recognition is one of the most powerful marketing tools available and can be the life blood of your company. From time to time, it may be necessary to rework your brand in order to breathe new life into your business. You may be considering giving your brand an overhaul but aren't sure it is right for you. How can you be sure? Below are some tips to help you decide if it's the right time for rebranding your company.
Graphic Designers – Your Best Choice for Rebranding
Before you make a decision to rebrand, there are a couple of points to consider. First, does your company have a specific problem that may be solved by rebranding? Perhaps your brand equity is becoming stagnant or is deteriorating. Maybe you are simply ready for an identity overhaul. If so, rebranding may be right for you.
Other reasons to complete a rebranding at this time may include a tarnished business reputation, a need to keep up with changes in your target market, or evidence that customers don't seem to favour your brand at the level they once did. Your company is ripe for rebranding if you have recently completed a reorganisation, merger, or acquisition and wish your brand to reflect your growth. Maybe you just want to update your brand's look to be more aesthetically pleasing in the modern advertising environment. If your company is facing any of these issues, it may be time to consult with a design studio to discuss your rebranding options.
Rebranding can be costly but you have the potential to offset the cost if your business is rebranded effectively. Successful rebranding consists of much more than a new letterhead design or a change in your logo colours. Any visual branding changes made must represent your company's personality. What do you want to be known for as a business? How can you communicate that through your branding? It is important to get every employee involved and excited about the new image, new branding and why it is important. A qualified graphic designer can guide you through the process of a successful rebranding.
To Rebrand or Not To Rebrand?
Just as there are reasons why you should rebrand, there are situations in which you may choose not to do so. Rebranding just because it has been a long time since you updated and you would like to try something new is a really bad idea. If your business is currently successful, many of your customers are accustomed to your current brand and feel a sense of loyalty to it. For this reason, rebranding may cause a loss of some of your current customer base. If you have a large number of devoted, loyal customers, you need to be careful how you transition them to the new branding. Often times, when businesses assess their situation they choose to stick with what is already working.
Why fix something that isn't broken?
Take a thorough inventory of the value of your current brand and compare that with any possible promotional benefits of rebranding. Will the benefits cover the costs you will incur through rebranding? If not, it may be better to slightly tweak the way you promote your business rather than go through a complete branding process.