Should You Rebrand Your Business? Here’s What To Consider
Rebranding is a big decision that can inject life back into your business, not to mention bring about new opportunities. But a company rebrand is something that you shouldn’t take lightly.
While to you, this decision might seem as simple as changing your logo or website, rebranding goes a lot deeper than this, potentially changing how your business presents itself to the world.
This article will help you decide whether or not rebranding is the right move for you, with reasons to consider a rebrand and considerations to make before you take the plunge.
Why Rebrand?
It’s normal for a business to change and evolve as it grows. Whether you’ve learned how to better appeal to your customers, added new services, entered a new market, or you simply want to abandon poorer branding from when you first started out, rebranding can help you portray your business in a fresh light.
A rebrand might also help you stay ahead in a crowded industry by giving your business a modern or more recognizable identity.
Things to Consider Before You Rebrand
Before you start rebranding, it’s worth thinking about your goals. What do you want to achieve from a rebrand? Are you wanting to attract a new audience or differentiate yourself from competitors? Or do you want to reflect changes in your business model?
Knowing the “why” behind the rebrand will help you make smart decisions and avoid making changes that will confuse your existing customers.
You also want to consider how deep the rebrand will go. You might want to do a full overhaul of your logo, name, color scheme, and messaging, or you might prefer to change just a few key elements.
You don’t have to go as big as possible—a smaller update can be just as impactful and is lower risk, reducing the likelihood of losing equity you’ve built with your current audience.
Finally, consider your budget. Rebranding can be expensive, especially if you’re planning to invest in new marketing materials or a website redesign. You may also want to factor in the cost of professional services; for example, you might choose to hire a designer or marketing consultant to make sure your planned changes align with your vision.
Make sure to have a clear idea of exactly what you want your rebranding to look like. Aside from your logo and color scheme, does it make sense to change anything else? Small things like custom labeling solutions can make a big impact when you’re presenting your new brand. They make it easy for you to tell customers that you’ve paid attention to every detail in your rebranding efforts.
Making the Right Choice
Rebranding might be the makes-sense next step for your business, but it’s not without its risks. Your existing customers might not respond to the changes. That’s why it’s best not to go too drastic with the changes, as you still want to appeal to your loyal customers and keep them feeling connected to the brand they know.
Don’t go into a rebrand in a hurry. You’ll need to plan and research carefully, and clearly outline your goals. If you’re not sure which direction to take, talking to your customers can help. Gathering feedback will help you to see your current brand through your customers’ eyes and plan strategically based on the changes they’d like to see.
Photo by Patrik Michalicka on Unsplash
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