Updated: Jun 26
Okay, so you're considering rebranding your business- stop right there and read this first.
MOST IMPORTANTLY, think about why you want to rebrand your biz.
Figuring out why you want to rebrand determines if a rebrand is necessary. (seriously, this means that you need to take the time to sit down and write out a list of reasons why it is you want to rebrand your biz!!)
For instance, if you want to rebrand simply because business has been slow and your sales are low or because awareness for your brand isn’t what you hoped it would be -- you might want to consider other business aspects first, such as your marketing strategy or conducting further research in your market and industry. Also, keep in mind the more established your brand is, the higher the risk and the more you have to lose from rebranding.
Reasons NOT to rebrand:
Because you’re bored and tired of seeing the same logo or colors everyday. Think about it this way... just because you are doesn’t mean that your clients and audience is! There is a reason they follow you -- they like what you have to offer!
Sales are low. You have to remember that this is only temporary! Again, you probably need to rethink other aspects of your business, such as your marketing strategy, social media strategy, etc.,
New management/owners want to make their mark.
Consider the reasons why it is that you want to rebrand your biz and do extensive research in your market before you decide to do so.
Reasons TO rebrand:
Your mission and values no longer align with your business.
Give new life to outdated branding/image of the biz.
Clearer differentiation from competitors.
You have a new target audience and want to reposition in the market.
Your business is expanding. - (sometimes you may expand and enter into international markets where your logo, tagline, etc., will not translate well in another culture)
Mergers or acquisitions.
There are several reasons to rebrand. In fact, failing to evolve your business' brand in today's modern age can be a critical branding mistake that can hurt your business. Therefore, it's important to remain relevant to your audience in your industry but make it make sense for your brand and your business!
If you've (actually) taken the time to take into consideration the reasons why it is you want to rebrand and you're still set on rebranding your biz because your values and mission no longer align, you want to give life to your outdated image, you have a new target audience or for other reasons as mentioned above then we've created a simple, yet effective list of steps for you to follow. (see below)
6 Steps to Rebrand Your Business:
Have a strategy set in place. This sounds obvious, however unfortunately, common sense isn't so common. Therefore, it must be said- first and foremost, have your rebranding strategy set in place before anything else. Just as with anything else, you don't want to jump in blind. Do your research, understand the reasoning for rebranding and the effort that it is going to take to do so.
Understand your mission, vision and values. Before anything else, it is so important that you fully understand your company's mission, vision and values. This is the core foundation of your company which w