When Is the Right Time to Rebrand? [updated]
A couple of years ago we looked at a few things you may want to consider if you are looking for the right time to rebrand. We thought it may be useful to update the article, to expand a little on the information provided as it is a topic that comes up quite a lot in conversations with clients.
Whether you are looking for reasons to rebrand or reasons not to rebrand, we hope that this will provide an informative look at the topic of rebranding to establish when might be the best time for you.
There are 5 main situations where a rebrand may be considered and we have included some questions/statements that you may be able to relate to.
Change of Name
“Our name no longer fits who we are and the business we are in”
“Our name has negative connotations in the new markets we are entering”
“Our name misleads customers”
“No one knows who we are”
“We need to communicate more clearly about who we are”
“Our website doesn’t work on a smartphone”
Brand Identity Revitalization
“We are a great company with cutting-edge products but we look behind the times”
“I am embarrassed when I give out my business card”
“Our identity does not position us where we should be against our competitors”
Creating a Unified System
“We do not present a consistent image to our customers”
“All of our marketing looks like it comes from different companies”
“We lack visual consistency and need a new brand structure to deal with acquisitions”
Merge of Companies
“We want to build on the brand equity of the merging companies”
“We need a new name”
“We need to send a strong message that we are the new industry leader”
If any of these statements sound familiar, then now might be a good time to talk to a branding agency.
Aside from the above statements, below are some other considerations when looking at a possible rebrand or refresh. It is worth noting that it isn’t always necessary to make big changes, but below are some of the times when a refresh or rebrand might be considered.
There is no rule for how long a brand remains current. Branding styles go in and out of fashion, just like clothing but there aren’t many brands that are timeless, like a pair of jeans or a little black dress. Sometimes a complete rebrand isn’t essential, but a refresh of colours, fonts, or a style tweak can work wonders to bring your brand back up-to-date. We have recently completed rebrands for a couple of clients whose branding had remained stagnant for 10 years, so if your branding hasn’t changed in the last decade, it may be something to think about.
- Changing Tastes of Your Customers
Although you maintain your brand, it is your customers that control it, as what they say to each other creates a reputation, which is what your brand becomes known for. Over time, as your customers change, so should your brand. They will expect you to stay relevant and modern to keep their attention and a proactive brand will also attract new customers.
- Change of Focus/Expansion
If you used to do X but now you do X, Y and Z, now might be a good time to look at rebranding. Simply telling your customers you do more might be not enough. You need to show them your new focus by developing your whole brand to show your new vision and values.
- Mergers & Acquisitions
This is an obvious one really, as bringing together two brands results in a big branding overhaul. At the simplest level, it will require an analysis of the two brands’ strategies to see any overlaps or differences and deciding the route forwards. But for the most successful outcome, a new brand will be required to offer one united brand that shows what it can offer to customers.
- Your Name is Ambiguous
If people cannot pronounce your name, or have no idea what you do, then your brand is not working for you.
- Your Geographical Name is Holding You Back
If you started your business with a town or city in the name so that you sounded local and so it would help your SEO, then it probably seemed like a good idea at the time. But if you are ready to expand and the name is holding you back, then it’s time for a rebrand.
- Your Brand is Dull
This is one that many business owners would not admit, but sometimes a rebrand is needed simply because your branding is looking a bit dull, tired and out-dated. Rebranding can give your business a fresh new look that will be appreciated by both old and new customers.
One of the biggest hurdles with branding is that businesses think that it’s an expensive and unnecessary task. But with the right brand styling, you should get back what you spend in increased sales.
There is no right or wrong answer for the question ‘when is the right time to rebrand?’ but if you are looking for individual advice, we are more than happy to have a chat.
As Leicestershire’s leading brand stylists, Hyphen are available for a free one-hour consultation to discuss what’s right for you and your business. Just contact us to arrange a suitable time and date.
Until next time,