Your business is very important to you. You have created it, and you’ve put a lot of hours into it. But it may be time for you to rebrand your company. Below are four signs that it may be time for your company to be rebranded.
You Have an Obsolete Image
One reason why you might want to rebrand is because you have an obsolete image. There are quick changes in design trends, and when you have had a business for 1 to 2 decades, the colors, shapes and fonts that were cool when you created your image are unlikely to be trendy now.
You have a New Demographic You’re Targeting
You want to make sure that you’re reaching out to the people you’re targeting. If you want to target teenagers rather than adults, you’ll have to change your brand to reflect and appeal to the new audience.
You Have New Values or a New Mission
Your values and mission should be the way that your brand’s developing. If you have changed the company’s mission or your values, you may need a rebrand of the company.
You’re Going Through an Acquisition or Merger
Acquisitions and mergers always should be viewed as a time to rebrand. It’s essential to view how the acquisition or merger will fit into your parent company’s architecture.
These are some of the reasons why you might want to rebrand your business. Now that you know some signs that it’s time for a rebrand, it’s important that you know that there are some of the challenges that you’ll come up against.
Overcoming Previous Perspectives – One of the things that you’ll have to overcome is the previous perspectives of your business. A good way to deal with this is to use some of the elements of your previous brand in your new brand.
Fighting Stakeholder Resistance to Rebranding – If you have stakeholders in your company, they may not like the idea of your company’s rebranding. If you don’t handle this correctly, the stakeholders might encourage others to also resist the change. It’s important that you are being open and communicating with your stakeholders and letting them know the reason for your rebranding.
Opinions of Employees – Another group who might resist the rebranding are the employees. They’ve been really used to the old way that they may find the switch to be difficult. It’s similar to when the new year starts – it’s hard to stop using the old year. This can be overcome by making sure your employees are involved early in the process. This way they don’t feel as if it’s coming out of left field.
Is it time to rebrand your company? It is a difficult decision, but it also can be necessary to keep your business alive, and you know that there are challenges ahead. But it can also be very profitable and a good move for your business. If you are ready to rebrand your business, contact us. We’ll be glad to help you create a brand that you can be proud of.