COVID-19 shook up industries in ways that were unexpected, causing businesses to rethink how they ran their day-to-day operations. During the unexpected downtime that followed, many companies used the time to stay nimble, rethinking elements of their brands, messaging or marketing strategies.
It’s likely that the new year will see a slew of rebrands, as companies try to adapt to a future where people don’t shop, work or play in the same ways they did before. But rebranding isn’t something that should be taken lightly. In today’s world, consumers take more notice of rebrands than ever before and they’re more invested in the brands they follow.
Should You Rebrand?
How do you know when the time is right for a rebrand? One way is to partner with a marketing agency that can help you determine the best option for your business by completing a competitive analysis of your industry. Below, we delve into a few other signs that it may be time for an update.
- You want to stand out in a crowded market. A rebrand can help generate new attention for your business, or help you get a second look from clients you’ve worked with in the past. By putting your brand in the spotlight, you can generate interest and give your sales team a great conversation starter when they contact leads.
- Your audience has changed. Is your brand still speaking to its intended audience?If not, or if your target audience has changed substantially, it may be time for a new look and feel. But tread carefully; your customers won’t be afraid to speak up if they don’t like your redesign. Especially if you are trying to expand your audience, you’ll want to ensure you don’t alienate your existing customers.
- Your business has changed. If you’ve significantly changed the type or breadth of services you offer, a new brand identity can help capture these important updates to your business. Consider whether your current branding accurately communicates what your company does and whether it gives the impression you want.
- You want to communicate a change in vision or values. In today’s world, consumers care more about the social policies of the brands they buy from, and they want to do business with those that reflect their own values. A change in branding can reflect your company’s commitment to these values or help drive the company culture forward.
Remember: A good rebrand isn’t just a visual makeover. It’s a careful process that can help your company refocus on its goals or mission. It provides your business with a clear and unmistakable identity, and we’re the team that can help you get it done. Reach out to us to get started.