Your Business Needs Rebranding If…
When was the last time you took a good look at your company’s branding? No, I don’t mean just your company’s logo. Branding is way more than just design and corporate visual identities. Branding to a large extent is about the experience your audience has when they interact with you, in addition to the identity elements like your logo, colors, etc. When last did you ask yourself the tough questions, which includes whether your branding aligns properly with your position within the market or if it continues to be relevant to your audience. Perhaps it’s eventually turned out to be old, however whatever level your company, making the choice to embark on rebranding must be considered when your business’ branding elements starts doing more harm than good.
As you may already know, there’s a ton of data available on how or when to rebrand, and CEOs, CMOs and Marketing managers know the cost for creating an up to date brand can fade in comparison to the cost of implementation. Other than the cost implications, a rebranding effort must be looked at as more than only a new logo or color scheme, which are important factors. In truth, rebranding is a way to reenergize an agency in a manner which can help influence all brand activities from sales to operations, down to brand culture. Internally, it is able to affect hiring and recruiting and externally, it can affect the way a company is perceived by current and prospective customers.
A rebranding attempt is, in reality, an investment that makes a brand stronger by engaging employees and customers in more significant ways. This, in turn, results in greater profit and sustainability.
If you’ve entertained the idea of gauging the reputation of your brand and its effect on your bottom line, bear in mind the following:
Is your logo design still relevant?
This has to do with if it’s still relevant today since it was designed some 10 years or so ago. As expected, your brand, product, and services have modified and so have your markets. Logo equity is critical but as brands evolve, so also should fonts and color schemes.
Does your branding align with what you are serving?
If your business once targeted a select product class but is no longer serving that marketplace, will it truly align with the new services?
Are you looking to grow your brand coverage?
As important as it is for you to have a brand that supports your function and position in the marketplace, it is also important to permit room for growth. If you once served markets inside Africa and however now want to offer merchandise across multiple continents, will your branding standout?
Does your branding make you unique?
Uniqueness is the name of the game, and it doesn’t do you any good if your name sounds similar to a competitor’s or any other brand in your market space. The same holds true for names that are not memorable.
Does your branding appeal to your target audience?
This is one very key question to take note of, but in case your business is focused on young people, and the branding seems like it’s intended for their parents, then it’s honestly time for change.
Is your branding boring?
Your branding may be boring or maybe that is just how it is perceived to be. This will be hard to simply accept, but if a brand is beginning to become boring, rebranding can provide a new existence by engaging employees, while retaining current customers and gaining new ones.
Is your branding a part of your tradition?
Are your branding elements relevant to your employees, and do they all believe in your mission, vision and values? This is saying, your brand ought to be reflected and supported internally.
If those questions have you thinking that it might be time for your business or brand to embark on a rebrand, then it likely is. If not, keep up the good work.
Originally published at www.theideapress.com on April 5, 2017.