Rebranding Your Business: When Is the Right Time?
Your brand is far more than your logo and company name: It’s what your company stands for, your customer’s experiences, and the quality of your service. Your brand is essentially your company’s personality. And just like our own, a company’s personality evolves and changes over time. And it’s at that point when it’s time to rebrand.
How to know when it’s time to rebrand?
Rebranding is not something to take lightly. It can really make or break your business, so needs to be heavily considered. Timing is everything for rebranding too: Too early and people won’t recognise your original brand, too late and your competitors will have already taken your custom. So, when is the best time to rebrand?
When Your Competitors Are Doing Better
If you’ve still got the same, simple, generic logo and company name as when you started, but have noticed competitors are accelerating at a faster pace than you, it’s probably time to rebrand.
Your brand needs to help you stand out from your competitors; it needs to show your customers why you’re different and how you’re better. If you’ve noticed your competitors have a more modern and updated feel about them, your likely being left behind.
When Your Branding Has Become Outdated
There’s nothing wrong with consistency. But eventually, branding and design loses its edge and blends into the background. Updating your branding will give your business a new lease of life, as well as attracting new customers.
Take a look at your website and compare it with competitors. Are you still using a basic site with Times New Roman and a simple colour palette? Are your images stock photos, rather than your own? All of this can make your brand look outdated, and customers will quickly move on to find a different company.
Your business has expanded
If you started off just selling phone cases, but now sell other tech gadgets and gifts, you need to make sure your branding reflects your new ventures. Your logo should encompass everything your business offers, rather than limiting it.
Similarly, if your business started off as a low-budget option, but has gradually become a more mid-tier in terms of pricing, you should rebrand to reflect the new level.
To get away from a bad rep
Sometimes, a business might gain a bad reputation that’s hard to shake off. Rebranding is the perfect way to show the world you’re improving your services and are ready for a better future.
There are several reasons why you might need to rebrand, and these all fall into when the right time to do it is. Sometimes, you’ll just have a ‘gut feeling’ that things need to change. If you’re thinking about your own business branding, Bodhi-Design can help. Get in touch to see how we can work together.