Rebranding is part of the natural life cycle of any strong brand. But how do you know when you need to rebrand?
Too often, in the hustle and bustle of everyday life, you miss the signs. And even when you do notice them, the decision to rebrand is rarely an easy one.
When you realize it’s time, the question “why do we need to rebrand?” turns into “why didn’t we do this earlier?”
Often, it’s not even a question of whether your company will need to rebrand, but when you will need to do it.
Your brand name no longer reflects your company’s vision
It happens. What seemed like a great name 15 years ago no longer reflects what your brand is about.
Sometimes changes in cultural context change the way a name is viewed. Sometimes a name just isn’t right for the next step in a brand’s evolution. telemarketing data If Larry Page and Sergey Brin hadn’t changed Google’s original name, we’d all have BackRub as our browser home page.
No matter the reason, you shouldn’t let your brand name hold you back. A strong name is the foundation of your brand. It’s your brand’s calling card, appearing at every customer touchpoint.
You fail to stand out from your competitors
Ultimately, branding is the process of differentiating your business from your competitors. But you’d be surprised how many companies fail to communicate their key differentiators.
When you don’t have a clearly defined identity, making sales and growing your business can be extremely challenging. It’s important that both your employees and customers understand why your brand is superior to the competition.
Rebranding can help you identify and reframe your key differentiators, including your competitive advantage: what you do better than any of your competitors. Your competitive advantage is what sets your brand apart from everyone else.
Your business model or business strategy has changed
You can’t always predict what external influences will force your business to change. But when your business model or strategy changes, your brand should change too. The way your company is perceived by those it serves should always be consistent with its performance.
When working on a brand change, to adapt to fundamental changes, you must begin by redefining the core tenets and directions of your business, i.e. defining a “brand wheel.” Any comprehensive rebranding begins with affirming your company’s purpose, vision, mission, and values.
Why does your company exist? Where is it going? a lead genaration with so many social mia platforms to choose from How will you get there? What values define your company?
Clearly articulating these principles is the starting point for any rebranding, especially if it involves a change in business strategy. The Brand Wheel underpins many other components of your brand and charts the course to your future success.
You’ve outgrown your brand
Realizing that you’ve outgrown your brand can sometimes be as difficult as realizing that it’s time to rebrand.
Even if you are meticulous in managing your japan data brand, there will come a time when you will outgrow the original version. It is not a question of what you will have to do, but when.
When rebranding in this case, you don’t have to give up all the elements of your old brand. Although your brand has weaknesses, there are also strengths that you will want to build on going forward.
The boundaries of your business have expanded significantly
Another sign that you should rebrand your business is if you have expanded the scope of your business beyond the area or city where you originally started.
Regional businesses often face the need to rebrand after significant expansion. If your brand name is tied to the place where it originated, it may be appropriate to rename it.
However, no matter what your brand name is, expansion will always lead to new customers with needs you haven’t explored. And the only way to find out is to do research.