Every business has a brand identity that was created to differentiate it from its competitors. It’s the overall “image” of the business that carries the establishment’s mission and intent with it.
However, brand image doesn’t always prove to be effective for all companies.
Sometimes, along with its growth, businesses are compelled to implement certain changes to their brand in order to encourage growth. Whether you’re in the start-up phase, or one of the big brands in the industry, rebranding might be a need that you have, but not fully understood yet.
If you’re still torn between contacting your brand manager or not, here are 5 signs that you need to make that phone call now.
1. You need a new brand image
Rebranding is often motivated by change, and in the case of your business, you could be eyeing on a more inclusive image than the one you currently have. Whether you’re targeting for a totally different brand image, or one that’s more target-specific, rebranding is the ultimate solution to have that new identity for your business.
2. You’re targeting a broader market audience
So you’ve successfully established a brand-customer relationship with your young professional target market, and now want to better connect with the older professionals above the corporate ladder.
You can address this shift in the target market by repositioning your brand to be more appealing to your growing target audience.
3. You want to stay in the game
Competition has always been tough in the marketing world. Businesses are constantly on the lookout for the biggest and latest marketing trends around, and if you don’t keep up with it, you could lose to your competitors.
Change comes in many forms in the business industry. It can be in the form of the expansion of your product line, or your marketing tools. But generally, to stay competitive, rebranding is the best way to reinvent yourself and be unique against your rivals.
4. Your customers have no idea who you are
Whether you’re still in the start-up phase or that your business has acquired popularity of its products and services, a carefully crafted new brand image will connect you better with your target market.
It opens up a lot of possibilities. If your customers have no idea who you are, best show them a version of your business that they will remember.
5. You’re trying to get rid of negative brand associations
“Bad publicity is good publicity”; this quote has become the motto to a lot of brands that have received bad press. Yes, it happens.
The “bad publicity from unhappy customers” has happened a lot in the past. When things get out of hand, such as banning of your products or lawsuits getting filed, then rebranding is the easiest and most crucial remedy that should be considered.
Rebranding is essentially reinventing your business. It can be in the form of subtly changing your color scheme, font or image in your logo, or through more palpable ways, such as a shift in your marketing strategy and brand image.
But in whatever form or whatever reason, rebranding is the most sought-out means to stand out and survive in the business world.
