Whether you’re a large B2B seeking investors, or a small not-for-profit trying to be heard, the importance of brand should not be undervalued.
In a marketplace saturated with competitors – all offering similar products, or services with similar features, and all vying for the same target market – it’s your brand that allows you to connect with your audience and differentiate you from your competitors.
So how do you know when it’s time for a rebrand? The following list is a good starting point.
1. A change in company strategy, services or offering
An organisation’s growth is often accompanied by a change in strategy, services or offering. If your brand doesn’t reflect this, it might be time for a refresh.
2. A merger or acquisition
This is an ideal time for a rebrand, where you can communicate the best parts of both companies under one united brand.
3. A period of growth
As an organisation grows, whether financially or expanding into new markets, it may outgrow its brand. To accurately represent the organisation to investors and consumers, a refresh may help realign your brand with your growth.
4. To differentiate from competitors
In a marketplace where the distinction between product features is becoming less and less, your brand is a key asset that helps you differentiate from your competitors. If your brand is being washed out in a sea of similarity, it might be time to reconnect with your audience via a brand refresh.
5. To better align with changing markets
Your market and your audience aren’t static – they’re constantly evolving. Whether it’s social, political, environmental or any number of factors, if you find your brand no longer speaks to your target market it might be time to consider a refresh.
6. To overcome a bad reputation
With any luck, your organisation should be able to avoid this. However, if you find yourself in this position, all is not lost. In the words of Don Draper ‘change the conversation’. A brand refresh will highlight your organisation’s positives and allow your investors and customers to reconnect with your products or service.
7. Or simply moving with the times
Even the most successful designs go out of style. Branding is no exception. If you find your brand becoming flat, stale or lifeless there’s a good chance your audience thinks the same and it may be time to consider a brand refresh.
If you’ve decided that a brand refresh might be appropriate for your business, it’s important that it is done thoroughly, thoughtfully and for the right reasons – and we’d love to help you out.