It is a great question! Just by raising the question, then in the back of your mind, you must know something isn’t quite right and something needs to change.
But what part needs to change?
Some business owners might be cautious about rebrand’ing, particularly as it can be costly to execute. But rebranding is often necessary and extremely positive; like a rebirth, renewal, refresh, changing the face of the business, changing how you position and differentiate your brand in the market and pitch your business.
When considering rebranding - here's 5 key things to consider -
1. The overall look and presentation is old and tired.
This is a very common question when businesses and brands have been around for a long long time. They get old, stale and of greatest concern is that sometimes this is the perception left in the consumer’s mind. It can reflect that the business or brand is stuck in the past and not innovating, and/or keeping up with the times. It may or may not require a full overhaul, but instead only need a modern injection to bring it up-to-date. Look at brands like Shell, Holden, Qantas - all of these have done this many times over the years and have maintained their recognition while moving with the times.
Image Source: https://en.wikipedia.org/wiki/History_of_Qantas
Image Source: https://www.shell.com.ph/about-us/the-shell-brand.html
Image source: https://www.pinterest.ca/pin/341569952983028972/
Should your brand be showing its age - then its time to think about a rebrand.
2. Your business isn’t represented properly and your brand hasn't evolved with your business.
This is also quite a common situation. Where your logo, website and marketing materials no longer represent who and what your business stands for today. They are disjointed and therefore there is a disconnect.
This makes it very hard for internal marketers and sales teams to represent the brand. It’s also likely that your customers are confused and not really getting what your business or brand is about. Confusion is the enemy of any brand.
If you're brand no longer represents your business correctly, then YES - you need to rebrand.
3. Your business has changed markets and/or industries.
Over the years we've seen businesses ‘carry over’ logos from one business in one industry, and move it into an entirely new industry. Thinking, well I’ve paid for it - then I might as well re-use it.
Brand beware! Logos and brands are designed to represent a brand and its different audiences, their needs, their language & expectations – using a cookie-cutter approach to all logos - is fuelled with concerns and risks.
If, for some circumstance that your business/brand is required to move to different industries, then it’s time to consider a rebrand, because it’s a whole new audience and will require a completely new brand development & strategy.
4. Done, Dirt Cheap!
This is also quite common when businesses start out. They only have enough money to get what they need to get the business up and running. Often the logo/brand is left until last. Or worse, there are no funds left to invest so it gets outsourced to a friend's teenage cousin or sites like 99designs, Fiverr or E-lancer.
What you end up with is a brand that may look ok but doesn't mean much. These logos are merely words or a shape on a page. Not a brand with strategy, differentiation, purpose or personality. Not a brand that customers will understand or want to get behind. Just a graphic – rather than an identity that is meaningful and memorable.
As soon as your business can afford it, YES it's time to invest in a proper rebrand by professionals who really understand branding and can bring your brand to life in meaningful and impactful ways.
5. The Big M!!! - Merger!
This mainly happens for larger firms. Where two companies merge under 1 new banner. Some businesses retain some form of the old logo/brand but often, it doesn’t work.
The challenge is 2 different teams, cultures, messages, marketing materials etc merging as one.
Aim to do the same justice for your new brand and entity in any merger. Generally, this should be an entire NEW brand rather than a rebrand.
Summary.
If your business is asking these type of questions, then it's time to consider a rebrand or even an entirely new brand. We recently conducted a survey on behalf of one of our clients about their brand identity - 80% of those interviewed agreed that their brand was tired, not modern, didn’t do their company any favours - needless to say, there was no question that a rebrand was necessary! After the rebrand exercise, over 100% of the same audience agreed that the new identity better represented the company in a positive, modern way.
For more information on this case study for Horner Recruitment - click here
We’re here to help...
If you’d like to know more about the rebranding process or whether your brand could do with an update - book in a 30 minute, no-obligation consultation with Craig.