10 Signs it's Time to REBRAND

Wondering if it's time to re-brand? That is often the first sign!

Re-branding can be vital in the growth of your business. Not only can it connect you with new audiences; it can also set you apart from your competitors, help you stay current and relevant, and even give your business the opportunity to charge more.

There are a million benefits to re-branding your business - when it's the right time... But how do you know when it is that is? Listed below are 10 signs that it's a good time to consider investing in a rebrand.

• Your Brand Name No Longer Reflects Your Vision

  Let's face it- sometimes the business name (or slogan) you came up with 15 years ago doesn't accurately represent everything your business is about today.
  
  Why let this hold you back? Change is good for a company, it makes room for
  your business to grow and prosper.

• You Cringe at the Thought of Handing Out Your Business Cards or Website

  This happens more often than you would think. That moment when someone asks for your business card, and you are almost too embarrassed to reach in your pocket. This is a major sign it's time to re-brand!
  
  If you can't take yourself seriously- how can your potential client?

• You're Failing to Stand Out From the Crowd

  At the end of the day, your brand's purpose is to differentiate you from your competition. So if you are unable to stand out from the crowd, and you are too good at blending into the background.. I would HIGHLY recommend a rebrand!
  
  Repositioning and capitalizing on what is unique about you can make your brand a lot more visible to potential clients.

• Your Brand Has Become Over-Complicated and Confusing

  What is your brands message? Is it a slew of different offerings with no unifying brand narrative? This can be REALLY confusing to your audience, causing their eyes to glaze over and move on to the next potential candidate. If this is you, it's a good time to consider simplifying and focusing your brand. When it comes to branding, increased complexity means decreased cohesiveness. 

• Your Business Model and/or Strategy Has Changed

  Sometimes the objectives you had for your company when it was founded,
  are no longer the same goals you have 5 years down the road. The market
  changes, technologies get upgraded. Chances are if your business is changing, 
  your brand needs to follow. 

• You've Outgrown Your Brand

  Your brand has expanded farther than you ever dreamed of- and it's bursting at the seams! What happens when Tri-State Finance sees an opportunity to relocate to Florida? Or maybe SoCal Designs wants to start picking up business from the Pacific Northwest and expand? In times like this it is VITAL that you allow your brand to grow with your business.

• You're Undergoing a Merger

  Mergers and acquisitions should always be looked at as an opportunity to re-brand. You have two separate brand identities coming together, if not careful; both brands can suffer due to the confusion that comes from the lack of brand alignment.

• You're Struggling to Raise Your Prices

  If the market price for your products or services seem hopelessly fixed, despite the rising cost of materials, there may be one last thing you could try. Your brand ultimately boils down to your audience's perception. By rebranding, you're able to change the way consumers perceive you, and raise the asking price of your services accordingly.

• You're Trying to Connect With a New Audience

  As time goes on, new generations come up with new fads. These generations bring fresh, new ideas and perspectives to the market, leaving you and your business in the dust struggling to catch up. A rebrand can allow you to redefine yourself with the goal of reaching these new and untapped audiences. Staying on top of demographic shifts will always be good for business.

• You're Not Attracting "Big Fish"

  Big fish swim with the big fish, right? If you are having trouble nailing these big clients, it may be because your brand is associated with subpar industry standards. A rebrand would allow you to redefine your business, giving you the advantage you need to catch that bigger client.

With all the benefits of rebranding, the investment pays off. Just be sure that it's the right timing! Whether they are plain as day or hiding right under your nose, signs it's about time for a rebrand can be found just about anywhere. So evaluate your business, consult a graphic designer, and get to rebranding!