When Is the Right Time to Rebrand?
January, 17 2018
As consumers, we generally don’t realize the exact point we become brand aware. Throughout our daily lives, we interact with so many different brands without thinking about it but usually end up being subconsciously loyal to a select few. Although the number seems high, some studies suggest that we interact with around 4,000 different ads a day across tv, radio and social media.
Let’s face it, we all have our biases and preferences when it comes to certain brands; and to take even further, if we don’t recognize a specific company, we’ll completely write off their credibility.
This brings up the question, when should a business consider rebranding themselves? Does it have to do with their current brand awareness? Maybe, their company looks too much like another one? Or maybe, the brand has simply grown and shifted their mission.
To answer this, you’d need to take a look at a few factors that might aid in divulging existing problems with your current brand.
Your company looks too familiar to a competitor
Let’s say you and a familiar competitor had the same idea when tapping into the elements that make up your brand. This would result in using the same colors, fonts, imagery and maybe even verbiage when communicating your selling points. If the consumer or potential customers can’t distinguish between the two companies at a glance, then it’s definitely time to consider a rebrand.
You’ve shifted from your initial mission or focus
Evolution of a company is almost inevitable. And for the most part, expected. If your brand has outgrown its original mission from its early days or it has simply decided to focus on a new an improved initiative, rebranding could be the perfect way to communicate this message. Changing a business model to stay current with the climate of your competitors is a viable reason to start rethinking your overall image and in this case, approaching a rebrand with a fresh perspective could be extremely valuable.
When your initial brand was just a starting point
Let’s say you’re a startup, and the development of your company is moving quickly. You’ve set up an infrastructure, created somewhat of a general mission or direction, and you’ve got the initial building blocks for what could be a well thought out and expressive brand. Maybe it’s time to start extending the reach or the message to focus on an untapped market or it’s possible that you’ve finally found your voice and you’d like to make that concrete statement of “who are we”. In this case, a rebrand to the level of fleshing out the current brand would be a great idea. Catching a stride and finally understanding what you want to say and who you want to say it to would be the perfect chance to wrap a bow around your current brand.
It’s time to…..get with the times
There’s plenty of reasons to rebrand, but a common situation (and the easiest to justify) is that your current brand couldn’t stand the test of time and it’s time for a refresh. Updating the look of your brand to not look so outdated is the perfect time to consider a rebrand. But be careful. Brand awareness and brand recognition are a real thing and messing with your customer’s perception of your business can have negative effects that you weren’t planning for.
With every reason, rebranding should take place with greater attention than the first time around. Inspiration should draw from the past but not forget the direction that your company is headed in the future. Pay close attention to trends that are useful as well as those that will fade. It’s a process, but with a little work and research, you can come out with an amazing brand that speaks volumes about your company.
Also, be sure to contact us for any of your digital and PR needs in the future.
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