“It’s time to rebrand.” It may be the single most daunting words to hear as a business owner. As reassurance, rebranding is an inevitable part of the natural lifecycle of a business, even successful ones. 

Perhaps your target audience has changed, or your business strategy has evolved. 

That said, knowing when and how to rebrand your business is vital for achieving prosperous outcomes.

5 Top Reasons Why You Should Rebrand Your Business

What is a rebrand?

In short, a rebrand is about aligning your brand with your value proposition. Rebranding includes changing the organisation’s overall image and corporate messaging to improve profitability and ensure it stands out from competitors.

How to rebrand your business? 

Rebranding comes in many different forms. Maybe you need to adjust your service, add a new product to the mix, update your logo, or restructure your website.

In this way, rebranding your business is not about going back to the drawing board, scratching away the entire brand and beginning a whole new business. 

It’s about adjusting, altering and evolving specific parts of the business so that your customers can connect with and invest in your business.

Visual identity 

If your branding is outdated or losing its uniqueness among your competitors, it may be time to reshape your visual identity. 

The visual identity of a brand is how your clients – both potential and loyal – recognise your brand. 

These involve the visual elements that are immediately recognisable as a specific brand. How do you know when your visual identity is working? When a customer sees your logo, colours or product and acknowledges that it’s your brand.

The visual elements include a logo, colours, typography, photography, and illustrations that are represented in your business model and marketing efforts.  

Verbal identity 

This is the voice of your brand. Your voice is communicated through blogs, social media posts and other marketing efforts. Taglines, names of products and services, and messaging are a part of your overall verbal identity. 

If your business is missing the mark when attracting the right target audience for you or your business is losing potential consumers because of confusion, the verbal identity of the business may need some tweaks. 

Research phase 

Before rebranding your business, research is key. This phase includes collecting data from how clients and internal and external stakeholders perceive your current brand. 

By analysing this information, the business can determine if a rebranding is necessary and what needs to be rebranded.

Brand identity phase 

Once a rebranding strategy is ideated, it’s time to execute the rebranding of certain aspects of the visual and verbal identity.

Why Rebrand Your Business? 

1. Your business model has changed

Your brand needs to align with your business model and strategy. 

The way your business is operating and the way it is perceived need to be synonymous. 

For instance, if your brand has decided to adopt an environmentally-friendly approach to manufacturing, your brand should represent this through its visual and verbal design. 

2. You can’t differentiate your brand from the competition

Have you noticed that your brand is confused with others who sell the same products or offer the same value proposition? 

This is a sign that it’s time to rebrand. 

Differentiation from the competition is an essential ingredient for success. By standing out from the competition, you can attract the right target audience and sell your products or services for profitability. 

How do you achieve competitive differentiation? 

Clearly communicate your unique selling proposition. What value can your brand provide that others can’t? Focus on articulating that when you rebrand. 

3. You’re not reaching your target audience

Without customers, a brand wouldn’t exist. That’s why our entire brand should pivot on attracting the ideal target audience. 

Why aren’t you reaching your target audience? 

Customers’ preferences are fluid, and a brand needs to be flexible enough to fulfill these needs.  Maybe your target audience’s needs and values have changed. 

Revitalising the brand is then necessary. Giving your brand a facelift to suit these changing needs ensures maintaining relevance.

Or perhaps your target audience is too inclusive. Your brand won’t reach and attract everyone. A well-defined target audience helps a brand connect to the potential clients we need for our business to thrive. 

Keep in mind; don’t be too broad, but don’t niche down too much. 

4. Your product or service has changed 

Is your product new and improved? Or maybe your service proposition has changed. No matter what the reason may be for adjusting or altering your product and service, rebranding offers you the opportunity to realign your messaging and visual identity to adequately communicate these changes. 

5. Your image is outdated

A brand needs to be relevant. If you find your business is not tapping into the market it once did, a bit of rebranding goes a long way. 

An “outdated” brand could mean it needs revitalisation to stay on trend or the consumer’s preferences have changed. Align the brand’s identity with these shifting trends and needs to remain relevant and differentiated. 

Conclusion 

Overall, every business wants to thrive. Regularly evaluating your brand provides the opportunity to see where you are succeeding and where you’re missing the mark. Whether these reasons are as clear as day or hiding beneath a brand audit, rebranding is a natural part of an organisation’s growth.