September 23, 2022 | Branding
Rebranding your business is a big decision. There are many pros and cons to consider. Often a branding expert is the best person to help sort through the factors and come to the correct conclusion. A branding agency has the expertise and the outside perspective needed to make the best decision and help you decide if now is the time you should rebrand.
Here are six questions that may help you evaluate your situation.
1-What’s good with your current brand?
It’s easy to focus on why you dislike your name or logo, but don’t overlook how your brand works. This can also help you determine if you need something completely new or if you will make some adjustments to your existing brand.
2-Do you need a new brand or just additions to your current brand?
When we work with new businesses, we usually put together a style guide that includes the fonts and colors used in their brand. As your business grows and you use more channels for marketing your company, your brand and guidelines need to expand.
For example, you may need new versions of your current logo that work in black and white or horizontally. You may need to expand your visual identity beyond the logo and create a complete visual brand by developing secondary color palettes, icons, or a library of images.
Creating these assets systematically, rather than as-needed for each project, allows you to plan for how you want your brand to grow.
3-Do you need something new, or do you need to clarify what you already have?
Similar to number 2 above, many businesses lack brand guidelines that are thorough enough.
Maybe your sales team is making PowerPoint decks, and your marketing team is creating social media graphics, yet they don’t look like they came from the same company. That’s probably because the corporate brand standards do not include the guidance they need.
Instead of a new brand, you may need to create a library of approved images or standards that describe the imagery that fits your brand. Then, it would help if you made these assets and guidelines available and understandable to everyone creating materials.
4-How many places will you have to update if you change your brand?
If you have a business with signs, trucks, uniforms, packaging, etc., there will be considerable expense beyond the creative fees for a visual rebranding.
However, if you have a professional services company, you probably do not have a lot of collateral that needs reprinting. Expenses beyond the design fees will be minimal.
Make sure you factor the entire cost of rebranding into your budget.
5-How well-known are you really?
Most small businesses lack visibility and awareness. The personal brands of the founders or lead employees are often more important than the corporate brand.
If you lack brand awareness, there is little risk of making a change. Go ahead and rebrand if a new brand will better represent your company.
6-How does your current brand fit in with your plans?
When you initially came up with your name, logo, or other brand assets, they probably filled a need you had at the time. Now, there is some reason you feel it’s not a good fit.
If this mismatch is getting worse, you will want to rebrand eventually. To avoid being in the same situation a few years from now, consider where you want your business to head and build a brand you can continue growing into.
If it is time to rebrand
Updating your brand or rebranding can take many forms. Be clear about what’s not working with your current brand, and then work with an expert to help you evaluate the best way to reshape your brand to suit your needs.
Is it time to rebrand?
Avoid 6 common mistakes and plan for a successful rebrand that grows your business.