Est. reading time: 6 minutes
Spoiler Alert: You are about to be exposed to signs that indicate your brand may be running low on fuel and suggesting it’s time to refuel[rebrand] and get back the sparkling green light.
Rebranding at the wrong time can be a recipe for disaster. But when done at the right time, it can be your biggest game-changer and breathe new life into your business. It’s time to ask yourself: How do I know when to make a rebranding move?
Brace up, as we will be discussing that in this article. Let’s have it.
6 Indicators to Know It’s Time to Rebrand
1. Shift in Brand focus and values
Time evolves, and so do businesses. As a brand, it might be time for you to consider rebranding if your current brand identity does not align with what you do any more because of the changes it has undergone over time.
What are these changes?
It could be that your brand has expanded or niched down to meet specific needs. It’s logical. If your business is not what it used to be, why should your brand remain the same?
Imagine a full-grown woman in her forties, still identifying as a teenager. It doesn’t tally. So, as the brand focus changes, the identity and positioning will no longer encompass all that you offer. Therefore, to be able to effectively communicate your business vision and values to the audience so they don’t get lost and confused, you should rebrand.
Let’s give an example. Let’s assume there is a brand with the name ‘Everything Frames’ that produces frames of different types. Over time, this brand progressed to offering more value than just frames. You will agree that there is a need for rebranding, starting with a name that now reflects what the brand offers.
This is evident when Dunkin Donuts rebranded. They renamed the brand from Dunkin Donuts to Dunkin to reflect the brand’s current focus and show to the target audience that they are now more than pastries.
A giveaway for you: Rebranding is not just a name change, as not all rebranding calls for a name change. The message here is about being cohesive and communicating your brand’s purpose to your target audience.
2. Outdated Image (Visuals)
We have often heard people say they do not judge a book by its cover. Are they kidding? Why do you think the cover is there in the first place? Although, just like branding, rebranding is more than just logos or colours. Yes. There is no doubt about that.
But, your visuals will forever be part of what makes your brand as it is the first thing, most of the time, your target audience sees. Isn’t it surprising that the people who believe a book should not be judged by its cover will judge your brand by its visuals? So you see that if your brand visuals still carry concepts that the world has moved on from like we moved on from DVD to Cinema, then you can make a bold rebranding move.
Certainly, your visuals aren’t found only in logos or colours. Your packaging is your visual. Your typography choice is your visual alongside the photographs, illustrations and graphics.
Here is an extra giveaway for you: we all know trends come and go, so don’t get blown away by the trends and forget the crux of the matter. Rebranding weighs heavily on being different and relevant. So, updated visuals while making your brand more attractive should as well passes the message your brand signifies.
3. Merger and Acquisition
In 2023 alone, about 40,000 mergers and acquisitions contracts were sealed globally. When brands come together to become a unifying entity, one of these two things will happen.
It’s either they agree to adopt the branding of one of the businesses, or they brainstorm to rebuild another brand that will best suit and align with the new business. So, if you are considering merging or acquisition, that rebranding move can follow.
If you are unsure of what to discuss, here are some questions worth your time:
1. Do you [and any other brand involved]want to keep your existing customers, or do you want to change the audience?
2. What will change?
3. What will be retained?
What most brands, however, do not pay attention to is their target audience. Even though you own the business, it is your customers who own the brand – their perception of how you make them feel. Keep your target audience in mind, especially for a brand that has built a loyal customer base; you don’t want to throw that away, do you?
4. You are just like your competitors
What do you bring to the table that your competitors do not?
Another sign to know when you should rebrand is when your brand doesn’t stand out in the sea of competition. Imagine walking into a classroom with blindfolded students putting on the same uniform. Every student looks like the other, and you can differentiate who is who. That’s the scenario your target audience struggles with when your brand has no uniqueness to it.
You can consider rebranding if you are in this stage.
Do this if you want to figure out whether your brand is different from its competitors.
1. Ask yourself what makes your brand different. Imagine roles were reversed, and you were the audience, would you buy from your brand and why? Would you recommend your brand to other people?
Plus, you should be as objective as possible.
2. Survey to ask your audience what they like about your brand and what makes it stand out.
If you cannot answer these questions or your answers do not carry weight, then maybe it’s time to rebrand because your audience won’t be able to either.
And, because others also offer what you do, you need to be different to win in a saturated market in which rebranding is an option.
What’s the giveaway here? Avoid looking too much like everybody.
5. Bad reputation
Sometimes, brands get muddled up in bad press or scandal due to some issues beyond their control that could ruin the reputation they have painstakingly built over the years. A rebranding can help to save the situation, make a fresh start, and solidify your relationship with the customers.
6. New geographic location
As much as change is constantly occurring and brands are embracing it, the environment also matters. The truth is that what works for one geographic location might not work for another. Let’s take, for instance, a brand that wants to move to another country. You can consider rebranding to suit your new location better.
Do Not Rebrand For These Reasons
Even if you are excited about that fresh start, you should never rebrand for these reasons.
1. Familiarity
You think because your brand has been in existence for some years, it deserves a new look to make it on par with other brands that are just starting. No. This is not enough reason to rebrand. If your brand still communicates the same values and mission and your target audience clearly resonates with the brand, what you need is not a rebranding. You can improve on other aspects of your marketing tactics.
In fact, if a brand constantly rebrands, it might make your customers trust you less.
2. My competitors are doing it
We get it. You don’t want to be left out, and it’s okay. But before you go ahead to rebrand because your competitors are rebranding, we want you to respond either yes or no to these questions;
1. Do you share the same values and vision as your competitors?
2. Do you share the same goals as your competitors?
The last question.
3. Are you on a mission to be a copy of your competitors?
If your responses are negative, then it is not a sufficient reason for rebranding.
3. New members
Just because new people join your organization and want to leave a mark is not enough for you to rebrand. If the brand still stands, that is what they should improve on.
4. Decline in sales
If your brand is not making sales as it used to, it could be tempting to want to rebrand, but don’t do it yet. Rebranding is a big deal, and you want to be double-sure before you jump into it. Try out some other marketing strategies and if they fail, then you could consider rebranding. However, it should not be your first go-to solution.
Let’s wrap it up
Rebranding can help you shed old baggage, refocus your message, and come out stronger, bolder, and more relevant than ever. So, once you have decided to rebrand and for whatever reason you are rebranding, be it a shift in brand focus, outdated visuals, merger and acquisition, sameness as your competitors, or bad reputation, don’t stop; go for it and do it with Kian Consult for that is what we do best.
