Rebranding your business is a tough decision to make. You chose your current branding for a reason, and it’s not always clear when it’s time to let it go and grow into a new look.

Unfortunately, no matter how well your current branding has served you in the past, time moves on. We often need to adapt to everything that comes with the passage of time and your branding is no different. So how do you know when it’s time to pull the trigger and hire a marketing agency to rebrand your business? Heed these common signs.

Change of Pace
Businesses will go through natural changes over the years. If you look at a company that has any significant history – you can expect to see a progression of changes. Companies going through any of the following situations could look into the possibility of new branding:

• New business model.
• New business strategy.
• New geographic location.
• Expansions.
• Mergers.
• Different products or services.
• Change in company mission.
• Change of target audience.

NBC Logo History Decades by Marklu2002

Increasing Prices
Raising your prices is a balancing act. Even if the costs of materials and resources are skyrocketing, you may meet consumer resistance when increasing the rates to cover expenses. If your customer only sees price increase but no perceived value increase, they’re likely to look elsewhere unless you have a fiercely loyal customer base. Your brand not only conveys your company’s personality, but the value of its products and services too. A thoughtful rebranding allows you to control the target consumer perception of the value of what you’re selling to fit the bill of production more accurately.

Industry example:
Nowadays if an outdoor brand isn’t committed in some way to bettering the outdoors, they’re dead in the water. When you think of The North Face, you might think of fleece pullovers on college campuses or ice climbers on extreme cliff edges. They haven’t always come to mind when it comes to environmental action. Now they have gear made from recycled materials as well as an entire collection of clothing that is repaired and refurbished. It has its own branding and section on the website – along with press coverage of the launch. Their commitment to the environment adds the perceived value to their clients.

Not everyone busted onto the environmental scene in the outdoor industry like Patagonia. From the start, Patagonia has branded themselves as eco-friendly, high quality, and “real”. So although they now have more products made from recycled and eco-friendly materials than on day one, they didn’t need to change their brand to make their customers understand the value in their products.

Nevermind the Negative
If your brand is being associated with something negative by your target audience or the public, rebranding might be the best way to separate your company from that perception. Facebook, now Meta, is currently undergoing a major rebrand of its own to dissociate itself from public criticisms and to increase focus on Zuckerburg’s vision of creating a “metaverse”.

If your business has gotten less than kind reviews, undergone multiple product recalls, or been linked to something unpleasant, it’s time to rebrand. In addition to your rebrand, your social media presence and public relations management will need close attention to keep everything new on the right path.

Marketing trends are constantly changing, and over time your target customer will, too. If you need to attract an audience who will spend more, then you need to get their attention with branding that they’ll identify with. It’s all about reshaping your company’s image to match your business goals. Once that image is refreshed, brand awareness is key to a new potential client base. Social media marketing will help you spread the word.

Industry Example:
Go back to the year 2010. If you were looking to buy a new car, would a Lincoln be at the top of your list? Probably not. The car company was at a 32-year sales low when they decided to take a risk to go from old and frumpy to the forefront of consumers’ minds with an ad for their new car model. The ad with Matthew McConaughey led to spoofs including SNL which brought even more attention to the brand.

The Lincolnaissance: What Matthew McConaughey Taught A Car Brand About Forging A New Identity

Stand Out from the Crowd
One of the many purposes of a strong brand is to separate yourself from your competitors. Research the kind of business you have, and if you notice that your website and branding are too similar to other companies, then you need to take action. Hire a digital marketing agency to evaluate and look into changing up your color scheme, logo, slogans, and content marketing to make your business stand out. It’s important to show off what sets you apart from the competition and show what makes you valuable to a customer.

Industry Example:
Treating breakouts has never been glamorous or fun. The marketing has been bland, geared towards teens, and something to be seen as shameful. Enter: Starface. True innovators in the breakout skincare game. In their own words, “Starface is where complexion meets confidence and authenticity. We take skincare concerns that were once thought of as flaws and translate them into an opportunity for expression.” On top of the product itself, their marketing was modern, fun, and bright. Far from the norm in the skincare industry.

Starface

Rebranding Benefits
Once you make the leap and decide to rebrand, you’ll start to reap the benefits of a much-needed business makeover.

• Build a sturdy foundation for customer loyalty.
• Increase revenue.
• Generate higher shareholder value.
• Increase brand equity.
• Attract high spending consumers and quality employees.
• Raises the probability of being chosen over your competitors.

Now that you have a rundown of why you might benefit from a rebrand, take some time to think about your company. No matter what you have planned for the future, for quality digital marketing services from a team of creative experts, contact us today.