Rebranding is the natural evolution of any successful business or nonprofit organization. Some rebranding efforts can be subtle, like the addition of a new color or font on your marketing material, while others can be a huge transformation – think new logo, website, and target audience. It may not seem like big deal to notice a new font on a company’s business card but rebranding is always a declaration of your company’s commitment to evolution and upward growth.
Here are 5 signs that your business is ready and in need of a serious rebrand:
You outgrow your original mission:
As your business evolves, so does your brand. Your mission 5 years ago, when you were a rookie in the entrepreneurial world, may not reflect what your brand has become. In this case, it’s time to start thinking about changing your look to match the “feel” of your company.
You’re ashamed to give out your marketing material
We hear this a lot: “Don’t mind my website, I really need to update it.” and “Here’s my card, but it’s old….”. If you cringe a little bit when handing out your business cards or sending potential clients or customers to your website, you should most definitely start thinking about a rebrand. Yea, it’s time!
You want to connect with a new audience
A sweet new brand will allow you to redefine yourself with the goal of reaching new and untapped audiences. Staying on top of demographic shifts is good business practice. Afterall, the last thing a young millennial wants is to associate itself with the brands of their parents’ generation.
When the market is evolving quickly
Oftentimes, a rebrand is necessary to keep your business competitive in an ever-changing and growing market. Companies whose services may be top notch may get left behind because their brand is not associated with the “cutting edge”. In this case, rebranding as the market changes should definitely be part of your business plan.
You’re not attracting top notch talent
As it goes, the best talent wants to work with the best brands – duh! If you’re having trouble recruiting the caliber of employees that is necessary for the advancement of your business, it might be because your brand is associated with subpar industry standards or a negative image. A rebrand allows you to redefine your business standards and practice, not just for your customers, but for your current and future employees as well.