Your brand image is very important to how successful your business is. It is the way your customers and the consumers at large perceive your brand. If you have a good brand image, you can easily build trust and credibility with your customers and potential customers. Brands often evolve, change or something might happen and they realize that they need to rebrand. A rebrand is like a fresh start or a way to put a burst of life into your brand image. Even though rebranding has a lot to offer your brand, it is not always beneficial or necessary to rebrand. In this article on rebranding, we would discuss the signs you need to look out for when you are thinking about rebranding. This would ensure that you don’t try to fix something that’s not broken.
Your Brand Looks like Everybody Else In Your Industry
Rebranding is very necessary when your brand is very similar to other brands in your industry. Sometimes brands in the same industry start to think alike and subconsciously adopt each other’s traits and brand image. This is can really hurt your brand because your brand won’t stand out and would get lost in the sea of other brands. For instance, Netflix and YouTube use a red, white, and black palette. When Twitch launched with a purple palette, this made the brand stand out. If you notice that your brand can’t be easily be differentiated from other brands in your industry then you need to start thinking about how to rebrand your business.
Your Brand is Outdated
If you notice that your brand comes off as old fashioned and outdated, then it is time to consider rebranding. If your brand is a well-established brand then you have to be very careful when rebranding so as not to confuse your customers. The best practice for rebranding an outdated brand is to change subtle things like with Master Card. Master Card simply removed its name from the logo but left its iconic Venn diagram. MasterCard was able to successfully rebrand and modernize its brand while still making it easy for its customers to identify the brand.
Your Brand has a Bad Reputation or Bad Press
If your brand has a negative reputation or bad press then it’s time to rebrand. This will give the brand a fresh start and would help your customers see the brand is a new light. But if you are rebranding to overcome a bad reputation then it is important you implement the changes both internally and externally. Note that good branding can’t cover up bad behaviour. So ensure you deal with what landed you in hot water first before you rebrand.
Your Business has evolved
As your brand continues to succeed, it would grow and evolve into something new and better. Your offerings, strategy, vision, mission etc. might change. When this happens you will notice your brand image doesn’t reflect your current brand strategy. This when you should start to consider rebranding.