Is it time for a rebrand?
Got a rebrand on the brain? Perhaps you think it’s time for a brand refresh or a full rebrand. How can you really know if it’s a good time to invest in a rebrand? Well, you are reading a blog written by a branding agency, I bet you are thinking that we’d tell you, “Now’s the time to rebrand!”but of course it’s a bit more nuanced than that.
If we were to say now is always the right time, then it would discredit any sort of challenges that you are facing and put you in a position to make a decision based on emotion vs. the potential value for you as a business & brand to be created through a rebrand project.
So is now the right time for you to rebrand? Let’s find out together. Chances are, you may not need a rebrand but perhaps something entirely different that would create even more value to you and your business.
We made a list of 4 reasons NOT to rebrand to help you determine if it’s actually a good time for you.
4 Reasons NOT to Rebrand
1. Because our current brand system & assets could be better.
Everyone’s assets could be better but the ROI for you to invest in a whole rebrand is unlikely to make a monetary improvement for your brand if you just need slight adjustments.
2. Because we want to keep up with the Joneses.
Keeping up with the Joneses is not a good reason to rebrand and your audience will feel it if that’s the reason you are going through it. Additionally, if your branding isn’t costing you sales, it might not be time to rebrand yet.
3. Because there's one piece of our brand that doesn’t fit with the rest.
If there is one element of your brand that needs improvement, it makes sense to elevate that piece of your brand rather than going through a full rebrand.
4. Because we need sales FAST!
Building a brand is a long play and influences sales over the long view not the short view.
Reasons TO Rebrand
If those aren’t the reasons that you want to rebrand, here are 5 good reasons TO rebrand.
1. Because we don’t have a brand at all.
This is a common challenge for companies that start as side project and grow into full time work. At some point, your company will grow out of the logo your cousin made you. If this is you, it's likely a good time for a full brand system build.
2. Because our current branding isn’t aligned with who we are & what we do.
Perhaps you started as a commodity export / import company but have since narrowed your work to specialize in trading specialty products like coffee, spices, and cocoa. It may be a good time to rebrand so that who you are as a brand is aligned with what you do since it has evolved.
3. Because our current brand isn’t connecting with our target audience.
Unfortunately, people's taste changes over time. The things that connected with folks even just 2-3 years ago are stale now and need updating. If your engagement has dropped, your inbound leads are not good fits, and you can sense that your brand isn’t attracting the right kind of folks, it’s a good time for a rebrand.
4. Because our current assets aren’t pushing our competitors.
This is more about positioning your brand as a leader in your industry. It’s about leading the pack instead of pacing with the pack. If you are pacing or lagging behind the pack, it’s a good time for a rebrand.
5. Because our last rebrand was over 5 years ago.
We recommend folks go through a brand refresh every 2-3 years and a full rebrand every 5 years. The pace of business in the 21st century is incredibly fast and has only gotten faster since 2020. Because of this, the things that matter to your business now might not even be a conversation in 3 years and in 5 years there will likely be new challenges to replace the old ones.
Additionally, the digital assets you needed 5 years ago are likely not serving your company well in 2022. We believe in this so much that we are constantly making changes to our own creative assets internally too. If you’ve not refreshed or rebranded in the last few years, it’s a good time for a rebrand.
Are you thinking it’s time for a rebrand? Drop us a line, we’d love to explore this with you.