Have you ever walked by a mirror and thought that you need a style upgrade? Business brands also work this way. Your business may show some red flags indicating the need for change but these signals are often lost in the day-to-day hustle of completing business tasks. The decision to rebrand is often a difficult one as most companies are unable to tell when they actually need a new lease of life into their businesses. So what are some of the signals that you need to invite a branding agency into your premises? These are some signs that show you need to rebrand.
1. You cringe at the thought of handing out your business card
Do you feel that your company’s website needs an upgrade or do you have a disclaimer on your website asking clients to bear with the outdated site? It may be time to rebrand. Business cards hold crucial information relating to the business such as the website, email address and even social media presence. If you cringe at the thought of handing someone your business card with information then you need to call a branding agency.
2. It is difficult for clients to differentiate you from your competitors
Branding should ultimately help to differentiate you from your rivals. If you think consumers are finding it difficult to tell you apart from your competitors then it may be time to shake things up. Rebranding can help you reaffirm your unique selling point among your potential clients while also setting you apart from your competition.
3. You have experienced a major paradigm shift in your business
Rebranding may also prove useful if your business has recently witnessed major changes. For example, businesses that have recently experienced a merger or a takeover may deem it necessary to rebrand. A new identity helps to reassure clients of better products and services while also offering information about the new changes introduced.
4. Your business does not reflect the changing times
Old businesses are likely to have put a little thought into the branding aspect of the business. The recent economic, social, business and even technological changes may prompt you to rebrand. For example, businesses that have incorporated other products, services or even processes may find it necessary to change their brand to reflect the new changes in the business sphere.
5. Threat from a new competitor
The entrance of a new business that is strikingly similar to yours may prompt you to rebrand your business identity. For example, a new business offering similar products or services as your company may create confusion among buyers. Rebranding in such instances will help you to maintain dominance over your market share.
6. A change in mission, vision or company goals
A company’s mission and vision often dictate its brand identity. Changes in these aspects of business may necessitate a rebranding initiative. If your firm chooses to be environmentally conscious or to develop sustainable initiatives, rebranding can help redefine the new direction that the company has taken.
Rebranding breathes a new lease of life to businesses having an old or tainted brand. While all these signs are unlikely to show in your business, having a significant number of these signs shows the need for change.