There are many good reasons to undergo a rebrand, and the off-season is the perfect time to get analytical about your current branding.
If you’re thinking about a rebrand, first ask yourself these questions:
1. Does your brand tell a story about you?
Customers seek personal connections with brands. Think about how you are engaging with your audience, do you have a meaningful story and are you selling it?
2. Is your brand’s story still relevant?
You might have found the ideal story five years ago, but people’s opinions, likes and dislikes change. Are you still offering a story that will connect with your demographic? Or do you need a new story that can branch out to new demographics?
3. Can You Identify a Problem with Your Current Brand?
Does your desire to rebrand fit one of these points:
- You need to shake off negative connotations. E.g. Your brand has become associated with something negative, or the wrong audience.
- You need to reach a new demographic. E.g. To appeal to a younger or older audience, or to simply branch out to a larger customer base.
- Your brand is boring or out-dated. E.g. Do you need to give your image new life by modernising your messaging?
- People have no idea who you are or what you do. E.g. You can’t tell people in a few words what your company does, or you’re still unknown in the market.
- You’ve expanded beyond your original scope. E.g. Do you offer much more than you originally intended, or have you expanded your geographical location?
- A product is taking over your business. E.g. A product you sell, that is not made by your company, is taking over your identity.
4. Will a Rebrand damage your Brand Equity?
It’s one thing to update your branding with a good reason, but if it’s simply because “you think it’s time” … don’t do it. Rebranding without a valid reason could simply damage all your hard work. Brand equity refers to the value of a well-known brand name and reputation. Having positive brand equity builds trust with your audience and inevitably leads to more sales or leads. Will your customers still identify with your visual brand in a positive way if you undergo a drastic change?