7 Signs your business could be ready for rebranding
Is your business doing well, but you see opportunities to expand into new areas? Are you thinking about adding a new product line to strengthen the business? Do you feel the timing is right to reposition the business for the upcoming year? Is your audience changing? Are you loosing business to the competition?
If you’ve thought about these types of questions, or are experiencing any of the signs listed below, your business may benefit from a re-branding initiative.
1. Expansion opportunities
Business starts gaining momentum, new clients come on board, and revenue starts to increase. As your business grows, becomes stronger, and reaches a wider client pool, you have the opportunity to revitalize your brand and marketing techniques to market to the new target audiences. Adaptation equals survival, potential additional revenue, and success.
2. Positive changes from within
There may be shifts taking place in the business’s foundation, such as changes in leadership or a new vision being implemented. In order to stay connected with the targeted market, the company’s story needs to evolve as well.
3. Aging brand presence
The current brand identity, marketing, and sales materials have fallen behind the curve and now appear outdated and stale. Besides providing quality products or services, one key to maintaining your existing clients and winning new ones is creating a brand presence that is fresh, authentic, and up to date.
4. Reputation management
Reputations are critically important, and a damaged one can be devastating. However, damaged reputations can potentially be repaired or rebuilt by a comprehensive rebranding initiative that shows authenticity, transparency, and improves the company’s story, to rebuild trust with clients.
5. Slow or nonexistent momentum
A rebrand can uncover differentiating aspects of the business that you’re able to get excited about again and be able to tell potential clients about. This helps lead to an improved presence in the marketplace, new business, and services.
6. Seize the opportunity
If a trustworthy rebranding opportunity presents itself to improve your business, consider it, knowing you want to take the brand equity into consideration. This will improve the overall image, improve company culture, and improve levels of the business.
7. Investors call for the initiative
If the investors are interested in your business, but they’re wanting a rebrand, now’s the time to go through with it. Everyone should have the best interest of the business in mind, so work together towards making the business better.
Sculpting the proper rebrand can be a challenging, yet rewarding, path to take. If your company is at this crossroad of consideration, give our team a call today.