Rebranding is something that needs to happen every so often. It keeps your business – and your own mindset – fresh and open to change. And of course, it’s a great idea to do a regular internal audit of your business, your mission, and your brand to make sure that you’re still where you want to be and headed in the right direction. Now more than ever, businesses need to be able to adapt to a changing world.
However, rebranding is a big step to take. It’s not something you should do unless you absolutely have to. So how do you know when it’s time to rebrand?
Your Idea of Brand Doesn’t Go Beyond Your Name and Logo
Many of us make the mistake of equating “brand” with “logo”. It’s true that branding often starts with a good logo, but the logo is merely a representation of the brand itself. Think about well-known brands like Apple, Target, Starbucks, etc. Apple’s logo is a simple, clean apple, but it represents innovation, passion, power through technology, and imagination. Anything your business stands for, anything people have come to expect from you – that’s your brand. When many small business owners begin their career, they have an idea and a name, but don’t often take the opportunity to think through how their name, their logo, their mission, and their ideas all fit together. If you haven’t taken this step – it’s time to REBRAND.
Your Business Focus Has Changed
Have you been operating independently, but now you’re growing your team? Are you trying to reach a new demographic? Over time, markets change, industries change, and our own personalities change. Branding is all about building a reputation around your message. And the reality is that your message is going to evolve as your business grows and evolves. If your message isn’t evolving, then chances are you’re not evolving and that’s not a good thing.
You Aren’t Growing
While it’s important to find a focus for your business, you also want to make sure that your brand gives you room to grow. How do you know if your focus is too narrow? Take a look at your customer base – do most of your customers come from similar backgrounds or demographics? If your brand is becoming known for serving only one kind of customer, you’ll have to do some work to let others know you’re willing to serve them as well.
You’ve Lost The Passion
If you are feeling bored with your business, it’s definitely time to reexamine what you’re doing and how you’re doing it. If your customer base has dried up, it’s time to reflect on your brand. You should be the most passionate and most excited about what you offer. If you aren’t, set aside a day (or a weekend if you can!) to brainstorm, redefine, and rejuvenate your brand.
Remember: If you aren’t deliberate with your branding, others will define it for you. Take control!