Almost all companies will someday come to the milestone known as the ‘rebrand’, for some it will be early in the business but for many it will come after the company has outgrown their current branding. A company’s brand is its primary public image and changing it is a tough decision that takes a tremendous amount of courage. However, there are some clear signs that will show you when a rebrand is really necessary.
Loss of Sales
If your business is suffering from a loss of sales or a reduction in the numbers of customers, then a rebrand could give fresh life to the business. A rebrand will allow you to re-focus and bring your customers back from competitors. In this situation you have to find a way to rebrand and show how you have changed because only by doing that will you reverse the downturn in sales.
The look and feel of your business needs to be closely tied to the branding. If your visual identity is outdated or your looks fail to demonstrate your brand, then you should consider rebranding. Some businesses have been around for a long time and there branding will naturally become stale. A fresh look gives something new for customers to connect with and will encourage more sales because of this.
Attracting Wrong Market
Bringing in customers may always seem like the business is doing well but there could be difficulties if they are not your target market. Attracting the wrong customers shows your brand is not targeting the consumers you originally set out to. This means the business is not doing what you intend and the only way to bring about change is to rebrand. Also many businesses shift target markets throughout their lifespan and in order to successfully re-focus you need to rebrand.
Changing management is often a sign that the company wants to make a new start and show their audience some change. This isn’t always the case but if a new manager is being added to try and breathe life back into the business, then there should also be a rebrand. This is because a rebrand and management change show that the business is attempting to move in a new direction.
Change of Vision
Most businesses will adapt to the marketplace and try to stimulate growth by changing vision and focus and a rebrand will further reinforce this change of philosophy. It will tell your customers that you are approaching the business in a new way and offering a new range of products or services. This rebrand needs to reflect the new vision and direction of the company or else it will be entirely pointless.
If you feel like your business needs a rebrand, we at PrintDesigns can offer great deals on high quality promotional products including pop up stands, roller banners and other display stands to launch your new visual identity to your audience!