Why Rebrand? 3 Reasons to Consider For Your Business
Rebranding your business can be exciting, but it can also be incredibly risky. This isn’t an undertaking you should pursue without a very good reason — and without first examining your “why.” If you’re turning to a rebrand out of desperation (or, even worse, without a plan devised by brand strategy consulting experts), you might end up confusing your audience even more with a rebrand that doesn’t resonate.
Since 89% of marketers say that brand awareness is their top goal, that scenario can be disastrous for your strategy. But before you get into the nitty-gritty of what your rebrand might involve with leading marketing consultants, you’ll need to determine whether a rebrand is a good idea in the first place.
There are a number of possible reasons to work with a brand strategy consulting professional on a rebrand, but not all of them are excellent reasons. Below, you’ll find three considerations that could warrant a rebrand with help from the outsourced marketing services I can provide.
Your Audience Has Changed
Understanding a business’s target demographic and how to effectively market to them is a key part of brand strategy consulting and brand marketing overall. But what if your intended audience needs to shift (or has already shifted) significantly? In response, you may need to rebrand your business to capture the attention of other demographics. However, this needs to be done thoughtfully; otherwise, you’ll run the risk of alienating the audience you already have. If it’s already been determined that you need to reach a different demographic in order for your business to survive, a rebrand may be an appropriate choice. That said, you’ll need help from an experienced brand strategy consultant during this process to ensure you’re truly able to target your main demographic without unnecessary fallout.
Your Business Has Changed
Even if your target demographic has essentially remained the same, there may be major aspects of your operations that have not. For instance, your business may have grown so much that your previously established mission, values, or overall strategy no longer resonate. If your business has been part of a larger merger, you may also need to think about rebranding in order to provide clarity to your audience. You may also have decided, after years of remaining in relative anonymity, that your lack of marketing needs to change so your business can thrive in the digital age. And if you’ve made significant changes in the products or services you offer, your organization may be suffering from an identity crisis. In any of these scenarios, teaming up with a brand strategy consulting firm on a rebrand makes a lot of sense.
The Whole World Has Changed
If your business or target demographic hasn’t changed, you might assume that a rebrand isn’t necessary. But that may not always hold true. Just because we remain the same doesn’t mean that the world around us will follow suit. In fact, the world has undergone a massive transformation in just the last six months or so. Brands across the globe have been forced to pivot their marketing, their offerings, and their business models just to stay competitive during our current economic and health crises. The pandemic isn’t the only cause of major world shifts, either; even prior to COVID-19, the competitive landscape of your industry may have evolved to the point where your business has had trouble breaking through. And while it’s important to remember that these evolving conditions don’t always reveal the need for a total rebrand, it may be worth analyzing your competition with help from a brand strategy expert to determine whether this may be the right move.
Of course, there are other valid reasons to consider a rebrand — and even if your business, industry, or audience has changed, that doesn’t always mean it’s the right time to launch a rebrand. Working with a branding and marketing professional is ultimately the best way to determine the next steps for your business. For more on how I can advise you through a rebrand and solidify strategy and identity for your organization, please get in touch with me today.