Too many business owners believe that a company’s “brand” is simply the company’s name and logo. Of course, that’s just not true. A brand is much more than just its underlying company’s name and logo.
Yes, a name and logo are key ambassadors for a brand making it important that they both be strong but ultimately, your company’s brand is the sum total of the experiences your customers and prospects have with your company. A good brand establishes trust and credibility while communicating what they do and how they do it. Because brands evolve over time, many companies, including some of the most successful ones, choose to rebrand.
Rebranding is actually quite a common business move for companies. Most of the time, we don’t typically notice branding changes as consumers, unless they’re serious makeovers. Most are subtle transformations such as a colour change. It may seem like changing a logo or the font of your company’s name on business cards might not be a huge deal, but rebranding can be a very serious declaration of intent. A marker of your company’s commitment to evolution and upward growth.
So when should a company consider rebranding? Here are four ways to tell when the time is right.
1. Differentiate from your competition
If your company name is generic and similar to that of other businesses, you’re hurting your brand. A generic logo will similarly hurt your brand.
A related problem occurs when you use stock art in your branding or marketing materials because many consumers recognize stock art when they see it. Not to mention your competitors may be using those exact same photos and artwork.
This is where rebranding comes in. It can help your business stand out from your competitors by showcasing the things that make your company not only different, but better.
2. Give new life to outdated branding
Is it possible that your Comic Sans font, flash-based website or 1990s colour palette is dragging your brand down and making your business look outdated? The answer is definitely.
So what are you going to do? The answer is rebrand. Smart companies rebrand because they know that good design can make or break a business, because they know they’ve outgrown their original mission.
Always advising clients to make sure their business is not too narrow or literal, our design team knows how to build brands from the ground up that are not only in line with today’s trends but surpass them.
3. Outgrow a poor reputation
It happens. Sometimes a business needs a brand overhaul to break ties with its bad reputation and visibly demonstrate a commitment to a new, improved culture.
If your business is struggling to overcome a negative reputation, a rebrand can help consumers see you in a fresh new light.
4. Evolve with your business
Sometimes a business gets the opportunity to expand or target a new market. When this happens, it’s important to ensure that your new customers and prospects can connect with your brand.
One example that comes to mind of a business rebranding in this case is ours! Originally known as gldstudio for 3 decades, our business started small and then grew as our dreams and realities got bigger.
Once those dreams and realities surpassed our expectations, we knew it was time to take the next step upwards. We transitioned from gldstudio, a name that has served us well, to The Design Thinking Agency, a name which helps us push the limits of Brand Strategy and Development as well as overall awareness for our clients.
Having performed and gone through the process of a rebrand ourselves, we know firsthand what it takes to bring a brand to the next level setting you a part from your competition and resonating with your target audience.
So when is the right time to rebrand your company? If you’re trying to differentiate yourself from your competition, need a fresh new look that’s in style with today’s trends, looking to outgrow a negative past or evolve your business, it looks like the answer is, today!
Change is never easy but change is also good. Give us a call today and learn more about how we can help bring your brand and business to the next level. After all, we build brands.