“Should I Rebrand my Company?”
Marketers and business owners often get overwhelmed when they hear the word “rebrand”. Understandably so, branding encompasses everything from your logo, typography, messaging, printed materials, digital collateral, website design and so much more! What’s important to figure out is how to maximize your brand to enhance ROI and attract new customers from your target market.
Creating a new brand takes time, research, thoughtful planning and honest reflection of your current brand strategy. For instance, “what story is my brand telling?”. It is definitely not something you want to jump into without thinking through how a rebrand can benefit your business and ultimately attract new clients. How do you know when you should rebrand?
Here are 10 questions to ask yourself when considering a rebrand –
Audit your current brand:
1. What unique benefit do you provide to your clients?
2. How old is your brand/logo?
3. How is your brand perceived in the market?
4. How do you want to be positioned in the market?
5. Does your current brand look similar to your competitors?
Question the longevity:
6. Is your brand timeless?
7. Is your brand versatile across many business entities?
Understand your target audience:
8. Who is your target market?
9. Has your ideal client changed as your business has evolved?
10. Does your current brand resonate with your ideal client?
Bottom Line:
It is critical to approach a rebrand with a clear understanding. Does your brand effectively appeal to your ideal client, or is there room for improvement? Rebranding doesn’t necessarily have to be a complete overhaul. Some assets may be adapted to fit your new goals - we call this a “brand rollout” (see our list of “Must Have Marketing Materials” here).
Whatever the case may be, when investing in a new brand it is important to collaborate with a team of professional designers to develop marketing materials. It is crucial to have a brand that will stand the test of time and deliver the right message to your target market.