3 Rules of Thumb when Rebranding
Are you considering rebranding your business? If your brand seems tired and your sales are falling off, rebranding can breathe new life into your business. However, if you make some mistakes while rebranding, it can cause you to lose customers or even go out of business.
Here are three rules of thumb that any business should follow with a rebrand.
1. Rebrand for the Right Reasons
Why are you rebranding?
Some business owners decide to rebrand whenever their profits start to dip, but their brand is not always the cause for this. Some decide to rebrand because they add products or expand their services, but again, this isn’t always a good reason to go through rebranding.
One of the issues with rebranding is that you do lose some recognition. While current customers may easily shift to your new look and style, even your new name if you change it, some potential customers may not make the connection.
Why rebrand? There are a few good reasons.
First, if your branding is definitely showing its age, you may want to update it so it appears more modern.
Second, you may have gone through some kind of event that negatively impacted your brand. Changing it can help you leave that negativity behind.
Another good reason is if you have made a major shift in your product line or offered services to the point that there is almost no overlap between your old offerings and your new ones.
2. You Don’t Have to Change Everything
Many companies that rebrand believe that it means changing everything. However, one important rule of rebranding is to keep what’s working and change what isn’t. You may not need to do a full overhaul if your logo perfectly encapsulates your brand and looks great. Your company name and slogan may also be fine, but your color scheme might need an update. This is where using surveys or focus groups can be very useful. The data collected from these tools can help you narrow in on what’s not working.
That’s not to say that a full rebrand isn’t always a good idea. There are times that starting over from nothing isn’t a bad idea. Just make sure you truly need to do that work before you do it.
3. Understand that Rebranding Can Fail
Some companies have done a major rebrand only to find that their customers greatly dislike their new image. There are even cases where these companies have reverted to their old branding rather than push forward with the change. Understand that it’s fully possible for your rebranding to fail and actually hurt your image. Again, doing focus groups and getting feedback on your new branding is important before you do a full company-wide rollout.
Are you ready to start rebranding? As part of your rebrand, you will likely need new signs, vehicle wraps, and tradeshow booth items. The team here at SignSmiths of Texas can help with all of these items. Contact us today to discuss your rebrand and how we can help you transition into your new image. Back