Your company’s branding is the most valuable and forward-facing asset setting your business apart from competitors. Brand identity is created through various visual elements and verbal language to identify and distinguish the brand in the buyer’s eye. However, you need to pay attention to a few critical signs which will help you decide when to rebrand your business.
How do you determine the best time to revitalise your branding? Some tell-tale signs include that your website and logo are outdated, your target audience has changed, or maybe you feel that your brand is no longer credible. Brand and brand identity are often misunderstood. Keep an eye out for these signs that it’s time to rebrand your business and discover how you can do so successfully.
When to Rebrand Your Business
Rebranding can sometimes feel as if you’re taking a step away from your brand’s original intentions. It’s important to remember that revitalising your brand can bring it closer to your business’s core values. However, knowing when to rebrand your business is only half the battle. It’s also important to be aware that rebranding will affect all aspects of your company. Keep that in mind when determining the right time to rebrand.
Signs that it may be time for a rebrand include:
- You look like everybody else in your industry
- You’re looking for a new audience
- Your brand has expanded
- Your brand is outdated
- Your brand doesn’t reflect your values
- You have merged or acquired a new business
How often should you rebrand your company?
Knowing when to rebrand can be difficult but doing so will not only strengthen your external appearance but also help grow your business for the next generation. Most businesses rebrand once every 7-10 years.
Whether through changing a logo style, restructuring a website, or switching out your brand colours, rebranding will enhance your visual identity. Changing the look and feel of your brand will ensure you stay ahead of your competitors.
What are the biggest benefits of rebranding?
The biggest advantage to refreshing the look and feel of your brand is the ability to reach new customers. People notice when you focus on new aspects of your business and promote them correctly. A rebranding will also set you apart from your competitors and will demonstrate that your business is evolving while at the same time boosting your bottom line.
Rebranding will not only impact your overall inbound strategy but make your company more profitable. Reaching new potential clients, standing out from your competitors, showcasing your expertise, and expanding the influence and reach of your products and services are all effective ways to increase your profits. You can achieve all this by knowing just when to rebrand your business.
Building a New Brand
It might start with a name and a logo, but if there’s one thing the team at Bartercard knows, it’s that building a trusted brand is much more than just graphic design. Any trusted brand is built upon a foundation of service to the customer, not profits and the bottom line.
People buy from people. Here at Bartercard, we help you barter goods and services to find common ground and build trust. Remember, it’s not just a transaction. Rebranding your business will help you focus on building rich connections with your customers.
For more information on the values and practices that will make your brand the most trusted in your industry, contact Bartercard today.