Summary:
Knowing when to rebrand and the reasons to rebrand is crucial for personal and business success. Six signs indicate it’s time for a change: shifting focus, outdated collateral, identifying new niches, poor audience response, damaged reputation, and personal transformation. Refusing to adapt risks obsolescence. Embrace rebranding as an organic process to stay relevant and connected in evolving markets.
Key Takeaways:
- Know when to rebrand
- Signs that indicate it is time for brand marketing strategy review
- Why rebranding is right for your business
Reasons to Rebrand? Signs for a New Brand Marketing Strategy
Does your brand feel like it’s stuck in a time loop, still quoting ’90s sitcoms while the world has moved on to memes? If your business brand is starting to feel like it’s missing the beat, it might be time for a tune-up or even a reboot.
Just like fashion trends, your brand’s message. Look and feel must evolve to stay relevant. But how do you know when it’s time to trade in your old brand line and logo and invest in a new brand marketing strategy? The following provides a guide to the signs that your brand may be ready for a makeover. My goal here? Ensuring that your brand isn’t showing up to the party in a disco suit when everyone else is in chic cocktail attire.
The bottom line is that your brand changes over time and will require periodic adjustments. But how do you know when it’s time to invest the time, effort, and resources it takes to create a new brand marketing strategy? Your decision to embark on and reasons to rebrand is most often precipitated by one of the following scenarios:
1. Your Focus has Shifted
Your message has moved on, and your focus has changed. The way you used to describe who you are, what you do, or what you offer has shifted. Old language no longer conveys the new you. Your audience has shifted, and what matters most to them today is not what it was yesterday. Markets move, trends come and go, and technologies have made your brand old and obsolete. If your brand is speaking to an old way of working, it’s time to take on an update of your strategy by rebranding your business.
Example: A company that started as a print magazine publisher might shift to focus on digital content and interactive media. This shift would require a rebrand to reflect their new digital-first approach.
Suggestion: Conduct a thorough audit of your current offerings and compare them to your original brand promise. If there’s a significant mismatch, it’s time to consider rebranding.
Supporting Research: According to a Gartner report, 63% of marketers struggle with personalization, indicating a need to realign brand strategies with evolving customer expectations.
2. Out of Date Collateral
You are preemptively apologizing for your brand collateral. I often meet people who, within the first few seconds of discussing their brand, say, “Oh, please don’t look at my website. It’s horribly out of date. It’s embarrassing.” Websites and other collateral materials (including logos, colors, and fonts) that at best don’t accurately reflect who you are today and at worst are a source of shame scream out for a new brand marketing strategy.
Example: A tech company using a logo and website design from the early 2000s with outdated graphics and a non-responsive layout.
Suggestion: Regularly schedule brand collateral reviews (e.g., annually) to ensure all materials are up-to-date and consistent with current design trends and company direction.
Supporting Research: A study by Stanford University found that 75% of users judge a company’s credibility based on its website design.
3. Has Anything Shifted For Your Brand or Business?
You have identified a new niche, audience, or opportunity. Whether building a personal brand or updating a business brand, if the market you are going after has shifted, the way you express your visual, intellectual, and emotional capital may need to be adjusted to come into alignment with your desired audience or opportunity.
Example: A local bakery expanding to offer nationwide shipping of their goods would need to rebrand to appeal to a broader, national audience.
Suggestion: Monitor industry trends and conduct regular market research to stay ahead of shifts in your target audience or market opportunities.
Supporting Research: The Nielsen Global Trust in Advertising Report highlights how shifts in consumer trust and media consumption necessitate changes in brand strategies.
4. Diminished Responses
Your audience is not responding to your offers. Even if you think your personal brand is being clearly communicated, if your desired audience just does not seem to be responding, you either have an outdated, unclear, weakened, or undifferentiated brand. Regardless of the reason, you’re in need of a rebrand.
Example: An email marketing campaign that used to have a 25% open rate now only achieves 5%.
Suggestion: Implement A/B testing in your marketing efforts to identify which brand elements resonate most with your audience, and use these insights to guide your rebranding efforts.
Supporting Research: A HubSpot survey revealed that 61% of marketers consider generating traffic and leads their top challenge, often due to outdated branding.
5. Your Brand Reputation is Damaged
Your brand reputation has been damaged beyond repair. Whether due to your own actions or circumstances beyond your control, a brand that has been linked by association to a highly negative event or attribute may not be recoverable in its current state. For example, an entrepreneur whose consulting business bore the same name as a group that had just carried out a major terrorist attack contacted me to help her create a new nomenclature. Despite the fact that her organization clearly had nothing to do with the terrorists, the association was always going to be there in the public’s mind, so that was that. A rebrand was the only way out.
Example: A fast-food chain facing a major food safety scandal might rebrand to distance itself from the negative association.
Suggestion: In cases of reputation damage, consider a complete name change along with a new visual identity, but be transparent about the reasons for the change to maintain trust.
Supporting Research: A study by the Harvard Business Review discusses how companies with damaged reputations can regain trust through strategic rebranding.
6. Allow Room For Growth and Change
You have undergone a personal transformation. Often when an individual goes through an “eye of the needle” experience (such as a divorce, illness, or death), they find that they’re simply not the same person. Newly informed by their recent ordeal, building a personal brand redo is almost a rite of passage.
Example: A life coach who experiences a significant personal transformation might rebrand to reflect their new perspective and methodologies.
Suggestion: Document your personal or business journey and use these insights to inform your rebranding strategy, ensuring it authentically reflects your growth.
Supporting Research: According to the American Psychological Association, personal growth often necessitates changes in personal and professional identities, including branding.
7. You’re Embarrassed to Hand Out Your Business Card or Website Address
If you find yourself hesitant to share your business card or direct people to your website, it’s a clear sign that your brand may not accurately represent the quality or nature of your business. A rebrand can rejuvenate your company’s image, aligning it with your current values and offerings.
Example: A professional photographer using a generic template website that doesn’t showcase their best work.
Suggestion: Seek feedback from trusted colleagues or clients about your current brand materials. Their outside perspective can provide valuable insights.
Supporting Research: The Journal of Marketing Research suggests that first impressions significantly impact brand perception, emphasizing the importance of up-to-date branding.
8. You’re Failing to Differentiate Yourself from the Competition
In a crowded marketplace, standing out is crucial. If your brand is blending in with the competition, it may be time for a rebrand. A fresh, unique identity can help you carve out a distinct space in your industry.
Example: A local coffee shop that looks and feels just like every other café in the area.
Suggestion: Conduct a competitive analysis to identify gaps in the market. Use these insights to develop a unique value proposition and brand identity that sets you apart.
Supporting Research: A Deloitte study indicates that brand differentiation is critical for maintaining competitive advantage.
9. Your Brand Has Become Overly Complicated
A brand that has grown too complex can confuse customers and dilute your message. Simplifying your brand through rebranding can clarify your offerings and strengthen your market position.
Example: A software company that has added so many products and services that customers are confused about what they actually offer.
Suggestion: Create a brand architecture that clearly organizes your offerings. Consider consolidating products or services if necessary.
Supporting Research: According to Simplicity Index, brands that simplify their message outperform competitors by 679%.
10. You’ve Moved or Expanded Beyond Your Original Geography
Expanding your business into new regions or markets may necessitate a rebrand to ensure your messaging resonates with a broader audience and aligns with diverse cultural expectations.
Example: A “New York Pizza” shop opening locations in Tokyo would need to adapt its branding to resonate with Japanese customers while maintaining its New York essence.
Suggestion: Research cultural nuances in new markets and adapt your brand accordingly, while maintaining core elements that define your brand identity.
Supporting Research: The McKinsey Global Institute provides insights on how globalization impacts brand strategies, especially when expanding into new geographies
11. You’re Struggling to Raise Your Prices
If your brand does not reflect the value you offer, it can be challenging to justify higher prices to customers. A rebrand can elevate your perceived value and support pricing strategies.
Example: A freelance graphic designer unable to charge higher rates despite years of experience and an impressive portfolio.
Suggestion: Rebrand with a focus on communicating the value and results you provide, rather than just listing services. Use case studies and testimonials to support your new brand positioning.
Supporting Research: Research from the Journal of Business Research shows that perceived brand value directly affects pricing power.
12. You’re Trying to Connect with a New Audience
Targeting a new demographic or audience requires a brand that speaks their language. A rebrand can help you tailor your messaging and aesthetics to attract and engage your desired audience.
Example: A traditionally corporate B2B software company creating a new product for small businesses and startups.
Suggestion: Develop buyer personas for your new target audience. Use these to inform every aspect of your rebrand, from visual design to tone of voice.
Supporting Research: The Pew Research Center highlights how changing demographics require brands to adapt their strategies to effectively reach new audiences.
13. You’re Not Attracting Top Talent
A strong brand is not only attractive to customers but also to potential employees. If you’re struggling to attract the best talent, rebranding can enhance your company’s appeal as an employer of choice.
Example: A cutting-edge tech startup struggling to recruit because their brand makes them look like a traditional, outdated corporation.
Suggestion: Incorporate elements of your company culture and values into your brand. Showcase employee stories and behind-the-scenes content to give potential hires a genuine feel for your company.
Supporting Research: A report by LinkedIn indicates that 75% of job seekers consider a company’s brand before applying for a job.
People who refuse to update their personal, team, or business brand identity when appropriate and get stuck presenting themselves exactly the same way decade after decade run the risk of becoming obsolete and disconnected. Your brand marketing strategy is an organic process—not a fixed entity. Allowing room for growth, change, adjustments, and even transformations is the stuff that relevancy is made of.
Conclusion
It is important to recognize when your business brand needs to be elevated and to consider investing the time, effort, and resources into creating a new brand marketing strategy. This decision is often prompted by various scenarios and reasons to rebrand such as a shift in focus, outdated collateral, changes in the market or audience, and diminished responses from your target audience. By recognizing these signs, you can take the necessary steps to update and align your brand with your desired audience or opportunity.
How SMG Helps Our Clients to Meet These Challenges
For over 20 years, I have helped CEOs accomplish their business rebranding goals. Much of what I’ve learned about this topic comes from up close and in the fieldwork consulting work with leaders from Inc. 5000 companies, mid-cap companies, and startups.
As an author and columnist for Inc.com, I constantly search for studies, surveys, real-world examples, and techniques to help my clients achieve stronger rebrands that keep them on trend, on brand, and up to date with the marketplace.
If, after reading this article, you find yourself thinking, “Yes, I get it. I need to hire a rebranding agency to help me with this,” but are in a quandary about how to get there, consider booking an initial consultation with me at no charge.
I will review your current brand before our call and give you at least one or two specific ideas you can use to rebrand: no sales, just helpful information and insight. You can book a session with me here.
