Like the first day of school, rebranding your company can be a mixed bag of emotions; equal parts fear of failure and the gut-tingling excitement for a fresh start with renewed hope for success. Though not something easily decided upon, it’s vital to never shy away from the prospect of company rebranding if it seems necessary or appropriate for the needs of your business.
Telltale Signs That it’s Time to Consider Rebranding
- Product and/or Service Change: No longer offering just one service to customers? Company rebranding can help your business break away from the perception that it’s a one-trick pony, repositioning it as a one-stop shop for multiple consumer needs.
- Merger and/or Acquisition (or “Conscious Uncoupling”): If your organization is joining forces with another entity, acquiring another company, or experiencing a “break up,” it may be a good time to embody a new brand that reflects this change.
- Crisis: In most cases, there is a light at the end of the tunnel (or crisis) when your company finds itself in a sticky situation; however, if the damage is too extensive, a rebrand can help shed a negative perception or event.
- Revitalization and/or Relevance: It can be difficult for business owners to admit that their brand is outdated. To stay relevant in a rapidly changing marketplace, be honest with yourself and your customers by refreshing a brand that is no longer relevant or could use a reboot.
- New Ownership or Structure: If you’ve just gained control of an organization, or if the core structure of your company has changed, consider rebranding to put some distance between where the company has been and where it’s headed.
- Expanding to New Markets: A brand that is associated with a particular region or market can hinder expansion opportunities. In some cases, especially with hyper-local companies, company rebranding can make an organization marketable in multiple locations.
- Legal or Trademark Concerns: In some cases, rebranding is less about preference and more about necessity. Creating a new brand should be a no-brainer if it means keeping your company out of a legal battle.
With these considerations in mind, it’s a pertinent practice to regularly check the health of your brand. Never leave out the possibility of a rebrand if the circumstances are right. Having gone through this process ourselves, we find that Findsome & Winmore is all the more clear, inclusive and focused for it. As usual, it turns out those first-day-of-school jitters are nothing to fear at all.