Do you think it’s time for a fresh and innovative change to your company? A new logo, colors, maybe even a new name all together. Rebranding is a big step. We want to start you off on the right foot in this process. Your brand is not solely what colors you use or the logo that appears next to your name, but the visibility and reachability you have to your target audience based on your values and how you present them. Most importantly, your brand is what your consumers think of you. Unsure if it is time for you to rebrand? We’ve compiled a list of the best questions to ask yourself if you are considering rebranding.
Why?
The first question to ask is why you want to rebrand. Focusing on your why will highlight what aspects of the brand you think need to be changed, or maybe you realize they don’t after all. A common reason to rebrand is a change in your target market’s preferences. We’re human, it happens. We change our minds all the time. Your audience might form a completely new opinion on brands they are deciding to buy from, and you need to rebrand in order to shift with their preferences and stay atop your competition. Maybe you want to introduce your company into a new market completely. Rebranding creates an opportunity to communicate your business’ purpose from that point on. Perhaps your mission and vision no longer align with your brand and you have lost sight of what your company represents. Creating new statements which fully support the company’s values might be the first step you need to take. If you are taking on new ownership or merging with another company, rebranding would be a smart way to combine the best of both worlds by establishing your values which apply to the direction you wish to take your new brand. If your brand has been under scrutiny and has unfortunately been gaining a bad reputation, rebranding could be the fresh start your company requires. Answering the ‘why’ question first will reveal your goal in rebranding your company, if you don’t already know what that is.
Have You Conducted Market Research?
Before committing to the process of rebranding your company, it would be helpful to do market research. It’s essential to know the needs of your current consumers, if you would like to continue to attract them. Are you currently targeting the right demographic for your brand? Notice their shopping habits. How often do they buy from you? Do they buy from you because your logo is easily identifiable? Do they only trust your brand? Are you targeting the wrong group of people? Should you be expanding into an additional target market? There are several effective ways to conduct market research. A survey is an example of an efficient way to hear from your audience. In doing so, you must engage your audience so they will not dismiss it. If you are unsure who your current target market is, conduct research on your current consumers and demographics to gain this knowledge instead of trying to make guesses.
Remember that there are more people involved in the rebranding process than just your consumers. Your employees are familiar with your current brand and will likely have thoughts on how to make it better, or what they would like to see remain the same. Throughout the stages of rebranding, seek the thoughts and opinions from those you trust and are veterans in the company and include them in your research. It will also serve as reassurance to them that their opinions are valued. It could also be a good idea to reach out to current clients and lost clients, if they’ll participate, to learn their opinions of the company’s brand. Their opinions may have a different viewpoint that you hadn’t considered. After all, what your consumers think about your company ultimately determines your brand’s significance. The more data you have on the view of your brand from a variety of targeted groups, the better idea you will gain of what attracts your target market.
Do Your Mission and Vision Align with Your Current Brand?
Consider the mission and vision of your company. Are they still accurate in portraying your company’s values? Do they completely capture how and why you do what you do? If the answer is yes, it is unlikely that you need a total rebranding. If the answer is no and you feel as though your mission and vision statements do not represent your company well, or your company has changed and is heading in a different direction, then it sounds like you’re in need of some rebranding! Your mission and vision are the foundation of your company which you can use to build your visual identity, your logo and colors that represent it. If your company has evolved and changed drastically since starting or you are looking to move in a different direction, it may be a good idea to revisit your mission and vision statements to see if they still represent the purpose and goals of the company.
Are You Thinking Total or Partial Rebrand?
How much of your brand needs to change and see improvements? A total rebrand could include changing the name and logo of the company to a new slogan, mission, and vision statement. If you think you need to change everything about your company and “re-invent it”, a total rebrand would be what you are looking for. Not every company needs a total rebrand. Maybe you would like to keep the name, mission, and vision of your business, but create a new logo to better capture the essence of your company. Or maybe you just need a new slogan or colors to enhance your company’s theme on your website. These less extensive changes indicate the need for a partial rebrand. Whether you need a total or a partial, time will need to be invested into this process, so remember the importance of patience. When looking at an overview of your company you might determine that you only require a partial, as opposed to a total, to be successful in your rebranding.
Are You Just Bored?
I don’t mean are you bored right now reading this article… I sure hope not! What I mean is, are you sick of seeing the same logo and colors every day thinking they are getting worn out and becoming outdated? I hate to break it to you but, it might just be you. As an owner or employee of a company, you see your own design every day. Reach out and ask your customers what they think of your brand. Your target market would know better than anyone if they no longer feel your company is producing what you say your value and purpose is. Plus, there is a good chance they will tell you why. If they communicate to you that they think your brand is outdated and does not match your company atmosphere, or your goals are not being met, then it may be time to switch it up. However, if they really like it, it captures your brand, and it’s working for you, then why change it? Just because you might not be ‘into it’ that day does not mean your consumers feel the same. Customers that trust your brand are 71% more likely to purchase from you (Global Banking and Finance). To them, consistency offers a sense of comfort in knowing they have a brand that they put their trust in and can continue to trust.
Is It Broken? If It’s Not Broke, Don’t Fix It
This brings us to the last point. That famous saying, “if it’s not broke, don’t fix it.” You might think that your current logo and colors need to be updated because they have been the same since the beginning of time. However, logo and colors are what identify you and might be the aspect that catches the eye of your consumer to hook them into your brand. Your brand itself is how your audience feels about your company and what you stand for. If they are successful, your customers are happy, and all together you are meeting your goals, don’t try and make drastic changes just because you think it’s feeling a little repetitive. Repetition is not necessarily a bad thing. My good friend Elizabeth Arden (just kidding, I’ve never met her in my life) says, “repetition makes reputation and reputation makes customers.” Your customers are used to seeing your brand a certain way and that keeps you identifiable among other brands. The brand you have built up has created trust and established a connection between you and your consumers. If you change something that is already so successful and well recognized, you run the risk of losing dedicated customers.
So, Are You Ready?
For some, rebranding is viewed as a fun and exciting fresh start. For others, it might be scary and overwhelming, especially if you don’t know where to begin. After looking over these questions, do you feel that rebranding is the next step for your business? Maybe you’re not sure how to get started. That’s where we come in! At THIEL, we pride ourselves on bringing your brand to life by fully capturing the identity and values of your company to connect with your audience. We will walk you through every step, help to answer these questions and any others you may have to make this project fun and take the weight off your shoulders. Check out thiel.com, give us a call and we’ll get you started!
