Rebranding can help you survive in a changing industry or open your business up to new profit-making opportunities. Sometimes it may be difficult to make the call, when there are significant costs associated with redefining your brand.
Consider the signs below that will point you in the right direction.
Your branding is outdated
If you are embarrassed to direct clients to your website or give out your business card, then it is time for a change. Staleness in a business will drive clients will away if they do not think that your business is moving with the times or falls short of your competitors.
You are moving in another direction
Changing your business’ image may help it grow. If you are changing your message or strategy, altering your products or services or trying to capture a new target demographic, rebranding may be necessary to achieve these goals. For example, a rejuvenated image may help you catch a more youthful demographic while keeping your initial loyal client base.
You are recovering from a blunder
If your business has recently been in trouble or made a mistake, rebranding is akin to a rebirth. By changing your brand’s image, you disassociate from past mistakes that have been made and encourage people to speculate about the new possibilities and direction of your business. Rebranding is critical in shifting the focus.