Is your company offering completely different products or services than you did when you first launched? This is a pretty clear-cut indication that it’s time for you to rebrand your business.
If you don’t rebrand, people might not know that you’re able to offer them something different than what you did before. By rebranding your business, you can give them a much better idea of what your company is all about now and see an increase in sales in no time.
There are other signs that’ll let you know you need to learn how to rebrand a company, too. Take a look at seven of these signs below.
1. Everything About Your Brand Looks and Feels Outdated
When your company first launched back in 2010, it might have looked like it was right on the cutting edge. Everything from your logo to your website made your business appear as though it was fresh and modern.
But if you’re rolling with the same logo and website in 2019 that you were using back in 2010, there’s a good chance that you need to do some rebranding. Those things probably don’t look anywhere near as fresh and modern as they once did.
2. There Are a Million and One Brands Just Like Yours Now
Did you help introduce an amazing new product or service to the world when your company first got off the ground? Back then, there was no one doing things quite the way you were.
But at this point, there are likely at least a few copycats who have taken your same formula and used it to create similar products and services. As a result, you might be blending into the crowd right now even though you helped originate your product or service.
Step back out into the limelight by learning how to rebrand a company and making rebranding a top priority. Your company will look more original once you’re done.
3. Your Brand Was Involved in a Merger or Acquisition
If your brand was involved in either a merger or an acquisition and you’re still a part of it, it’s the perfect time to rebrand. You can show people that things are changing within your company by reworking your business name, your logo, and more.
Your company is going to change at least a little bit in the aftermath of a merger or acquisition. People will know to expect it when you warn them by doing a rebrand that sets a different tone for your business moving forward.
4. Branching Out Into New Markets Is on Your Brand’s To-Do List
Is your company interested in expanding into new cities, new states, or even new countries? Before you get too far ahead of yourself, it’s important to take a look at your brand and see if it’s going to work in other markets outside of your current ones.
If you don’t think that people in these markets are going to “get” your brand, it’ll show you that rebranding needs to be on your radar. Rebranding will offer your company the opportunity to drum up interest in your business as you move into new places.
5. You Want Your Brand to Be Able to Charge More for Products and Services
Do you want to convince people that they should pay more money for the products and services that you offer at this time? You’re going to have to find a way to change the perception of your business as a whole in order to do it.
Fortunately, it’s possible to do it by learning how to rebrand a company. If you’re able to give your business a more high-end look and feel, you can change the way that people look at your company.
Once your high-end look and feel are intact, people will think more highly of your products and services and be more willing to pay a little extra for them. They’re not going to have this same reaction if you raise your prices on products and services while keeping your same-old look and feel.
6. Your Brand Has a Bad Reputation for Some Reason
Was your company caught up in some kind of scandal that earned you nothing but bad press for a little while?
You might be tempted to ride out the wave and hope that people find a way to forgive your business in the near future. But most business owners that have their reputations dragged through the mud for one reason or another choose to rebrand rather than sticking with their original name and logo.
By rebranding, you’ll be showing your customers that you’re a different company than the one that got into some kind of trouble. You’ll make it look like you’ve turned over a new leaf and want to get a fresh start in the business world.
7. Legal Issues Are Threatening Your Brand’s Future
Is your business name or logo so similar to the business name or logo of another company that they’re suing you over it?
You can take your fight to court if you believe that you’re entitled to the name or logo. But you might rack up tons of legal fees and end up losing your case in the end anyway.
You’re better off thinking about rebranding your company to make it all your own. You can avoid legal issues now and in the future by making sure that your name and logo are both unique to your business.
Figure Out How to Rebrand a Company Before It’s Too Late
One of the worst things that your business can do is hold on to the past too tight. You shouldn’t be afraid to rebrand your company when you feel like the time has come to do it.
If you’ve spotted any of the signs listed here, think about learning how to rebrand a company and then get out there and do it. You can give a fledgling business a new lease on life with a rebrand.
Read our blog to learn more about branding your business to the best of your ability.