What is rebranding?
Rebranding is a decision taken by a company to change its established brand and its appearance. This includes anything to do with your brand, including logo, slogan, advertising, colour scheme – anything.
Some companies want to modernise, so might only change their font style and colour to appear modernised. On the other hand, some companies choose to take some time to transform their whole brand.
There are advantages and disadvantages to both – it just depends on your audience and what’s going to work best for them.
The purpose of rebranding is to take a company in a different direction. They might change their target market, aims, intentions and, if they do, they’ll need the branding to reflect these changes.
It is important to note that rebranding is often an expensive and time-consuming option. Whether you have an in-house team or need to outsource for your rebrand – it will set you back a few pounds. However, the long-term result of a company rebrand will hopefully outweigh the initial cost. As a business, a loan could be a sensible option as it helps you invest in areas that will help expand and develop the business further.
Now that we have established what rebranding is – here are some signs your business might need to shake things up a bit.
Signs your business needs a rebrand
Change in audience
When starting up a business, there’s always a target audience in mind. Once you’ve established your demographic, branding and advertising can get altered to capture the attention of said target audience.
However, audiences can change over time and, your branding might no longer be relevant. Subsequently, a rebrand can help you attract new people and take advantage of your shift in attention.
Your branding is outdated
Perhaps you have built a company decades ago and, it’s still going strong now. While that’s all well and good, you need to keep up with the times. Modern brands are emerging left, right and centre, so you need to adjust to being in with a chance of competing.
You’ve merged with another company
If you’ve merged with another company, a rebrand is definitely on the cards. The dynamics of your company will have changed completely, and you need to ensure your branding represents every aspect of your business. Whether you merge your logos or create a new image altogether, rebranding is the perfect way to celebrate your new business venture.
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