So you’re thinking about rebranding?
As a strategic design agency, we know how beneficial a rebrand can be, and have helped many clients transform their businesses this way. While we love rejuvenating brands and turning them into greater versions of themselves, it can be challenging to know when you should consider the rebranding process and whether this is the best choice for your business. To do or not to do? That is the question!
To get you thinking about the reasons behind your potential rebranding, to feed whether you should or shouldn’t take the plunge, take a look at the below example.
Just last year the well known American retail giant Sears, that has been trading since 1883 decided to refresh their logo after a year of declining sales and bankruptcy battles. If the reason behind the rebrand wasn’t enough of a red flag, the house logo chosen was extremely similar to that of Airbnb’s, tainting the new brand instantly.
Jim Cusson, president of Theory House said: “I think there were more critical issues to address than putting a new face on the store”. Sometimes a rebrand just doesn’t make sense in the current climate and ends up being counterproductive to the cause.
While this can be a daunting process, we’re here to help! Below are some situations where you should and shouldn’t consider a rebrand.
When you should consider a rebrand
- Your brand doesn’t represent what you stand for or offer. Things change, that’s just part of being an innovative business! Those that refuse to adapt are simply self-sabotaging. So as the market changes, businesses need to be open to moving forward with them. A lot of the time a new brand strategy is a perfect tool to revisit your offering and hone in on what your brand truly stands for in the current climate.
- Your brand is outdated and hard to comprehend. If you’re not willing to grow with your market and remain up to date, then you risk becoming old news.
- Your current brand doesn’t stand out and is affecting the business.
- You have a new image, product, customers or competition and are being overshadowed by branding that is no longer appropriate or relevant to your goals.
When you shouldn’t consider a rebrand
- It’s a fix for a larger problem. Maybe internal issues have risen that are affecting the success of your business. A rebrand can’t help when there are underlying issues that need to be tended to first.
- Your business is under new management.
- Because everyone else is doing it. If there’s no meaning behind your rebrand then you’re essentially just burning money having one done.
- Sales are down. A brand’s sales will fluctuate all year round and if they hit consecutive lows there’s most likely more to the story. While a rebrand may be the first thing to come to mind when your business isn’t succeeding, there are other options available that can boost your brand awareness and grow customer engagement, you may just need to inject some time and money into marketing efforts.
If you’re unsure of the next best steps to take to keep your business thriving, get in contact with us at Pepebucks! We can audit your brand to help you decide if a rebrand is a necessary step moving forward and are happy to suggest relevant alternatives that can get your brand seen and engage your audience.