6 Surefire Signs it’s time for a Rebrand

February 24, 2020
6 Surefire Signs it’s time for a Rebrand

Branding is one of the most important aspects of any business. It is the promise you make to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from your competitors'. A brand is dynamic, and like any long term relationship, needs to be reviewed and updated over time. 

Set time aside and review your current brand. 

• Do you feel disenchanted with it? 
• Are you worried that it might not stand a chance among the competition? Is it feeling lackluster? 
• Is it one you designed years ago, maybe even when you first started out, but haven’t touched since? 

If you’ve nodded your head “yes” to any of these questions, you will want to continue reading. Here are clear signs that your brand is due for a spruce up.

1. You haven’t given your brand much thought in the last five years.  

While this doesn’t necessarily mean that you’re in need of a complete rebrand, it’s worth doing an audit to see if your brand is still relevant in today’s marketplace. Do the logo colours still feel appropriate? Is the content aligned with your business goals? Does the brand messaging reflect your core values and mission? Take all of these into consideration, as they could be good indicators that it’s time to rebrand.

2. Your business or industry has changed drastically since you last rebranded.

Even the most successful companies can be blind to their own branding. When the clients are calling, cash flow is healthy and business is going steady, it’s natural to set your branding efforts to the back burner. If you find that your business or industry has changed drastically, it’s worth checking to make sure that your branding is still serving its purpose, so you can continue to remain relevant and timely in your industry.

3. Your competitors have upped their game.

Keeping a finger on the pulse of your industry is an advantage, as it allows you to know when your competitors have upped their game. Consumers are becoming more and more savvy, having more choice now than ever before. You don’t want your brand to look tired and outdated when placed next to your competitors. If your brand pales in the face of the competition, it’s time to rebrand.

4. Your ideal client has changed.

Self awareness is a key component to any thriving business. It’s important from time to time to realize who your ideal client is and if this persona has changed over time. For example, when you started out you may have worked primarily with families, and now you work with single professionals. Your existing brand and content will not resonate with your current client. In order to continue to grow and maintain credibility, you should consider rebranding or at least shifting many brand components to better tell your story.

5. You are looking to grow and scale your business.

Have you ever heard the saying “what got you here will not get you there?”. While the efforts you’ve made to get your business to where it is today are applaudable, they will not be sufficient to help you grow and scale. You need every part of your business set up for the future, whether that means processes, procedures, workforce, sales, marketing or branding. Once you’ve decided where you want to go, look around and see what won’t serve you well, and make some changes or improvements.

6. You are feeling too trendy.

It isn’t unusual for certain phrases or styles and colours to become trendy within an industry. It makes sense, most financial services professionals are reading and engaging with the same content, authors, magazines etc, so the whole industry can often become homogenized. If you are finding that is the case in your industry, disrupt and stand out by rebranding your business. It can feel scary, but isn’t it always better to be an industry leader rather than one of the many sheep? We have more than one client who are trend setters, and it is definitely reflected in what they are able to charge, and in the types of high value clients with whom they work.

At REES + STAGER, we partner with tastemakers, ground breakers and changemakers across North America to help them elevate their brands and position them towards continued growth. If you’re ready to rebrand and take your business to that next level give us a call at 519-721-2248 or send us an email to get started.

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