Rebranding your business can be a daunting process, especially if you’ve been in business for some time. However, it is important to rebrand every once in a while as it helps to refresh your business and can help you stand out from the crowd. There are a few telltale signs that you might need a rebrand, and they are listed below.
You’re embarrassed to hand out your website address
If you tense up just a little when forwarding your website to your potential clients or friends, it’s probably time for a rebrand.
After all, if you’re embarrassed about your brand, others in your company may be as well, which can significantly impact both external marketing and internal morale.
Being ashamed of the name does not necessarily necessitate a complete rebrand. It’s possible that the brand’s visual and/or verbal personalities actually need to be updated.
Another thing to ask yourself is that is your website responsive and mobile-friendly?
A responsive website does not necessarily require repetitive scrolling, zooming, or other maneuvering to be seen on various platforms. The simplest way to verify this is to open your site on your mobile. Will you be disappointed if this was your first time visiting? Is there something wrong with the way popups close, ties open, or other logistics? How do pictures appear?
Your target demographic have changed over the time
Maybe you have transitioned from assisting small companies to now focusing on big, multinational firms. When your target demographic shifts, you must refresh your brand to help your current ideal client resonate. Pay attention to the meetings you have with potential clients.
Additionally, discuss the most popular questions (and objections) that your leads raise with your sales team. It’s time to reconsider your brand identity if it generates an impression that doesn’t accurately reflect what you do.
You’re struggling to raise your prices
When you’re struggling to lift your prices, it’s a hint that it’s time to rebrand. A rebrand may be an efficient way to break free if the selling price for the goods or services is hopelessly set amid increasing costs.
Since the importance of your offerings is ingrained in the minds of those you represent, brands inevitably come down to consumer experience. Rebranding gives you the ability to redefine the emphasis consumers put on your products—and accordingly increase the asking price.
According to studies, strong brands are more lucrative, generate more value, and trade at higher multiples.
When’s the last time you really looked at your brand? Is it time for an update?
