With a new year right around the corner, you might be wondering what 2025 has in store for your business. If you find your business growth is at a standstill, you may want to consider rebranding your business. While this may seem like a huge undertaking, it may be just what your company needs to stand out once again and reach your sales goals.
Let’s dive into what a rebrand entails and when you should rebrand your business:
When Should You Rebrand Your Business?
You may consider rebranding your business if you are experiencing any of the following:
When Your Brand Starts Feeling Outdated
While there are timeless brands, such as Coca-Cola and Campbell’s, even they have tweaked their branding to stand the test of time. For instance, Coca-Cola has played around with their packaging to meet modern consumer demands while Campbell’s recently dropped ‘soup’ from its corporate name to be more inclusive to its other foodlines.
You may find that your brand may need to make some tweaks or fully rebrand to keep up with the times. For instance, many coffee shops used to brand themselves as Internet cafés to draw in customers who needed high-speed Wi-Fi as they enjoyed a refreshment. Now that virtually every coffee shop has Wi-Fi, you need longer see this branding, since it seems outdated and from another time. In fact, some coffee shops are even removing Wi-Fi to cater to a target audience who wants real, face-to-face interactions.
The bottom line is to assess whether your brand is keeping up with the times or if it’s time for a complete rebrand or just a refresh.
When You Want to Change Your Target Audience
Abercrombie & Fitch is a classic case of rebranding to fit a different target audience. What once was a brand that catered to preppy teenagers now is geared toward working adults in their 20s and 30s — though it is interesting to note that these are the former teens Abercrombie used to sell to in the early 2000s.
If you feel that your business goals have changed or that you want to offer different products and services that no longer align with your target audience, it may be time for a rebrand. This is more common that you realize, and here are some examples:
- Apple moved away from tech enthusiasts to those who appreciate user-friendly tech.
- Old Spice shifted from advertising to older men to a younger audience through humorous and edgy ad campaigns.
- Lego used to target young boys but now has expanded to girls, adults, and collectors of all ages.
When You Want to Revamp Your Offerings
A rebrand might be a wise decision when you have some exciting new offerings coming down the pipeline. If you feel like these updates might get lost in your current branding, you might consider doing a launch of your revamped products or services at the same time you rebrand. This can create more hype to get your new branding off on the right foot.
When You’re Not Seeing Results
Maybe you’re just not seeing the revenue you envisioned when you started your business. What started off as a good idea may not be able to attract the customer base you need to operate and generate a profit. It’s okay to go back to the drawing board and consider new imagery, logos, messaging, and even brand values.
When You Lose Your Unique Value Proposition
As your specific market becomes more saturated, you might find that what once made your brand unique has been watered down by your competition. It might be time to try something new to cut through the noise and stand out again.
Tips to Successfully Rebrand Your Business
Follow these tips when rebranding your business:
- Update Your Market Research: When you feel ready for a rebrand, the first step is to redo your market research. Find out if your target audience makes sense and what they are looking for at this current moment in time.
- Look at Your Competitors: Take note on how your competition has or hasn’t rebranded over time. Did it work for them? Was it a flop? How can you do it differently/better?
- Analyze Emerging Trends: Rather than hopping on a trend that is already almost over, look ahead to what’s to come. Otherwise, you risk looking outdated before you even launch your new branding.
- Consider What Will Last: Likewise, try to choose branding that’ll last. You don’t want to do a full rebrand every year. Choose brand elements that are timeless or could easily be updated in the future.
- Consider Your Goals: Rebranding can be expensive and time consuming, so really determine if this is conducive to meeting your goals.
- Hire a Professional: The DIY approach can work, but only if you know what you’re doing. If you need some serious rebranding, consider hiring a professional for help.
Is a website redesign a part of your rebrand plan? Let us help you! Learn more here.
