1. You are going unnoticed
Declining sales? Lack of interest? Lack of engagement? Whatever the case, these undesirable effects can slowly eat away at your overall strength in the market – whatever market that may be.
A refresh for your brand can be as subtle as switching up your logo, to launching new colour schemes and modern marketing materials. Each business can customize their own approach to a refresh – be it minor, or a full-blown rebrand, but one of your objectives will be to regain some attention that you may have lost. Remember that girl in high school who faded into the crowd, and then she came to school one day with fire-red hair? Well, be it good or bad, she got noticed. In order to succeed, you
need to be noticed. It’s not the key to all successes of a business, but it is a very important starting point.
2. You are getting lost in the market
Similar but different than the first reason, here we’re talking about your brand fighting for a place in a super-competitive market. We could be talking about a restaurant in a small city; a real estate agent; a company that sells t-shirts. In any case, refreshing your brand is an opportunity to stand out from the crowd. Your objective is to be a little different; a little forward-thinking; a little experimental, and to separate from the pack.
3. Your business has changed
Your business today may be vastly different than when it began. You may have added new business lines, new product offerings, or new partnerships. This is an ideal time to reconnect with your audience, refresh your brand, and clearly communicate what it is that you do. This is also a great time to generate some buzz around your new incarnation.
4. You want to attract new customers
Whether you are trying to attract an older audience, a younger audience, or an entirely new audience, a change to your branding can be a great opportunity to connect. Changes to logo, colours, etc. can be a perfect first step to draw your new target audience closer to you.
5. Your branding is inconsistent
Over time, your brand can suffer from dilution. This is especially common in larger companies, with multiple business lines, where departments may have a certain degree of autonomy (or think that they do) to create their own sales and marketing materials. After a while, your overall brand gets weaker, as slightly-altered business materials start to circulate. A rebrand – or brand refresh is an idea way to pull on the reins, and bring everything back to square one. This can be a large undertaking, but will bring consistency to your brand – and consistency or brand equals strength of brand.
Make sure your brand is as strong and efficient as it can be.