15 Dec Is It Time to Rebrand?
The new year is the perfect time to rebrand your business. It is a fresh start not only for you, but for your business as well. But how do you know that rebranding is truly the right decision for your business this year? Ask yourself these four questions to gain clarity on whether it is time to rebrand.
1. Has your target demographic shifted or expanded?
Often times, your initial target demographic grows or shifts as your business becomes more established. As your clientele grows there is the chance that your image will need to grow with it. If you launched your business targeting a demographic of young entrepreneurs, but have since attracted middle aged professionals, then it may be time to polish your overall brand image to better suit the demographic you are now serving.
2. Is your current branding outdated or no longer relevant in your industry?
Industries are constantly changing, some quicker than others. If you are in a highly competitive market there is a chance that your branding can quickly become outdated or no longer relevant. It is important to not only be aware of trends in your market, but to also invest in creating a timeless brand image that will outlive the current market trends.
3. Are you looking to reach a new demographic?
Sometimes it is necessary to tap into a new demographic of potential clients in order to grow your business. If your original branding was directly targeting one demographic, but you have recently discovered potential in a larger or different demographic then consider investing in a new brand image that is more suitable for your new target audience.
4. Have your values changed or shifted over time?
It is not uncommon for brands to change or shift their values over time. There are several factors that can cause values to shift such as new ownership, expanding the target demographic, or a change in the economic/political climate. As your business grows and your values change it is important to consider what values your current branding conveys. If your existing brand image does not reflect your current values then it is important to consider how that could affect how your existing and potential clients perceive your business.
If you think it may be time to rebrand your business, send us an email to discuss how we can work with you to rebrand so you can focus on the details of your business in 2017!