Many business owners fear rebranding because it’s a complex and time-consuming process with unpredictable results. But rebranding is just a part of a company’s life cycle even the globally successful companies need to rebrand from time to time. The key to effective rebranding is recognizing the right timing to reinvent your brands.
And there are significant red flags you need to be aware of that clearly indicate that you need to consider rebranding and hiring professionals like Bahlr Media to get your business back on track.
Your Brand is Outdated
Your brand can be outdated in two ways. Your website may no longer be visually appealing or your customers’ preferences have changed. When it comes to your brand design, you need to know that customers always judge a book by its cover, and if your logo design isn’t trendy or attractive, they will lose interest in your offer.
Also, you may not be aware that your customers’ preferences have changed and this may be the reason why your brand is losing traction. You can conduct a survey to feel the pulse of your customers and find out if and how their preferences have changed. Then you can take steps and create a marketing strategy focusing on these changed preferences.
Your Target Audience is Wide-Ranged
Identifying a specific target audience that your brand wants to speak to is one of the first steps in creating a successful business. So when your target audience is too wide or they aren’t sure that they need your products or services, it’s time to think about rebranding.
The more specific your audience is the more successful your outreach can be. So narrow down your demographic until you have a clear idea of a buyer persona your brand speaks to.
Rebranding is a must if you want to change your demographic completely.
You’ve Changed Your Business Model, Product, or Services
One of the typical reasons for reinventing your brand is changing your business strategy or introducing a new set of services or products. Before you dive into the rebranding process you need to know why you’re doing it, making sure that you define your core values, critical goals, and what you need to do to achieve these goals.
Most importantly you need to know what your brand has to offer that sets you apart from the competition and to clearly show this difference to your target audience.
Your Brand Sends Off a Wrong or Negative Image to Your Target Audience
If you find out that the target audience relates your brand with a negative image or a feeling, you need to rebrand immediately, trying to change this perception permanently. Sometimes your brand image can become negative due to social circumstances that you can’t control.
This shift can be incited by a scandal or changed perception. Or it can be a result of poor marketing or bad business decisions. Whatever the case may be, rebranding should fix it and get your business back on track.