When is the right time to rebrand?
What is exactly a brand? The company’s name and logo? Or a tagline?
No it is certainly more than that.
It is not just limited to a logo or a tagline.
So what exactly is a company’s brand?
It is the sum total of the consumer’s experience and the future prospects which are responsible to make the company a viable option in the future.
It is also about the trust and the credibility it is developed in one’s brand and also the kind of loyalty against the potential customers.
So when you should think it is time for a rebrand?
When the competition is getting cut throat-
When you know you cannot differentiate yourself from the competition. A generic logo is always a big no. Your logo or tagline should infuse Innovation and Marketing.
There are various Logo Makers and different tools which are available in the market so that you can create the best of the logos. There have been event the best of the companies which have changed the brand identity and it has always worked in their favour. For e.g.-Google, Accenture.
When you want to change the demographic map of the company-
Sometimes to remain in the upward flow, there are times you have to stay in the loop and change the gears. It becomes very necessary to change the demographics of the business so that the work does not get affected.
At such times, branding comes in hand to change how your product is perceived.
You will however, need time to research for a new market or to cash in on another demographic if need be. This is also when a Website Design is important and you need to change it whenever the need be.
When the market is evolving quickly and faster than you expect-
Market changes fast and rapidly. It may happen that what works in one content does not and will not work in another and so you will have to drastically change your branding strategy.
The best example of this is the Microsoft which has surpassed the competition and many of them have considered them as a long lasting feature of competition.
SO in a nutshell, why you should rebrand your company?
1. Changing audience
2. Changing competition
3. Work on the total brand appeal
4. Check on your digital marketing statistics