Innovation and transition are synonymous to operating a business. On one hand, there is the never-stagnant economy. While on the other, society can greatly influence what takes place within the walls of a business. If you are a business owner and have been for a while now, you know all this from firsthand experience. The reality is, no matter the cause, change is inevitable to maintain success. John Kotter, a professor at the Harvard Business School, summed this up, “The rate of change is not going to slow down anytime soon. If anything, competition in most industries will probably speed up even more in the next few decades.”
If change is only going to be more rapid, it stands to reason that staying ahead of the curve would benefit a company. Practically, this means identifying potential weak points in the company as it currently stands and making moves to strengthen those areas. In some cases, this can pertain to the public perception. If you are concerned that your current branding is in danger of becoming outdated, look at some of the clear signs that it’s time to rebrand your business.
Does your appearance match your goals?
Phillip Akhzar is the CEO of Arka, a brand offering eco-friendly custom packaging and sustainable boxes. He suggests contrasting what your company is putting forward into the world against the current internal ambitions.
“The longer your company has had its door open, the higher the likelihood that the vision it once held has shifted significantly. This is just the natural course of things. Culture changes alongside public demand and companies do something to meet needs. However, the messages you’re delivering to the public could have gotten lost in the shuffle of these changes. Is your motto or graphics the same as the were when your company had a different mindset or were interacting with different clientele? Think about adjusting these elements so they’re more reflective of what’s currently happening at your company.”
Everything feels bland
What may have once been innovative for the branding of a company may now seem to resemble that of a cookie cutter approach. AdQuick is a business providing billboards and out-of-home (OOH) advertising and attribution. Their VP of Marketing, Lina Miranda, advises being mindful of this.
“Trends, and specifically those related to the visual elements or message of a company’s brand, change about as frequently as the weather. What was once a breath of fresh air creatively for a brand, could easily become branding that looks just like the rest of their competition or even companies in entirely different industries. Business is in no way like high school where you want to fit in. In fact, standing out is highly desired. Therefore, if you’re seeing other corporate branding that has taken after you, it’s time to move on.”
Your target audience has changed
Insured Nomads specializes in providing advanced tech enabling protection for the future of work and travel. Their COO, Brett Estep, considers it necessary to evaluate the demographics of the current customer base.
“When a company first finds its footing, the reach they have is incredibly minimal and they truly only serve a few handfuls of people. But as time goes on and the company establishes itself further, the people who engage with it have more variety. Variety can mean many things but often, it causes a company to gear themselves to fill the needs of any newcomer as there is profit to be made. Any branding the company does from here on out should also serve to make people aware of these changes. If your product has changed and your branding hasn’t, you may want to shake things up.”
It’s not catchy
John Berry is the CEO and Managing Partner at Berry Law, a brand offering legal services to veterans. He cautions others to ensure their branding is as captivating as possible.
“Business branding is many things including essential, trying, and highly specific. That being said, there is something that should be, and this is not always the case – it should be catchy. Another way to view it is, you want your business to be memorable. Consumers know what certain corporate phrases refer to or even the sounds of specific advertisements. Things like this can be used to your favor. But, if your company currently uses dry, bare-bone branding, this should be your motivation to turn things around.”
Dips in effectiveness
The old saying goes, if it’s not broken, don’t fix it. However, just because something is operational does not mean it is practical. Diamond Mansion is a business providing customized and handcrafted engagement rings. Their CEO and Founder, Omid Semino, proposes taking this into consideration.
“A company that has been up and running for a substantial amount of time has solidified nearly every element of itself. They know what to do in the face of certain issues and the way they reach customers has proven effective. If something works whenever it’s used, it makes sense not to question it. But I urge anyone in charge of branding to take a second look at what’s going on under the hood per se. Dips in their effectiveness compared to past results should be a message to anyone that a rebranding is required.”
Fighting For You specializes in personal injury law. Their CMO, Max Schwartzapfel, believes whenever a noticeable development takes place within a company, those in charge should contemplate a rebrand.
“Down the line, there is no shortage of changes which can happen to a company that prompts a rebranding. Some people aren’t aware of this and that’s why you’ve found yourself confused by what exactly some companies do when you’ve encountered them. I’m talking about mergers, major leadership changes, or large changes in products, things along these lines. It seems obvious that such a massive adjustment in a company would be the jumping off point for a rebrand, but it just gets overlooked more than it should. Realistically, if any of these events take place, that should be the notification to start going over rebranding options.”
The list of clear signs that it’s time to rebrand does not stop here. There are more of them than one could possibly count. Conceptually, this could be incredibly overwhelming. But, the words of Dan Schawbel, the founder of Millennial Branding, should inspire, “Your personal brand serves as your best protection against business factors you can’t control.”
Interesting Related Article: “4 Tips for Rebranding Your Business After Covid-19“