Think Twice About Rebranding

Some small and medium-sized businesses have recently approached me regarding rebranding.

That's great. At least they are beginning to recognize the power of the brand. But I've discovered that they're thinking about it too simplistically.

Rebranding does not imply redesigning your brand's image.

It is often expensive.

Not only because of the financial costs but also the time costs.

It is not enough to only think about the logo, the website, and the packaging...

It is also linked to your marketing strategy, campaign management, social media style, brand language identity, etc.

And, of course, there are significant risks. Because rebranding can confuse brand recognition and undermine long-established trust.

So, when is the right time for rebranding?

Firstly, You must examine what has occurred or is occurring in your organization. Simultaneously, you must determine whether you are in a "problem-solving" or "opportunity-seizing" situation.

Secondly, "It's time to rebrand when you discover uncertainty or misalignment between how your core consumers perceive you and how you intend to be seen," says Danielle Kristine Toussaint, "or when it begins to feel that your present brand is no longer delivering the whole story and effect of your work."

It bears two meanings accepts:

One is you found yourself changed. For example, your brand's purpose or mission may have shifted. Or perhaps your business strategy has transformed, your products or services have evolved, or even your sector has changed.

Another one is you found your customers changed. For example, your customers' needs may have shifted, and you may discover that your original target group is no longer your core market. Or the market has changed as well; for example, new market trends force you to relocate to another region. Or, according to technology development, you have shifted to a new market niche. In these cases, you may have to say goodbye to your former customer base and shift your focus to larger or more mature markets.?

To summarize, having a clear goal is essential when contemplating rebranding.

The right rebranding may assist businesses in meeting their growth objectives while also strengthening their ties and relationships with stakeholders.

Remember that it is an investment with both risks and rewards.

It's like a door that can only be opened at the appropriate time to unleash the full force of a more powerful brand.

#branding #rebranding #brandstrategy