Your brand represents the principles and values that your company was founded on. No business can afford to not have a brand. Your business might be keeping up with the current trends but is your brand keeping up?
How do you know if you need to rebrand? Well heres a couple of points. The business rebrand is a lot more than just making your business look good. You're rebranding to make sure you cover these factors; brand awareness, market differentiation, usage, preference, emotional connectivity and more.
1. Gain competitive advantage
Your brand is the face of your business, its your companies personality. A properly executed rebrand allows your company to reflect the current market dynamics and gain a massive advantage over your competitors. It will push your company in the direction of being a leading voice in the industry.
2. Stimulate growth
Rebranding can help you cater more efficiently to your current customers demands. Many businesses will operate in complex crowded markets and don't really know how to make a statement that makes them stand out.
Many businesses operate and grow for years without touching their brand and customers will come and go too. The thing is though they keep coming back to see whats changed and to find new things but if you're the exact same as you were a few years ago nothing will really stand out.
Consistently keeping up with the trends and developing your brand will give you the right tools you need to grow.
3. Long-term market expansion
A rebrand can become a big public expression! Rebrands generally tell you that the company isn't scared of change and their growing! Businesses that fail to develop their brand cripple themselves.
4. Innovation = profitability
Remember your brand is the face and personality of your business. If it fails to reflect the innovations your business has achieved your customers won't have a clue about them. They'll think you've fallen behind. Competitors who are constantly rebranding their products and services will have a big one up on you. They might not even have your strengths but will outperform you based on reputation.
Rebranding is generally a good idea. If you have just started thinking about it, chances are its time to rebrand anyways. Don't be scared of change. Not only can rebranding help towards getting sales it can be a great tool for sprucing up new ideas in the office. It gives staff the chance to get involved in creating a new, positive business culture. This really isn't a reason to solely rebrand though but its a nice extra. We highly recommend checking out Pearlfisher - http://www.pearlfisher.com/.