5 signs it's time to rebrand your business.
One of the most common questions I hear is 'When do I rebrand my business'? The answer of course varies on many factors but I put together a list of signs that the time has come.
Your services/offerings have changed
The truth of the matter is businesses evolve. Especially if you are a creative entrepreneur the odds of your business changing over time practically double. Business all go through phases of discovery and growth. Often this times this leads to altering your services slightly or completely changing your focus completely. There is nothing wrong with realizing it's time to provide different services or offerings but just know it likely will mean it's time for a rebrand.
You are changing the name of your business
This is another common occurrence especially for businesses with 3 or fewer years under their belt. Starting a business can be super overwhelming at first and the to-do list seems ends list. So, sometimes you just don't get the name right the first time and you need something that better reflects your business currently. This is a sure fire way to know it's time for a rebrand.
Your target market/audience has changed
Your target market is the specific group of potential clients/consumers in which you are aiming your products or services. This is all about your consumer profile. Who is your customer/client? Where do they shop? How much do they make annually? Where do they live? Are they primarily male or female etc. Whatever the reason for wanting to reach a new market, whether it be to make more money or attract your ideal client, this will likely mean it's time for a rebrand. Remember your brand should tell a story and if it's not telling the right story, then you won't appeal to that new market you are trying to reach.
Your values/mission has changed
This is less about your client or offerings and more about you as a business. For example, maybe you used to have your products made overseas but now you are dedicated to providing jobs in your area. Or maybe your business wasn't focused on substainable materials or environmentally contious goods but now it is. These types of changes in priority or focus as a business could mean it's time to rebrand.
Last, but certainly not least. You have outgrown your current inexpensive/DIY solution
This is a common cause of rebrands if not for the reasons listed above. Maybe your market, offerings or name haven't changed but your current branding just isn't quite doing its job. You may have gone the cheap route or simply did it yourself the first go round' but your business has seen some success and you're ready to take it to the next level. You're ready for your brand to be intentional and start attracting your ideal client. Well, you guessed it! It's time for a rebrand.