How can you tell if your brand is overdue for a refresh? There are many reasons companies put off rebranding: it seems too costly or difficult, you don’t want to affect your brand recognition, or as a busy business owner it’s simply been a long time since you gave your brand identity much thought.
Regularly checking in on your brand is so important – after all, it goes to the core of how existing and potential customers see you. Here are three reasons why it might be time to consider a rebrand, and how to get started.
1. Shifting from the industrial economy to the new economy
In the past, many companies claimed to be “the best in the world” because they were leading the market with the best products at the lowest production costs – the well-known industrial economy model. The industrial economy’s legacy is a world full of rubbish, environmental destruction, and mental health issues at levels never seen before. These legacies are built on foundations of the past, and now damage a company’s brand in a world that has changed so much.
On the other hand, we are now seeing new startups and businesses standing for a better tomorrow. We are going towards a New Economy where companies are clean, light, and native to technology. What we used to call successful business models in the past don’t work anymore. And the same happens to Brands.
In some cases, “clean companies” start growing by buying older organizations, sometimes they have to deal with a confusing and negative legacy. If they don’t manage it the right way, it can greatly disrupt their brands.
2. Matching company and brand evolution
For this understanding to be effective and positive, it is necessary to put energy into the process and make the Brand’s change narrative evident, which goes far beyond a pretty logo. This needs to be done with great professionalism, to make sure your brand identity remains strong.
3. Unclear Brand Identity
The point of a brand is to express something unique and meaningful about the business. A brand is in the eye of the beholder. Business names and brand visuals can be interpreted in different ways by different people. Software such as Canva, Crello, or Prezzi can be a helpful tool for new businesses starting off with zero or very low budgets. However, this is a risk. A brand that lacks strategy and sufficient professionalism can impact the success of a new business launch, or have unforeseen impacts in the long term.
Many companies get lost in a bunch of options – they bet, they take a risk. Of course, some risks pay off, but lack of Brand clarity is one reason startups fail.
Getting set up with the right brand positioning will support your business, putting you on the right path as you navigate your growth journey. It’s the same logic as a good investment; buying a cheap but incomplete product is a false economy since it will soon need replacement, costing twice as much as investing in a strong brand from the beginning.
To succeed in business, you need both great operations and a powerful Brand. The world has changed so much and your Brand needs to represent the legacy you will leave for the generations to come. This is surely the ultimate reward!
