When Is the Right Time for Rebranding?
Rebranding is a common business practice that many major companies have been practicing for years. Many at times as the consumers of the brand we might not be able to notice the changes made unless it is major makeovers. A good example of a company in Kenya that has done a major rebrand is Orange Telekom to Telekom.
The brand that you have developed is the core identity of your business: a collection of all the values, ideals, characteristics and the personality traits of your company reduced to a single set of recognizable standards. Brands at times go through crises, it mostly during these times that many tend to rebrand to be able to reinvent themselves.
The following are some of the telltale signs that your brand is probably ready for an update:
Failure to differentiate yourself from Competition
Branding is all about having a competitive advantage over your competitors. When you realize that, your brand seems to disappear in the sea of many competitors it is time to think about rebranding. You need to have brand that is unique and stands out.
A great brand communicates a definite message to your current customers, potential customers, and just visitors. You need to have a brand that attracts people to your brand and keeps them always coming back. If you also have a products/services that no longer appeal to the market it would be high time to shelve and identify which new ones to incorporate
Old image is obsolete
You could be in need of a rebrand simply because your old image is obsolete. Design trends change quickly, and in the span of a decade or two, the fonts, colors and shapes that seemed cool at the time could be laughed at in the modern era as nostalgic leftovers.
Targeting a New Demography
An effective brand created is one that was developed specifically for a specific target audience; this helps a brand become more relevant. Once you set a target audience for your brand you need to be able to evolve along the same lines. A brand that targeted towards young men will not be appealing to middle aged women.