The marketplace is ever-changing and it's crucial for your brand to stay up to date with the changes. Rebranding is one way for a business to evolve and create an improved image while remaining true to their initial vision.
How do you know if your company needs that brand boost? Recognizing when it’s time to dust off the old and bring in some new ideas may seem difficult, but there are several signs to look for. Your target market might change or become uninterested, you may acquire new products that need more recognition through your brand, you may have to adapt to new competitors in the market, or perhaps it is simply time for a facelift. Whether you fit into one or more of these categories, it’s time to face the fact that your brand may need a revamp.
According to Entrepreneur, on average, organizations change their corporate identities once every 7 to 10 years. Although rebranding can be intimidating, many companies have paved the path for a successful rebrand.
One of the world’s most recognizable brands has faced a total of three rebrandings in their time. The bitten apple. Apple didn’t always have this famous logo, in fact, before the bitten apple it was an image of Isaac Newton sitting under an apple tree with a quote that read, “Newton… a mind forever voyaging through strange seas of thought.”
We all know that didn’t last long. Steve Jobs believed the logo was too old-fashioned and hired a graphic designer by the name of Rob Janoff to create the new and world-renowned bitten apple logo.
At first, the apple had a rainbow spectrum filling the image to illustrate Apple’s invention of the world’s first computer with a color display. According to Think Marketing, the colorful Apple logo was used for 22 years before Jobs wanted to replace it with a more modern look. So, the rainbow spectrum apple changed into a monochrome black apple.
The overall shape of the logo has remained the same ever since, with minor color updates. As you can see, even the best of the best need brand alterations at some point.
Don’t let your company fall behind. If you’re wondering if your business needs to rebrand, here are some simple questions to ask yourself:
Has your brand lost its wow factor?
If your brand isn’t bringing in the revenue it once did, it might be because your vision is no longer as captivating as it once was. Differentiation in the marketplace is important. If your brand isn’t recognizable by the vast majority or doesn’t stand out from your competitors, then it’s missing the wow factor it needs to survive. No one likes to be boring, so don’t let yourself fade into the background - it’s time to be seen.
Is your branding in line with your company’s vision and mission?
A logo is more than a name. It’s your company’s vision and mission, and you want it to tell the right story. One thing that can differentiate your brand from others is clearly representing the heart of your company in the logo. If people don’t recognize your company’s characteristics through branding, they may overlook it or be more attracted to another brand. Showcasing your company’s values is an imperative part of brand recognition. So, don’t be afraid to show your personality and give your brand the image it deserves.
Are you up-to-date with the current market trends?
Markets are constantly changing, and it’s important to stay up-to-date with what’s new. If your company starts to fall behind in current trends, people may become uninterested. If your company is last to catch on to a hot trend, you lack what other competitors can offer and will fall behind. It’s crucial to understand and monitor the trends in your respective market. If you want to stay afloat, you have to stay relevant.
Has your business changed?
If you are bringing in new products that aren’t reflected in your branding, it’s time to put those products in the spotlight. By shedding light on new and exciting updates, it can attract new customers while staying relevant to old customers.
McDonald’s never had a big selection of healthy options and was often blamed for making Americans fat. They craved a need for reputation change and brought in healthy choices, such as salads and heavily promoted these along with their traditional menu. By making their image more clean, modern and inviting, they attracted a new customer base, those who previously never considered McDonald’s.
Here at Inner Spark, we love making sure your story is heard. As a brand, it's important to emphasize who you are and what you do constantly and consistently. You need to take control of your narrative before someone else does. This is where we come in!
Contact us today to set up your free initial consultation.