Well-designed and appealing branding is a crucial attribute for all businesses. An excellent example of this is Coca-Cola. Their famous red and white logo is recognized by 94% of the world’s population. Something like this doesn’t just happen out of luck, as research, color emotions, and target audience plays a massive role in this.
However, achieving such an establishment worldwide didn’t occur from their original branding. From the years 1892 and 2021, they rebranded a total of eleven times. This was to ensure they’re moving forward with time, the consumers, and its competition.
But, when’s the best time for a rebrand, and why should you consider it? Below we answer these questions to ensure optimal success for your business.
4 Signs you’re ready for a rebrand
Rebranding a business is a difficult decision. Of course, some rebrands are highly successful, but you must also account for those that aren’t. That leads us to this one crucial question. Are you ready for a rebrand? Below are some suggestions that your business should consider a new branding strategy:
Photo by @alexbemore
1. You’re not attracting the correct target audience
At the start of every business plan, you identify your ideal target audience to sell goods or services to. Based on these findings, the likelihood of you establishing your branding around that audience is remarkably high.
But what if you don’t get this “ideal” audience correct the first time around? Maybe, they’re the right audience, but the price point isn’t for them, the target audience is too large and you need to target sub-markets, or you’ve ultimately got the wrong idea of your audience. Whatever the reason, rebranding is a superb way of revaluating your target audience and designing a brand more suited to them.
2. The brand doesn’t stand out enough
Another sign your business is ready for a rebrand is that it doesn’t stand out enough. If your branding is too similar to others in the industry, it’ll want to be adapted into something more appealing for your target audience.
It’s imperative to create branding that differentiates your business from your competitors. To better understand this, let’s take the water industry as an example. All companies within the industry sell the same product, which is water. But why do some water companies earn more revenue than others? It’s because of branding.
Because all companies in the water industry sell the same product, they need to create innovative branding that triggers an impulsive buy. Water hierarchies like Fiji, Just Water, and Smart Water have implemented branding superbly by making their product seem more than just water.
Therefore, you may want to consider a rebranding strategy if you don’t have the design edge over your competitors.
Photo by @tjump
3. You’ve changed the businesses goals
Additionally to the above, you may have changed your business’s goals. This type of situation can occur from several scenarios. You may have discovered better opportunities, found something out about the industry you dislike, or just don’t want to be involved with this type of business. The reasons for this arising can be never-ending, but you’ll want to consider a rebrand if you wish for a successful start with your new business goals.
However, be sure that the new goals are something you’re going to stick with. We saw masses of companies change their product range to personal protective equipment (PPE), like masks during the pandemic’s peak. Although they rebranded and made a high return on investment, this business period only lasted around six months. Afterward, PPE equipment became easily accessible, inexpensive, and something you could purchase at your local supermarket.
4. The current branding is outdated and not consistent
This happens to many companies that don’t have branding designed by professionals. Ensuring you’re keeping up with the market is remarkably important. However, consistency even more. According to various studies, consistent branding can increase revenue by 33%. It’s a tremendous amount and something all brands should be aiming for within their logos, typography, themes, etc.
From the above, you should understand when it’s the best time to rebrand. Although there isn’t a physical timescale, your business will undoubtedly show signs that rebranding needs to happen. The thought of rebranding is excellent, but it takes a lot of time. Therefore, let’s discuss how rebranding can help your business before taking on the initial design stage.
Can rebranding help your business?
If your business needs revitalizing, then rebranding can undoubtedly help you. To gain a better insight into some of the advantages of upgrading your brand, see below:
Brand recognition is everything. Well, if it’s for the right reasons, of course. However, rebranding your business can help improve recognition, especially if you use dull colors. Colors are spectacular, and making your brand more colorful can provide you with some tremendous benefits.
This is because colors trigger emotions, which aren’t apparent to the eye. For example, yellow provides the feeling of optimism, clarity, warmth, whereas red offers excitement, youthful and boldness. By including colors within your brand, it’s known that you increase brand recognition up to 80%.
For a business to thrive, you need to increase its overall revenue each year. You can hire more staff, make better decisions, invest in different sub-topics, or ensure your brand shows consistency in its branding and marketing materials. This is because several studies show that brand consistency can increase revenue by 33%.
The reason for this comes down to trust. When customers understand your brand and can quickly identify it through branding, they can develop confidence much faster. To ensure your branding is consistent, guarantee that all your social media posts, logos, packaging, advertisements, etc, follow strict brand guidelines. By doing this, you’ll notice an increase in revenue and a much more organized business.
Additionally, you may also gain more engagement from new customers. Many customers have their own needs and requirements when it comes to selecting a company. For instance, some people may look for trustworthiness, others confidence, or authority. But, when people are asked about the essential attributes for a company, 29% of them put creativity as the most significant.
Therefore, if you’re transforming a dull, boring, and non-competitive type of branding into something creative, then you can expect much more engagement from individuals that seek this attribute.
The reasons why you should consider upgrading your branding are endless, and the above just outlines a small minority. After all, it’s a common practice which many well-established businesses already do.
How can Bright Design Studio Help?
After reading the above, if you fit into the rebranding category, I’m sure you’re eager to start developing a new branding strategy. But this time, you want to implement this correctly, and that’s where Bright Design Studios can step in.
We’re the best digital branding service in Shanghai, and we’re able to create utterly bespoke branding, marketing content, and design management to ensure your business is a success. To become more knowledgeable on how we can help you with your rebranding, see the below:
When thinking about your branding design, you’ll want to ensure you have a specialized team highly focused on creating goal-specific and high-quality content behind you. This way, business goals can be incorporated into the branding of your business. Achieving this will ensure your branding speaks for itself and people receive the correct representation of your brand.
Although using specific colors can help people identify your brand and make them feel certain emotions, that’s only half of the process. You’ll want content writing designed around your brand within your marketing content, webpages, emails, etc.Here, you can set a tone for your business and successfully be consistent with it throughout. As mentioned previously, keeping consistency can massively enhance your total revenue.
Videos, images, and gifs are superb to use within your business, but typography is more powerful than them all. Along with our content writing services, we can build unique and entirely customizable typography to engage your viewers further.
This offers you a whole new meaning of flexible design. Here you can really make your business stand out from the rest by creating a font that isn’t accessible anywhere else.
The above are excellent services designed to make your rebranding a more leisurely journey. However, to conclude this all together, we offer UI design also. Website layouts and designs are essential to ensure customer engagement, ease of accessibility, and speed. To guarantee your website isn’t going to be something decreasing your sales, you can opt-in for our 100% customizable UI design tailored to your requirements.
After reading, I’m sure you’re able to grasp the idea of when the best time for a rebrand is. Although there isn’t a specific timeframe, you’ll certainly know when your business is ready. If you want help with rebranding, you should contact us regarding our design management service. Here, you can express your branding ideas, and we can develop the ideas into a genuine concept.