Branding is an important aspect of business. Your brand can make your business grow or kill it entirely. Branding is the process where you create a unique name and image for your business. It’s all about what you want people to think of you and your company when they see the logo or here the name.
As your business grows, the brand you created will also change. So how do you know that the time has come for you to rebrand? Here are a few pointers.
Your business has no targets or goals.
When you first start off, you always set some goals. You decide what you want to achieve and in what time frame. But along the way, these goals change or are altered. When you see that you have no direction or no end game for your business, it’s time for you to rebrand. You need to rethink what your business, set new goals and adjust the brand image around them.
You need to implement your business plan
A business plan is what drives the business. It will help you know how to run things on a day to day basis and know what needs to be done at a specific time. Rebranding is needed when you get a new business plan that differs with the idea of the old one. You will need a new image to market the new ideas to your customers.
Your business fails the 3Cs test
Clarity, Consistency and Courtesy are key to managing a successful brand. If your business does not have them, it’s time for a change. You need to define who you are and what you stand for. Define it to the audience. Once you do that you should keep up a consistent presence. Be visible and courteous to your audience at all times. If you shift from this trend, a rebrand is needed. It will help you get the necessary staff in place to effect the changes.
When you diversify your product line
When you change your business portfolio, it’s time to rebrand. You will need to pick a new brand name and image that will encompass your new products. As your business grows and branches to different areas, rebranding will happen to let the public know about this and alert them of the changes.
Rebranding is not a decision to take lightly. You should engage experts in it and plan out what you really need the new brand to be all about. Once you do this, you can go ahead and make the changes.