The first thing to understand is that branding is the art of differentiation. Ever wonder why brands eventually hit a wall, and why they need to reinvent themselves? This is where branding comes in. This is the Top Ten Reason to Rebrand or Perish:
- Confusing or nonexistent existing brand image.
- Loss of market shares.
- The company is entering a new industry.
- Change in company mission, ideology, culture.
- Target segment becomes saturated.
- New associations are needed to generate growth.
- Aging target market.
- New technology makes product obsolete.
- Pressure from competition.
- The company would like to open up to new markets.
These are just some of the many reasons a company or individual may want to rebrand the company or themselves. A lot of my clients will ask me when will I know when to rebrand? I tell them, “You will know when your ready. It will hit you one day. Literally you will get up one day and see something you have around you with the company brand and it will hit you all at once. You’ll say to yourself, OK, it’s time to take this to another level.” Thats when you know you are ready. What you do next all depends on where you want to take the brand. Find a Design company like ours that listen to where you want to take the brand and look at the market and see where you can not only rebrand but re-market the company. All of that has to be considered and you need to make sure you ask a professional design company when you take this step because it will make or break your rebranding efforts.