7 Things News • August 8th , 2019
Just last month I was approached about doing a re brand for a client, now you might wonder why businesses look to re-brand, but it is not uncommon and there is always a good reason for it.
Many well-known brands like Coca-Cola, McDonalds, Apple, Nike and Volkswagen have all gone through subtle or large change to appeal to modern standards. Simply wanting to keep up to date is one of the biggest motivations for re-branding.
1 – You have outgrown your identity
You may have outgrown your current brand due to sudden changes in the market and you’re ready to take your business to the next step. To compete at a higher level on a more competitive scale, it’s often necessary to leave your old brand behind.
2 – Your business model or strategy has changed
When you set up your company you had a short-term plan which helped to establish your company and the original logo has served you well. To take your business to the next level you have noticed that you are now targeting an emerging market. This is a good sign to make the change and be proactive before your competition makes the first move.
3 – You’re failing to differentiate yourself from the competition
The key point of branding is to differentiate yourself from your competitors. If you feel your brand is like your competitors, then why not mix things up. Re-positioning yourself in the market can make your brand stronger and give you a unique point of difference.
4 – You need to disassociate your brand from a negative image
It doesn’t take much these days for an innocent word or concept in your logo to take on negative connotations. Just recently in Canberra there was a company that had been running for over 30 years with an acronym, (ISIS) a few years ago they re-branded back to a more traditional name for their business. Re-branding is the easiest and most effective way to move away from any misconceptions in the marketplace.
5 – A new competitor is impacting your business
Often, we see new competitors pop into the marketplace and they directly appeal to a small part of your business. They have seen an opportunity that you haven’t been servicing and they present a new challenge. These new competitors will often target an emerging market; therefore, your brand might need to appeal to this new market as well.
6 – Evolution/Transformation
Your business might be moving away from the main product that got you off the ground. With technological advances your products or services may have changed therefore your brand might not reflect your current key offerings.
7 – You are reading this article
You may have been thinking of a re-brand and that is a sure sign that it is probably time. Re-branding needs to be done with a focused strategy in mind. What is the main purpose of the re-brand? Who are you targeting? What are the potential consequences? Is the re-brand measurable? These are questions that My Graphics Guy would be happy to discuss with you to prepare you for a potential re-brand.