Your brand is your company’s most valuable asset. Why? Because your brand is your reputation in the marketplace. It is how your organization is perceived by your stakeholders (clients, employees & vendors). It makes sense, then, that rebranding is one of the soundest investments your organization can make.
How do you know when it’s time to rebrand your company?
Below is a list of the top 20 signs that point to the need for a rebrand. If you find that more than 2 of the items relate to your organization, your brand is probably in need of an update.
- Our brand name no longer reflects our company’s vision.
- We’re embarrassed to hand out our business cards or send perspective clients to our website.
- Our company is getting fewer leads than in the past.
- Our company’s growth has slowed or stopped.
- Our company is losing a high percentage of bid situations.
- Our competitive advantage is vague or poorly communicated.
- We’re struggling to charge premium prices for our products and services.
- Our service offerings have changed over time.
- We want to be more visible and connect to new audiences.
- We’re not attracting top talent for the positions we need to fill.
- Our company is struggling to retain our top employees.
- We’re undergoing or recently underwent a merger or acquisition.
- Our target audience has changed since we started our company.
- Our business model or strategy has changed.
- New competitors have entered our company’s market.
- Our company is entering a new market.
- Our business has outgrown its current brand.
- Our company’s logo, colors, fonts or graphics are outdated.
- Our employees are not on the same page as leadership.
- Our company wants to reach the next level.
Is your company in need of a rebrand?