Rebranding is a very beneficial process that a brand will go through when it’s ready to take the next step. Unfortunately, only a fraction of the brands today really understand the importance of a proper rebrand, whilst the others should begin doing so.
If your brand is having trouble against competitors, a rebrand could set you leaps and bounds beyond them- easily.
I’ve briefly covered how and when to rebrand, but I’d like to go into detail on why it’s important to undergo and plan a rebrand before your brand is ready to do so.
It’s A Firm Decision Where Action Is Mandatory
As we all know, people procrastinate- it’s a human quality that can really get in the way and usually does more harm than good. Ever hear of “too little, too late“? It happens all of the time in business.
Branding decisions are usually made by you (C-level executives, founders, or members of the Board of Directors), and just like everybody else, you can and will do your brand harm if you do not take action.
This is why it’s important to engage in a rebrand slightly before you (the decision maker) feel as though the time is right. It demands attention and change.
Also, by doing this, your company (internally) is pretty much forced to match your company’s external public identity. There’s no, “Maybe we’ll wait” or “The time will be right when…”- You’re just doing your brand a disservice. Act the moment you feel as though changes need to be made.
Is your brand evolving? Are your customers changing and requesting attention to certain aspects of your brand? Have your brand’s goals and visions altered? Rebrand, now.
Sink or Swim… Well, Adapt or Die
What happens if you don’t go with your gut and act immediately? Your brand’s perception doesn’t match its message or goals and things become askew.
Remember Abercrombie and Fitch? Years ago, they were doing very well and the brand had a bright future; however, they made the deathly decision of not adapting and closed 60 stores in August of 2016.
Sears and Payless- remember their prime? Well, they’re following suit. They won’t be around for much longer, so don’t think your brand has a brighter future if you’re following in their footsteps.
There are your options. Whether you own a personal brand or a multibillion-dollar company, always understand that competition is catching up whilst you remain idle. This is a topic I go over consistently with my clientele whom sometimes discuss changes 5-10 years in the future.
Decisions with this much weight are greatly underestimated and can mean the end of even the most successful global brands. Luckily, I cover and help brands dodge fatal errors on a regular basis.
If your brand maintains a steady figure and wishes to bring its identity and perception to unseen heights, get in touch with me here to schedule an appointment and see if your business qualifies.