When we are struggling with our business, and it's not taking off for whatever reason, we can feel a temptation to rip it all up, burn the embers, and start all over again. In essence, rebranding is one of those last-ditch attempts to save a business. Or is this actually the case? Is rebranding giving your business a new lease of life? So, with this in mind, will rebranding actually help your business?
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Will It Solve The Problems?
Let's look at the practicalities. Rebranding a business is costly. It also takes a lot of time. But while you can bring in an agency to do it for you this and take some of the pressure off, is rebranding going to solve the issue that you're having? Will a change of image help you to shed the skin of your past? But when you change the image, it's not necessarily going to make the business better. There are many exceptions to the rule, Saverio Pugliese the co-founder of Skinny Cow underwent a rebranding with his partner, and it became a completely different entity but you need to look at if rebranding is going to solve the problems that you've got. A rebranding can help you sell new products, or merge with another company, but if it's not coming from a place of necessary change, you may find yourself repeating the same patterns.
Is Now The Right Time?
Timing is everything, and if you feel that the brand image is depleting, or there are some aspects that are stuck in the past, there are things you can do to bring your current business into the present, whether this is something as simple as starting a blog, or making a few design alterations. If your business struggles to come into the modern world, especially if it's been stuck with a few antiquated notions, a complete rebranding and change of name can help, not just to capitalize on the current market, but also appeal to a new one. Sometimes, our name can suffer a lot of negative press, and as such, it's essential to make changes, because it is, in effect, starting again. But if your target market isn't big enough anymore, and you need new demographics, a change in dynamic can mean a whole shake-up of the business inside and out. And you can use this as a stepping stone to starting all over again, perhaps by altering the internal culture of the business. But make sure you do it at the right time, and when it feels right.
Will It Change You?
Sometimes a re-branding is the perfect way to make drastic alterations to every single component of the company, and it's this forward-thinking that can propel us into a new and exciting time for the company. But it's important to remember that when you do a rebranding, that you don't stick to the old attitudes. As such, you have got to let the rebranding change your way of thinking. And if you are sticking to your guns and embodying all the characteristics, will a rebranding actually suit you?
A rebrand is costly and can take a lot of time, and it can also be the worst thing that happens to you. But, for some, it can be the best way to shake off the shackles of a bad company name.