Developing a brand is something a lot of small businesses struggle with. But even after your brand has been developed, you’re never quite finished. The brand you created when you first started your company most likely won’t be the same brand 5 years down the road. Just like people, brands mature with age. They are subject to trends and evolve with the times—or at least they should, since those who don’t are often forgotten.
So, how do you know when your brand has gone stale? These five signs will help you figure out if now is the right time to rebrand.
Declining Sales and Market Share
An obvious sign that you need to rebrand is a steady decline in sales or drop in market share. While it’s possible that these are symptoms of a different problem, brand opinion and brand loyalty should be taken into account. Always be sure that your products and services are living up to the value your brand promises. When customers start losing trust in your brand, that’s when you know there needs to be some serious change.
Another sign of brand degradation is an outdated logo. These symbols carry immense value for a company. Logos are often the first interaction customers have with your business. They have the power to permanently cement your brand in the minds of consumers. It’s crucial for your logo to be easily recognizable and associated with your brand.
Most companies that have been around a while already have a logo that they’ve become attached to. Oftentimes, all that’s really needed is a revamp to modernize the logo. Google and MasterCard are two excellent examples of this.
In the case of MasterCard, you can see that they went with an entirely new logo during their first rebranding but still held onto the lowercase interbank icon. This was most likely taken as a precaution so that their customers would know that they were still the same company. But during their second rebranding they lost the icon entirely.
Business Insider has a great list of huge companies whose logos were changed drastically since their founding.
Your company’s website is a primary extension of its brand. An outdated website can make you look behind the times and diminish your brand’s credibility. Providing customers with a great online experience is critical to growing and maintaining an online presence.
If you’re a company that primarily deals in products, then you know how important your packaging is. How a product is packaged can make all the difference to customers when they’re comparing you to other products on the shelf. Implementing new, creative packaging can elevate the appeal of your brand and products.
You’re Marketing Isn’t Working Anymore
Failed marketing campaigns can be caused by many different issues. But when campaigns begin failing on a constant basis, that’s when you need to consider if it’s your brand that’s the problem. A bad brand is like a plague. No amount of marketing is going to help you when people either don’t trust or like you. So, if you’re marketing has taken a dive, it’s time to take a hard look at your brand and see what needs fixing.
About Barta Media Group — Barta Media Group is a marketing and branding company that specializes in custom web design and development. Our in-house team of brand experts, marketers, developers, and designers work together to deliver outstanding results.