A brand redesign can be an exciting endeavor, or it could be a panicked response to a mid-life-business crisis – we think we’d prefer the first one.
Many business owners can fall into the trap of believing their first brand will be their forever brand. After all, they did build it from scratch.
But getting attached to your brand’s identity may blind you to two of the most powerful forces in the business world: evolution and adaptation.
Especially if finding out your brand doesn’t quite work as well takes you by surprise.
So, here are four early warning signs that you may want to consider a brand redesign!
#1 You Want To Try Something New
Variety is the spice of life, and this rule is no different in the world of business & industry.
Most businesses will make their living on doing a few select services or products very well, most likely all in a similar niche.
If you wanted to branch out of this niche, your recurring customer base may not immediately take to any new product or service you’re offering, particularly if it’s in a different creative direction.
A brand redesign breathes fresh air into your business and can help any planned new service or product gain traction from day one, while also showing customers (new & old) that you are serious about your brand’s new direction.
#2 Your Market Space Has Become Oversaturated
When one business does something right (and we mean really does it right) it’s only a matter of – very short – time before every other business in the same industry begins to do it too.
This can very quickly lead to an oversaturated market, with plenty of advertising noise and many businesses looking alike. This in turn confuses potential customers and most importantly, detracts from the work that you are doing.
So many businesses these days will all claim to offer “award winning results” or “industry leading standards.”
What works quickly becomes overcrowded and could be the very thing holding you back.
A brand redesign is a way to shrug off this oversaturation: it signals to customers that your brand is committed to offering a different experience than just the status quo, and immediately sets you apart from the competition.
Oftentimes the most successful brands are those that challenge the norm and blaze their own trail – headed, of course, by a brand redesign.
#3 Your Brand Has Evolved But Some Things Haven’t
Becoming attached to certain parts of your business – whether it be a logo, slogan, product or software – can become a mistake if it becomes obsolete.
The team here at The A Firm have unfortunately seen some businesses go under, simply because the owners didn’t want to let go of a part of their business that simply wasn’t working any more.
In today’s fast-paced world, your business needs to be constantly evolving and adapting in order to meet market demand. It is unlikely that your business will look the same after 10, 5, or even 2 years anymore.
A brand redesign is a great way to get rid of the old and welcome in the new, and embrace the ever-changing nature of the business world.
#4 Your Audience Have Acquired A New Taste
Speaking of change, the first part of your business to grow restless without innovation is your customer base.
Apparel is a perfect example of this: if your brand were to sell the same shirt all year every year, then you very likely would not be in business for very long.
The same can be true of software: updates are constantly pushed out in the software world, to optimize, repair and improve processes.
If you are finding that recurring clients are dropping off, or you’re having trouble retaining long-term customers, it may be a sign that change is needed.
Redesign For Success
A brand redesign can be exceptionally powerful and successful for your brand – but it can also require a large financial investment.
Wondering if your business is in a position to redesign it’s brand? Talk to our financial experts at The A Firm today and we’ll ensure our bookkeepers can support the change! Call us today.