Ever feel as though your clothing is becoming a little snug? Perhaps you look into the mirror and say to yourself, “I could really use a style upgrade.”  

Well, your business brand is no different. Whether it’s evolved to the point where it needs to expand to reach a new demographic or it’s outdated and needs new life, every brand, at some point, will have to redefine itself. 

Rebranding is far more than just a new logo. You need to be thinking bigger, like, “How can I change my business behavior?”

The value of a rebrand as a long-term investment is carried out by brand metrics which measure your:

• Brand promise: Your brand promise is more than simply expressing who you are. Through your brand promise, you’re basically showing your audience what they can expect from your business in exchange for their time and money.

• Brand attributes: These are the emotional and functional associations that customers assign to a brand. They’re the basic components for forming a brand identity.

• Brand equity: You can measure your brand equity across various traits, such as brand loyalty, brand awareness or perceived quality.

• Brand management: This is the process of enhancing the perception your audience has of your brand by managing your brand reputation in way that builds brand equity, awareness and loyalty. Basically, branding is where you build your brand; brand management would be where you monitor and manage it.

Rebranding can infuse your marketing efforts with vigor and relevance. It can help you reach new audiences, separate you from the competition and attract top industry talent. It can even allow you to raise your prices on your products or services.

Your next question is likely, “How do I know if I need a rebrand?”

That’s a good question — here are some signs it’s time for a change.

1. Your Market is too Broad

Can you clearly articulate your market? If it’s too broad — I’m in the retail clothing business — then you may need to rebrand. 

There are many types of clothing — men, women, children, designer, etc. If it’s too vague — I’m in the service business — then you may need to rebrand. Again, you have banking services, cleaning services, insurance, transportation services and more.

Good marketing branding is one that guides and focuses your marketing strategy. For example, my company targets small business owners who have been in business for less than three years. Why did I choose three years? Because the first three years are the business’s most formative years.

2. You’re Not Clearly Communicating your Value

Can you clearly communicate the value you can provide your customers that your competitors can’t? And, not just communicate through words, but through your actions. Keep in mind, your brand is the compounding interest of consistent accumulated behavior. It’s the actions you take consistently that live up to your brand promise.

If you’re competing on price alone and winning new business by handing out discounts, you might want to relook at your brand and the type of value your brand can provide.

When it’s all said and done, branding is about competitive differentiation. If your brand is floating in an ocean of marketplace sameness, it might be time to rock the boat a bit. You can make your brand rapidly more visible to an audience searching for unique solutions by repositioning and presenting your unique value propositions.

Because there’s millions, maybe even billions, of businesses trying to step over the crowd and make a name for themselves, it’s crucial you have a strong brand to differentiate yourself from your competitors.

3. Your Brand Aesthetic is Lacking

Is your brand aesthetic appealing? Are you proud of your brand and have no problem showing it off to others? Is it modern and of this time? If you answer no to any of these, you need to rebrand.

With digital media becoming more prevalent, there’s a whole new look to branding. Gone are the days when your name, logo, motto and look are seen mainly on a print brochure or storefront. Now, you have a wide range of marketing opportunities (website, blogs, social media, etc. )and you’ll need to fit your aesthetic in.

You’ll want to keep this in mind when you’re choosing elements like shapes and color. If your audience spends a lot of time on your website, you may want to use colors that are a bit easier on the eye. White space, edges and other classic design problems come even more into play when you take social media placements and banner sizes into account. 

So, think — how will my audience be interacting with my brand online? How will I want them to feel each time they interact?

4. When the Market is Quickly Evolving

In some cases, you need to rebrand just to keep your business competitive in an evolving and ever-changing market. Often times, companies that could be top notch, end up getting left behind because their brand doesn’t embrace with the cutting edge. Do you recall the Mac vs. PC ad campaigns? Microsoft and other companies have done a good job keeping up and maybe even surpassing their competition these days, however, because of Apple’s brilliant branding, PCs, for a time, were thought by many to be lagging behind.

 5. Not Having a Clear Brand Script

Your brand script is your guide that helps you create new marketing materials. It defines:

• The needs of your customers

• Their problems

• How you can solve them with a clear and defined plan

• What success looks like to your customers

Most marketing is too complicated for individual’s brains. The brain focuses mostly on helping the individual get ahead in life. Where brands fail the most is they don’t focus their marketing offers to help individuals thrive or survive. This is where a “brand story” brand script would come into play. And, stories are all about some form of survival — emotional, physical, spiritual and relational.

So, you’ll want to plan out your company’s story by asking three crucial questions:

• What does my main character (your customer) want?

• What’s keeping them from what they want?

• What will their life look like if they don’t or do get what they want?

Within five seconds of seeing your marketing materials, your customer should know what you offer, know how it will make their life better and know what they need to do to purchase it. 

6. You’re Playing Hero and Not Being a Guide

Don’t assume your customers will know how your business will better their lives. You have to tell them. Better yet, you have to guide them. Don’t make your customers work to determine how they’ll benefit from what you’re providing. 

Identify their problems and provide the solution.

But, be the guide, not the hero. Your customers are the heroes and they’re looking for a guide. Many brands make the huge mistake of not positioning themselves as a guide, but rather as a hero. But, customers want authority; they want a “been there, done that” guide. 

Not only does your brand need to show authority, but it should show empathy as well. Empathy creates trust. You, being the guide, should understand your customers’ frustration and pain. Then, be empathetic in your marketing. Use empathetic statements like, “We care about you.” “We know how it feels.” “We understand how frustrating it can be.”

Do everything in your power to keep your brand consistent with your brand promise and the value it associates itself with. We are all bombarded with advertising, and because of this, people are generally pretty good at identifying a brand that’s not authentic. 

The relationship you’re trying to build through your story can be completely compromised if your audience feels you have violated their trust. Therefore, when you promise something, live up to that promise. When your brand embraces a value, be sure you’re not contradicting that value, because that along with inconsistent behavior, can lead to loss of trust, loss of interest and loss of customers.

Demonstrate why your values are important and make them a part of your brand’s story. Be consistent with your marketing message in all your marketing avenues. This will help you stand out from the crowd and be seen as authentic and valuable.