Whether they’re plain as day or hiding in plain sight, signs it’s time to rebrand can be just about anywhere. Often the first sign is that you’re wondering if a rebrand is necessary! Whatever eventually impels you to reach out to a branding firm, you can rest assured you’re making the right decision. With the amount of measurable benefits that come with rebranding, the investment is likely to pay off many times over.
Here are some signs it might be time for your tech company to consider revisiting its brand platform:
Your company has had the same name and logo for decades, even though your services have evolved
Ask yourself-- does your logo still represent your company? A great idea 15 years ago may not still be a good idea today, in fact, most times they’re not. Times are changing, should your brand image change too?
You’re launching a new product or service
If you’re launching a new product or service that can alter the way your company executes business or relates to consumers, it’s important that the perception of your company is transparent with your targeted audience. Make the services you provide clear, or risk being swept under the rug as other competitors
Prospects don’t understand what you actually “do”
Your brand image should be a solid representation of the services and/or products you offer. If potential clients and customers don’t understand what you can offer them, how can they be certain that you will be able to fulfill their needs?
You’ve recently merged with or acquired another company
Mergers and acquisitions is always a good time for start thinking about rebranding opportunities. All too often brands fail to consider how important it is to seamlessly merge companies in a way that reflects the services or products they sell. Failure to do so will cause companies to suffer from the effects that come with a lack of brand alignment.
New competitors have popped up and everyone seems the same
With the emergence of technology, it has made it a million times harder for brands and companies to break through the noise and stand out to consumers. Leverage your brand’s image to differentiate yourself from competitors.
You’ve had some bad PR in the past and need to distance yourself from the negativity
In the era of technology and social media, a brand crisis can happen within seconds-- or within the time it takes to string together a badly worded tweet. Following a PR crisis, taking simple steps to rebranding is often the most effective remedy to distance your company from the negative press.
You’re struggling with attracting top talent
It’s a simple concept-- the best talent wants to work at the best brands. If you’re having trouble recruiting top candidates, consider taking the necessary steps to redefine your company within your industry.
You want to connect with a new audience
As time goes on, your target audience and demographics will shift as younger generations emerge. Understanding who is likely to utilize your products or services and adjusting as they change is in good business. Understanding your fluid audience is crucial to staying afloat.
You want to raise your prices
The value of brands and their services or products ultimately boils down to consumer perception. Companies with a popular brand image can put a higher price tag than less popular counterparts in the market. If you are interested in raising your prices, rebranding might be for you.