It may be said that large corporations are in a better position to determine if they should rebrand or not. They have the finances and the expertise to rely on to help with this decision. Smaller businesses may not have these same resources and may feel that they have to rely on their own experience as to whether they rebrand or not. There are some metrics that they can use to help them come to a conclusion.
The Visual Look of the Company
A business owner needs to stand back and take a good look as to how the business is visually presenting itself. This means looking at the logo. The corporate colours have to be scrutinized. The overall design has to be reviewed.
The Verbal Presentation
How is the business described? Is the company name catchy, appropriate for the business, and identifiable? Is the messaging being delivered through different platforms grabbing the right attention and is offering something? Web copy has to be carefully analyzed.
What is the customer experience like. Are the right people in the right places in the company? Are their policies in place and does the customer service need an overhaul?
The scrutiny of these three important areas of the company may indicate that a rebranding is only necessary for one of these areas. But, all three of them must be operating at their highest potential.
Reasons for Rebranding
If the company is failing in the visual, verbal, or experience components there can be several reasons as to why which are indicators as to why rebranding would be the solution. Some of these reasons are;
- A new target market needs to be reached
- Major changes of what the business has to offer has changed
- There have been changes in the competition
- Customer wants and needs are now different
- The business components have become outdated
These are all metrics that can be used to help with the rebranding decision.