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We took the step, but how do you know when is the right time to for a rebrand?

As you may have seen on social media, via our website or otherwise, Colourworks has just rebranded! We are extremely happy with the way everything has turned out and we’re excited to embark on the new journey. But rebranding our business wasn’t a decision made on a whim. It was a very intense process based on our strategy, purpose, our history and the direction in which we felt the business needed to go.

It also wasn’t a quick development. Lots of time went into making sure the rebrand elements were exactly what they needed to be in order to achieve the overall objectives of Colourworks. Numerous options were considered over many reviews. A lot of the time, it was a system of trial and error, using a process of elimination, all whilst considering everyone’s views, ideas and opinions.

Could your business do with a rebrand? Here are 5 good reasons why it’s time for a brand makeover:

1. Your business has grown

Over time many businesses may tweak their business models, change or add new services or products to stay competitive and profitable. Perhaps you’ve discovered that your business is now bigger, more mature and would achieve greater success in if it modified its offerings. If implemented properly, a change to the positioning and brand promise of your company could reap major rewards. Once you’ve developed you organisation’s new strategy and promise, rebranding can make your business’s new venture visible and for all stakeholders, allowing it a fresh new look in the marketplace as well.

2. Going global 

In some cases, rebranding is necessary so that a brand can also be used internationally. In certain countries, a brand name may conjure up the wrong associations. Organisations that sell the same products in several countries, but under different brand names, are also increasingly opting to use one brand internationally.

3. Keep up with the times

Sometimes a company needs a rebrand simply to stay fresh and relevant. 10 years is often the maximum timeframe for when a company may consider a rebrand. But if you think your brand will stand the test of time, maybe it just needs a light refresh. This maintains and celebrates the history and heritage of your brand, but shows your audience (current and future) that you are adaptive to change.

4. Stand out from the crowd

You may find something you have something in common with your industry competitors. Perhaps you’re all plumbing companies with blue logos that use the exact same font. So why not use a red logo with a fresher, sleeker font? Giving your brand a distinct, unique new look among your competitors could help you get an advantage and stand out from your competitors.

5. The market environment changes

Sometimes the need for a rebrand is not up to you or your business strategy. In an ever-evolving world, we need to adapt to drastic changes in the market order to survive in the industry. Kodak is a famous example of how digital innovations can force a rethink of brand promise and strategy, eventually calling for a complete rebrand. Consider potential innovations that are likely to occur in your industry’s environment, and decide whether anticipating those changes with a rebrand is necessary.

Whether your business wants to start afresh, or just needs a little boost, a rebrand could do wonders. It can also serve as a reminder of what your brand stands for and relook the reason the business exists. This is a good practice and a good way to keep your staff up to date with your company’s philosophy and ethos. But whatever your reason for a rebrand, it never hurts to step back once in a while and look at the bigger picture as far as your company is concerned.