Businesses aren’t static. They are constantly growing and evolving, much like babies growing into toddlerhood. As a business owner, it is your responsibility to be cognizant of your brand’s growth and fine-tune your brand presence accordingly. If you’re nodding an emphatic “yes” to any of the below, it may be time for a brand refresh.
1. Your target audience has changed.
In the earlier stages of founding a business, we tend to be less focused on reaching our target audience while we are frantically trying to meet our financial goals. Now that you’ve settled a bit more into your brand, you may be asking yourself – am I attracting the right customers? Am I building the community that I had envisioned before starting my business? If the answer is no, you may have to narrow down your target audience.
2. You are embarrassed to share your business card or website with others.
We’ve all been there – you’re exchanging business cards or website URLs with a potential client or collaborator, and you feel that tinge of shame wash over you. It may be the logo, color choices, the overall feel of the brand – you feel that what you have currently isn’t an accurate representation of your brand. If you find yourself in this predicament on a regular basis, it may be time for a brand refresh.
3. You want to raise your prices.
Sometimes, rising costs of materials or other expenditures may mean you have to raise your price to function as a healthy business. However, if the customer perception of your services or products doesn’t change, neither can your price point. Would you, for example, pay $2 for a donut that was previously $1? Probably not. But what if this new $2 donut came with rainbow sprinkles and a yummy glaze? You may be tempted. By rebranding strategically, you can reshape the way your customers perceive you and raise the asking price of your services or products accordingly.
4. Your brand feels constrictive.
This statement sounds a bit abstract but hear us out – have you ever felt like your brand presence has held you back from taking on new opportunities? Perhaps you wanted to work with a dream client but they went with another vendor, or you want to hire a new talent but you’re struggling to attract quality candidates. If your current brand presence is preventing your business from expanding in the way that you want it to, it may be time for a brand refresh. Shifting your brand narrative can open up a slew of opportunities and collaborations that can take your business to the next level.
5. You are blending in with the competition.
Small businesses and personal brands are cropping up at an unprecedented pace, and it can be easy to get lost in a sea of marketplace sameness. If you feel like your brand can be associated as “yet another (insert business type here)", it may be time for a rebrand. Reevaluate your unique value propositions by revisiting your brand’s origin story and what new perspective or added value it brings to the world.
6. Your brand has become overly complicated.
It happens to the best of us – in an effort to grow your business, you say yes to every collaboration and business opportunity that comes your way. You expand on your services and offerings to make yourself an attractive candidate in the marketplace. Before you know it, your business has become a hodgepodge of offerings with no unifying brand narrative. If you feel that your audience is often confused by what your brand offers, it may be time for a brand refresh.
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Here at The Denizen Co., we offer branding and rebranding packages for entrepreneurs who wish to refine their brand narrative. For more information, click here.