4 Tell-Tale Signs You Need to Rebrand
There’s a lot of work out there all about building up your brand as it currently stands. But what about when you need to break it all down?
You’re a few years deep into your work. You’re a freelance writer, an entrepreneur, maybe you’re a social media influencer. Things are going pretty well…but all of a sudden, it seems you’ve hit your sticking point. Things aren’t working anymore, and you can’t quite put your finger on what is going on, or why.
You’re losing clients. you’re losing the same level of engagement you had at the onset. You aren’t going viral as much as you were in the early days, and it seems your audience is growing tired of you. Is it time to throw in the towel?
What you need, my friend is a rebrand.
The exact thing happened to me a year ago. Things were going well for my business. More followers, more users, more mention by popular influencers and brands. Then…nothing. For months I couldn’t understand what was going on until my ever-brilliant branding and marketing manager uttered the words to me.
You need to rebrand.
For those of you on the brink of throwing in the towel and letting go of your business or brand, don’t do it yet. You likely need a rebrand — but it’s also important you recognize the signs before it’s too late. The quicker you know what to look for, the quicker you can take steps to give your brand a fresh overhaul to keep you on top.
You’ve lost your competitive edge
Competition is fierce nowadays.
For everyone one of you, there are at least a thousand others interested in doing what you do. There’s probably at least a hundred people doing it better than you do — whether it be writing, marketing, or selling. Making sure you have a competitive edge through a key-value offering is crucial for survival. Even more crucial is your capacity to develop your key value offering when your original offering becomes redundant.
Maybe when you first started writing, your key value offering was strictly ghostwriting content in a very specific industry — have you considered expanding your services to include other niches when you found your client list drying up? Maybe your fintech startup originally offered young people the ability to round off their purchases to the next dollar and deposit it into a savings account — have you considered developing the technology to help them invest their savings in real-time? Perhaps when you forayed into influencing on social media, you reposted inspirational quotes about productivity — maybe you should diversify your content with unique practical tips that can be saved by consumers.
When you’ve lost your competitive edge, the qualities that differentiate you from others within your market, it’s almost certainly time to rebrand.
Your business model has changed
When you first started your business, you were a diehard direct-to-consumer type business, nothing more and nothing less. But, as you’ve gained a bigger following and more experience, it just doesn’t feel right to sell services at a flat rate. You have a wealth of content that could easily be converted into an online course, which could bring you another passive income stream.
Perhaps you’re even considering some form of subscription service for your service, and a freemium model would be better suited for your goals. If you find you are on the brink of changing your original business model, don’t fight it — rebrand.
When you naturally transition out of an initial business model, or you find that it’s no longer working for you or your needs, it’s a surefire sign that you may need to consider rebranding, even partially, to make this part of your offering.
You’ve grown up
Maybe you started in the game pretty young. I started putting myself out there in the social media world as an influencer before I fully hit my 20s. My brand was all about education, but as I’ve grown and left full-time education, it didn’t make sense anymore. Both myself and my audience have grown up — and that’s okay. I pivoted towards a more mature brand that centres around personal growth, writing, and entrepreneurship. You don’t have to disappear like those child superstars you never hear about until they randomly pop up 20 years down the line — rebrand.
Think about the things you and your brand stand for at this moment, and compare this to the past few years. What about your life has changed, and how is it more relevant to your brand? How can you pivot so that your online and offline footprint matches this? Don’t resist the changing tide — if you’ve grown up, your brand needs to grow up too.
You need to pivot away from negative associations
Had a scandal recently?
We’ve certainly entered the age of cancel culture. One mistake and your brand could blow up into smithereens, torn to pieces by the very consumers you are trying to engage with. Perhaps it’s not as dramatic as that — it could be failure to comment on a specific episode, consistently poor customer service, or poor delivery on a product. You don’t have to take yourself out of the race just yet. If you find that certain negative associations made with your brand are hindering your capability of progressing, a rebrand could give you the much-needed clean slate.
It signals to your consumers that you’ve heard them, are acutely aware of the impression you give off, and you’re ready to take that on board. It might just save you, especially if your audience is willing to give you the benefit of the doubt.
Rebranding is not always an easy business, but it’s a great opportunity to ensure your brand remains timeless and relevant. Registering the signs that you need to rebrand could save you both time, money, and effort in the long run. It could mean the difference between the life and death of your business.
Catch the signs early, and pivot.