If we’re being bluntly honest, most companies have many reasons to rebrand.
Most brands are meaningless. Often dependent on the cliches of the category.
A quick example: One of our Stealing Share strategists heard two separate bank radio spots.
They could not have been more identical if they tried.
Both said: “We care about the community.” Both said: “We’re here to help.” And, of course, both said: “We care.”
If those banks really looked hard at themselves and the competitive landscape, they’d see all kinds of reasons to rebrand.
How do you know it’s time to rebrand?
You're being ignored
Reasons to Rebrand - #1
That usually means there’s something wrong with your brand.
How do brands get noticed? By appealing to audiences emotionally, not rationally.
You're no different
Reasons to Rebrand - #2
Take that earlier bank example. They are not different from the competition.
Take an honest look at your brand messaging and ask yourself, “Are we saying the same things as our competition?”
Sacred cows remain
Reasons to Rebrand - #3
Many companies hold onto sacred cows like children. Things get taken off the table that brands refuse to consider changing.
Holding on to those sacred cows is an emotional decision. The logical decision would be to consider everything.
Reasons to Rebrand - #4
You are moving into a different sector. You’re not just about your core offerings anymore.
This is where great opportunity lies. Growth is always the aim with any rebranding effort.
Think about all the money you spend on marketing. How effective is it really?
Brand is the most cost-effective way to steal market share.