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Is it Time to Rename your Company in 2021?

If 2020 has taught us anything, it is that the world — and small businesses in particular – are always changing.

Many small businesses have adapted fast in the last year, from breweries creating hand sanitiser to school teachers offering on-screen lessons, and merchants transitioning from taking cash solely to accepting contactless payments. From homemade face mask producers to takeaway-only eateries, we saw a slew of new enterprises spring up.

If you found a new firm this year, branding can help you transform it into a long-term success. If your firm has evolved since its inception, you can update your branding to demonstrate your adaptability, resilience, and new products to customers. If your product or service line has undergone significant changes, it may be time for a complete rebrand. A simple refresh, on the other hand, maybe a more basic alternative if you only want to update the look of your business.

The start of a new year is a great time to renew your brand – check out these 6 reasons to rebrand or refresh your business.

The following are the top six reasons to rebrand or refresh your company:

  • Your offers have been changed or improved.
  • You want your company to be future-proof.
  • Your logo appears is outdated.
  • Your branding isn’t distinctive.
  • You’re having trouble attracting new clients and customers.
  • You work in a different part of the country.

1. Your offers have been changed or improved.

Consider this scenario: you began as a private caterer and have since expanded to include weekly meal pick-up and delivery. Perhaps you started out selling garments and accessories and have now expanded your product line to include fashionable face masks. Maybe your company started as a seasonal enterprise but has since expanded to year-round operations. It could be time to update your logo to reflect your new offering if your present branding puts you in a box.

2. You want your company to be future-proof.

Over the last nine months, we’ve witnessed a slew of innovative new company ventures. How do you scale a timely business idea that has shown to be successful so that it remains relevant indefinitely? Make use of your branding to provide your small firm with a long-lasting image.

Perhaps you used your woodwork skills to start a handmade furniture service, filling a need in the market while furniture shops were closed and customers preferred to stay at home. Shops and stores should hopefully be reopened and lively soon… So, how can you ensure that your business strategy remains relevant indefinitely? A rebrand can transform your timely enterprise into something that can survive forever, whether it involves a name change (convert Chaz’s Woodworking Shop into Wood worked Furniture by Chaz) or an updated logo.

3. Your logo appears is outdated.

Your company’s logo should be a visual reflection of what it does. If your products and services have changed, you may need a new business brand to reflect this.

Aside from your business’s real offering, styles can alter as well. Your logo was undoubtedly current and expressed your own style when you first opened your doors a decade ago (and your business). However, the colour scheme, font, or design may now appear to be a little old. Consider updating your brand’s image with a new logo that incorporates current design trends.

4. Your branding isn’t distinctive.

A potential customer’s initial visual impression of your small business is frequently your branding… As a result, you must stand out.

When you first designed your logo and considered your own brand identity, you might have been influenced by one of your favourite brands. Taking design cues from companies you admire and respect is always a good idea, but make sure you’re unique enough to stand out. If your logo’s typeface or colour is similar to that of another company (especially one in your field), you might consider redesigning it.

5. You’re having trouble attracting new clients and customers.

Your brand may appear stale or obsolete if you’ve been delivering the same services and products to the same consumers for a long time. Even if you’ve been evolving to meet the needs of new customers, your branding may not show it.

It may be tempting to keep things the same to keep your present clients, but if you don’t make changes, you’ll never attract new customers – especially if your offering has evolved and you have the opportunity to connect with new people. When updating your logo, try to strike a balance between maintaining the integrity of your present brand and incorporating more modern design features. Your current clients should still be able to recognise your brand and know where to find you.

6. You work in a different part of the country.

Is your product in high demand in places other than your hometown’s local market, thanks to a popular TikTok or Instagram post? Have you expanded your delivery zone since your business began? Perhaps a recently developed e-commerce platform has made it easy for customers to shop from anywhere in the world?

If your audience has increased (congrats! ), you should take a step back and examine your branding from a different perspective. Consider how your brand would translate in a different location, whether it’s a neighbouring region or a different country.

Isn’t it time for a breather?

In some circumstances, a complete rebranding may not be necessary. Without totally revamping your brand, a brand refresh allows you to update images and refine your messaging. Consider changing your logo’s font and colours, as well as your tagline, to make it more contemporary. You may appeal to a wider, more current audience by modernising your brand. Brand refreshes can be a simple and inexpensive operation because no essential messaging needs to be changed.

Is it time for a rebrand?

You’ll need more than a new logo or even a new name if you decide your company needs a rebrand. Consider creating a new catchphrase or motto, as well as new typefaces and colours to utilise in branded materials (such as your website, social media postings, and in-store signage).

Whatever you choose, be sure you spread the word.

It’s critical to get the word out about your new brand identity, whether you opt to rebrand or renew it. Send consumers postcards exhibiting your new appearance, make an eye-catching TikTok video or Instagram post announcing your rebrand, or send an instructive newsletter to your email subscribers announcing your makeover.

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