So when should you rebrand? The answer will vary for every company
Before you rebrand you need to know what rebranding includes and the reasons why you may want to do it.
Firstly what is Rebranding? It’s a marketing strategy in which a new name, term, symbol, design, or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors, competitors, and other stakeholders. Source Wiki
There are many reasons to rebrand and many levels of rebranding that a company can go through.
If you are just starting your business up then the branding process is what you would normally go through and should not expect to rebrand any time in the near future as it will take time for customers to hear and become familiar with your products or services.
Changes in direction
If you for whatever reason you decide that your business needs to move in a different direction then rebranding can be a solution to helping you enter into new markets.
If two or more companies decide to join forces they can either go under the umbrella of the largest company or they can merge and rebrand pulling in the best assets of each business and combining.
This is one of the hardest things to overcome, having bad relations with your customers and losing trust can end a business. Rebranding can help bring a business back from the brink of disaster is your current business is failing to meets the standards you have set out and the needs of your customers.
The rebranding will let you evaluate where you have gone wrong, what your new promise will be to your customers and it lets them know you are serious about making changes so they can rely on your company to provide what you said you would.
If you are looking to rebrand your business then take a look at our branding design services here.