How do you know when you need to rebrand?

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Whether you want to change the theme of your ecommerce or redesign your business logo, here's when and why a rebranding may be necessary:

Your business has grown and is about to undergo changes: are you thinking of offering new products or services, entering new markets or changing your positioning? Rebranding can be the ace in the hole that will help you achieve your goal, especially if you plan to increase your current price range.
You want to target a new audience: when you started your business you had a certain market segment in mind , and then things just… changed. Nothing wrong with that, to target a new audience or to make sure your brand reflects your audience, rebranding can really be the right choice.
You have to get out of a period of crisis: sometimes business does not go as we hoped. In the best case, you are able to realize what changes need to be made, and it is good that the image of your company reflects those changes, so that customers realize, even visually, the change of direction.
It's time for a refresh: keeping up with the latest market trends is the basis of any successful business. Sometimes, especially if your brand has been established for some time, this may mean a refresh of your corporate identity.
Oh, and of course we talk about rebranding also in the case of mergers or acquisitions of the company. In these cases, rebranding is almost necessary, to communicate the change to customers.

This is the case of Stocard, an app acquired in July 2021 by the Klarna singapore email list group, which has undergone a complete restyling starting with the logo.

rebranding of stocard

How to rebrand
Well, let’s say that for any of the reasons we just talked about, you’ve decided that it’s time for your business to give it a good rebrand.

Where to start?

Here's how to rebrand:

Set your business goals
Analyze your competitors
Calculate the budget to invest
Choose the right moment
Inform your audience
1. Set your business goals
You might think that if you have decided to rebrand you already know what goals you want to achieve, but be careful not to underestimate this phase.

Putting your business goals down on paper will help you not to forget anything and to plan your strategy more comprehensively.

Furthermore, this stage can also be useful for planning how you intend to approach the next stages of your rebranding.

Analyze your competitors
Competitor analysis is essential for any business at any time of its operation, but if you want to rebrand this activity takes a particular turn.

Whatever the reason you decided to rebrand, one of your goals will be to improve the image of your business.

As a result, the image that your competitors have in your target market will have a direct impact on your rebranding.