3 reasons NOT to rebrand your online business and the real reasons why you should

How many times have you wanted to change your logo, swap out your brand colors, or scrap the whole thing and start over? If you’re nodding your head, you are in good company. Most online business owners will update their brand in some form several times, especially in the first few years of business. But even though it’s common and sometimes necessary to update your brand, you have to be careful about HOW you do it and how often it’s being done. Strategic updates and changes to your brand can yield great value, but only if done well. Let’s dive into why you should rebrand and why you SHOULDN’T rebrand your business.

The difference between a rebrand and a brand refresh

Before we start talking about why or why not to rebrand, it’s important to really understand what a rebrand is. The term is often through around in the online space and can be a little confusing. When we are talking about making changes to your brand you can either consider a full rebrand or a brand refresh. A rebrand and a brand refresh are two different approaches to updating your brand identity, and the main difference between the two is the extent of the changes made to the brand.

A total rebrand typically involves a significant overhaul of your brand identity, including a new name, logo, color scheme, messaging, and positioning. It may also involve changes to your offerings, target market, and overall brand strategy. A rebrand is more of a dramatic change to your image or direction and shouldn’t be taken lightly.

On the other hand, a brand refresh is a less extensive update to your brand identity, aimed at giving it a more modern or relevant feel. It may involve refining the logo, updating the color palette, and revising messaging or taglines, but it usually maintains the same basic elements of the existing brand identity. A brand refresh is typically reserved for when you want to update your brand without completely changing your image or direction and is much more common in the online space.

Both can be effective ways to update your brand and stay relevant in a changing market, but the decision of which approach to take should be based on your goals and the extent of the changes needed.

Why NOT to rebrand your business

There are a lot of businesses that will rebrand their business when they could have been better served with a refresh. This could be due in part to the confusion around those words in the online space, but needing a full rebrand of your business is really pretty rare. Too often, businesses will enter a full rebrand for the wrong reasons.

Here are the top 3 reasons why NOT to rebrand your business.

You’re tired of your brand: Wanting something new and fresh for your brand isn’t a crime, but it shouldn’t be the reason you embark on a full rebrand. Remember a rebrand is a big change and if you are just bored with your current design you are better off with a small brand refresh than a total overhaul.
You’re distracted by trends: I know you see a lot of really cool things on the internet. But just because you see a pretty website or eye-catching color palette on someone else’s brand, doesn’t mean you have to flip yours upside down to compete. If you stay focused in your own lane you will be able to keep your forward progress and bypass the trends.
Your business isn’t making money: So this one is tricky because this could potentially be a reason to rebrand. But it doesn’t need to be the only reason. If your business isn’t making money, there could be several factors playing into it. The quality of your brand definitely has an impact on your revenue but it could also be due to your offerings not aligning with your audience, your marketing missing the mark, or your messaging being confusing. If this is why you’re considering a rebrand, I’d encourage you to dig deep into all aspects of your business to make sure your brand is the piece that needs to be updated.

Rebranding can also be a time-consuming and expensive process that requires a lot of effort. You’ll need to research new brand ideas, work with designers and marketing professionals, update all of your marketing materials, and communicate the change to your customers.

This can take away from the time you could be spending on growing your business and serving your customers. If your business is already profitable and growing, it might not make sense to take on the time and financial risk of a costly rebrand.

The real reasons why you want to rebrand your business

Of course, there may be valid reasons why you should rebrand. Ultimately, the decision to rebrand should be carefully considered and based on a thorough analysis of the potential benefits and costs.

Here are 5 reasons why you SHOULD rebrand your business:

Shift in your business focus: If your small creative business has evolved and your products or services have changed, a rebrand may help communicate the new focus to your target market. This could help attract new customers and keep existing customers engaged.
Your branding is outdated and you’ve outgrown it: If your business has been around for a while, your branding may be outdated and no longer relevant to your target market. A rebrand can help modernize your business and ensure that it appeals to your audience.
Differentiation from competitors: A rebrand can help differentiate your business from competitors in your industry. If your current branding is similar to that of other businesses, a rebrand can help you stand out and attract more customers.
You changed your name or location: If your business has a new name or location, a rebrand can help signal the change to your customers and help establish a new brand identity for the business. BUT you also want to tread lightly with name changes too. Make sure there is a real reason behind the change.
You’ve picked up a negative brand reputation: If your online business has picked up a negative brand reputation, a rebrand can help create a new image for the business. This can help rebuild trust with existing customers and attract new ones.

Recap

Rebranding should not be taken lightly and should be carefully planned and executed. A total rebrand involves a significant overhaul of the brand identity, including a new name, logo, color scheme, messaging, and positioning, while a brand refresh is a less extensive update aimed at giving it a more modern or relevant feel.

Too often, businesses will enter a full rebrand for the wrong reasons, like being tired of their current brand or being distracted by trends. However, valid reasons to rebrand include a shift in business focus, outdated branding, differentiation from competitors, and a change in name or location.

Take Action

If you are considering a rebrand or refresh, look into more affordable options like the semi-custom premade brand identity kits to help you make those changes without breaking the bank.