It can be a scary prospect, but sometimes it’s time for your business to rebrand in order to stay fresh and relevant. It might be because you’ve changed what it is that you do, or maybe you just need a new image that reflects the person you are now. If this sounds like something you’re considering, let’s talk about how to know when it’s time for a rebranding and what kind of impact it could have on your business.

1. Your business model has changed

If you’ve changed your business model, it could be time to rebrand.

The most obvious sign of this is if you’re no longer selling the same product or service that you were when the company was first founded. For example, if a company used to sell t-shirts but now only offers customized printing services—and also sells other products—then they probably don’t need to change their branding much at all.

But if someone used to sell t-shirts for $20 each, then started offering custom designs for $50 each (a 50% increase), this would indicate that their business model has shifted significantly since their founding years, and thus may require some kind of rebranding effort in order for them meet current needs and expectations from customers who are still loyal customers despite those price increases over time (which means there’s still room for growth).

2. You’re seeing a drop in sales.

You’ve got a great product, and you’re doing everything right. But sales are dropping.

What’s going on? It could be that your company is just having a temporary dip in sales—something that will pass as soon as business picks up again. Or it could be something more serious: maybe your brand has lost its identity, or maybe customers aren’t getting the kind of value they expect from your product or service.

3. You can’t seem to get the right people to come through your doors.

You can’t seem to get the right people to come through your doors.

It is a common problem among small businesses, and it’s not just about attracting customers; it’s also about attracting employees. If you want your business to grow, you need to be able to attract the right people who will be interested in working for you—and then keep them around once they’re hired!

4. Your logo is outdated.

Your company’s logo is not only a reflection of your brand, but also an important marketing tool that can help you reach new audiences and grow your business. If you have an outdated logo, it may be time to redesign it to reflect something more modern—or even start fresh altogether!

Here are some ways you might want to update the look of your brand:

You’re changing products or services. A new product line or service requires a new look for your logo. For example: if you’re starting a restaurant, perhaps now would be the time for a change in how this part of the business looks (and feels) from its previous incarnation as “The Applebee’s” franchisee who hawked discount meals on Facebook during commercials breaks at night sports broadcasts across America until someone finally figured out what everyone else had known all along: that people are willing to pay more money for quality food when they know exactly what they’re getting into before ordering those discounted items from their favorite chain restaurants!

When it comes down between keeping with tradition versus making changes that could lead yourself toward greater profitability–it’s always worth considering both sides carefully before coming up with any final decisions.”

6. Your current branding reflects who you were or wanted to be, not who you are now.

Branding is not just about having a logo and colors on your website. A good brand reflects who you are as a business, what it stands for and what it offers to customers. A bad brand can cause customers to feel uncomfortable or confused about what it means to work with you.

A good brand should be consistent, relevant and authentic so that all of your communications convey the same message: “We’re here.” It should also be memorable enough that people remember who they’re talking about when they use one word names like “Quit Smoking” or “Get Rich Quick Scheme.”

Finally, any messaging around products or services must either be appropriate for those audiences—for example, telling children about smoking cessation won’t work unless there’s something else going on besides health problems caused by cigarettes—or shareable across channels (Twitter vs Instagram vs Facebook) without being diluted by too much information at any given time during conversation between two parties connected through some sort of social media platform (e-mail newsletter signup form).

7. Referrals are down, and word-of-mouth isn’t spreading as it was.

The second sign that your business may need a rebranding is if referrals are down, and word-of-mouth isn’t spreading as it was.

Word-of-mouth marketing is one of the most powerful ways to get new customers for your business because it’s free, reliable and targeted. It can also be used in conjunction with other forms of marketing like banner ads or email campaigns to increase visibility (and thus sales).

If you’re consistently getting less than 10% referral traffic from existing customers who were referred by someone else then there’s probably something wrong with how you’re doing things!

Rebranding can be a really good thing for a business, but there’s never a good reason to rebrand just for the sake of rebranding.

Rebranding can be a really good thing for a business, but there’s never a good reason to rebrand just for the sake of rebranding.

A rebrand is when you change your company’s name and logo. You might think that this sounds simple enough, but there are a few things to keep in mind before you make this decision:

• Do I Need To? – Asking yourself “Do I need to?” is one of the most important steps that you can take when deciding whether or not it’s time for your business’ identity overhaul. If your answer is yes, then great! Keep reading because we’ll go over why that should always be your first step before making any big decisions about what kind of branding strategy works best for YOU!

Conclusion

If you’re feeling like a rebrand is the right move for your business, then go for it! Just make sure that you take the time to do it right and really think about what you want to accomplish. And if all else fails, remember that there’s no shame in sticking with what works.