Many businesses evolve over time as new products and services are added or locations are expanded. This can lead to a disconnect between your original brand image and what your organization looks like today. Ask yourself if your brand truly reflects your current business model. If not, it’s time for a rebrand.

Rebranding is more than a new logo or complementary colors. It provides the opportunity for your organization to pivot, assess your offerings and re-examine your philosophy. Nintendo started as a card company before changing their product to toys and ultimately growing into a video-game giant. If you want your organization recognized for something other than what you used to do, a rebrand is in order. 

Before Old Spice became known for its humorous commercials, the brand lagged behind in the market share race. After internal research revealed most customers of Old Spice products for men were women, it was clear the slogan “The original. If your grandfather hadn’t worn it, you wouldn’t exist” was missing the mark. The new campaign and slogan “the man your man could smell like” more accurately targeted their consumers.

Whether your customer base has changed or thorough research of audience demographics, interests and behaviors shows you could potentially capture more profit if you pivot, a rebrand is a great strategy.

Even if you had the trendiest design team and the hippest copywriters burning oil to launch your brand, times change. Brand trends once revolutionary have been left behind. Technology has grown so fast in the last 10 years that organizations must adapt. Do your brand’s elements translate well to mobile users? Does your logo appeal to your target audiences? You can still communicate tradition and history with updated brand standards. However, if your organization’s logo, message and other branding elements are part of another decade, consumers may see your organization as out of touch.

In a world where 64 percent of consumers cite shared values as influencing their choice in brands, first impressions in a new market are critical to an organization’s continued success.

If your brand’s values don’t mesh with your new market’s, you could miss a large portion of the market share by not rebranding.