Should I Rebrand or Start From Scratch?

As a business owner, you may encounter a moment when you need to decide whether to rebrand or start from scratch. While both options have their advantages and disadvantages, the final decision should be based on several factors that you need to consider. There are several reasons why you should rebrand or start from scratch, along with the steps you need to take to make your decision.

why would a business want to rebrand?

Rebranding involves changing the name, logo, messaging, and overall branding of your business. Here are some reasons why you may choose to rebrand:

Outdated Messaging and Visual Identity

If your branding has not been updated for a long time, it may start to look outdated or irrelevant to your target audience. Rebranding can give your business a fresh new look and help you attract new customers.

Negative Reputation

Sometimes, a business may experience negative publicity or a scandal that damages its reputation. Rebranding can help your business distance itself from these negative connotations and regain the trust of your customers.

Expanding Your Business

If you’re expanding your business, rebranding can help you communicate your new offerings or target audience better. For example, if you’re a graphic design agency that’s expanding to offer website development, you may want to rebrand to reflect your expanded offerings.

Why Should I Start From Scratch?

Starting from scratch involves completely starting over with a new business idea, name, and branding. Here are some factors that may prompt you to consider starting from scratch:

Burnout

If you have been running the same business for a long time, you may experience burnout and lose your passion for what you’re doing. Starting from scratch can give you the opportunity to pursue a new business idea that you’re more passionate about.

Irreparable Damage

In some cases, your business may have experienced irreversible damage or failure. Starting from scratch may be the best decision if you cannot recover from this damage or if the business no longer aligns with your goals.

Change in Direction

If you’re changing the focus of your business significantly, starting from scratch may be the best decision. For example, if you’re changing from a B2B model to a B2C model, starting from scratch can help you communicate this change more effectively.

How to Make the Decision on Choosing to Rebrand or Start Over:

To make the decision between rebranding or starting from scratch, here are some steps you need to take:

1. Define Your Goals

First, define your goals for your business. Consider what you want to achieve and what challenges you’re facing. This will help you determine whether rebranding or starting from scratch is the best way to achieve your goals.

For example, if your goals are to get into an entirely new marketing while keeping your current brand/business operational, you’ll definitely want to start a whole new company to tap into that market! However, if your simply expanding your services to a new city or a new department in your current field, a simple rebrand could do the trick for you!

I maintain & support Virginia Construction Group’s website, and this company has four daughter companies, all under the banner of “The Virginia Construction Group.” As they grew their business, they realized that it was better to have a many separate businesses to focus on different aspects in the construction world: concrete, pipe laying, water treatment, commercial areas, etc.

For your business, you need to look at your goals and the direction that you want to take over the next handful of years! Once you do that, you can move onto the next step.

2. Analyze Your Current Brand

Analyze your current brand and determine what is working and what isn’t, including both your digital and print collateral.

If there are aspects of your current brand that are still effective, you may want to consider rebranding instead of starting from scratch, but if your current brand isn’t prepared to step into a new market, you could end up doing more harm than good to your current brand’s reputation!

3. Conduct Market Research

Market research is a fancy way of saying, “research your customer base, see if they respond well to your current company and services, and figure out if what you are currently doing is working.”

Conduct market research to determine what your target audience thinks about your brand. This will help you determine whether rebranding can improve your brand’s perception or if starting from scratch is necessary to attract new customers. Market research involves performing SEO keyword research, obtaining competitors’ web statistics, and comparing the local authority with other businesses in the area.

4. Compare Costs

Compare the costs of rebranding and starting from scratch. Determine which option is more cost-effective and feasible for your business. Many times, a full redesign is not required; you need an SEO strategy instead.

The best way to determine if you need a full rebrand or simply focus on your SEO is to ask someone who knows the game! Click the button below to get in touch with me where we can audit your website and see if you need to move in a completely new direction or if you simply need to focus more on your content.

5. Make a Decision

After considering all of these factors, make a decision on whether to rebrand or start from scratch. Ensure that the decision aligns with your goals and is the best decision for your business.

Is It Good to Rebrand Yourself?

Rebranding can be good if you are looking to modernize your image, reach a new target audience, or distance yourself from a negative reputation or bad publicity. Rebranding can give your business a fresh start and help you to stay relevant in a fast-changing market.

However, rebranding can also be risky, as it involves changing the identity that your current customers are familiar with. It is important to ensure that your new brand still reflects your values and mission and that your existing customers are informed about the changes.

When should you not rebrand?

While rebranding can be a useful strategy for many businesses, there are situations where rebranding may not be the best decision. Here are some scenarios where you should avoid rebranding:

Strong Brand Recognition

If your current brand has strong recognition among your target audience and your name/logo are well-known, rebranding could actually harm your business as you risk losing the positive associations that people have with your existing brand.

Successful Business Model

If your business model has been a success and you are happy with your customer base and revenue, rebranding may not be necessary. It’s important not to change things just for the sake of it, and to avoid the risk of confusing or alienating your existing customers.

Lack of Vision

Rebranding requires a clear vision for an updated brand identity. If you do not have a clear plan, a rebranding can end up causing confusion and negatively impacting your business. It’s important to have a solid strategy in place before undertaking a rebranding.

Limited Resources

Rebranding can be costly and time-consuming, and if you have limited resources, it may not be feasible. Only rebrand if you have the budget and capacity to do it properly, without negatively impacting the day-to-day operations of your business.

Overall, the decision to rebrand should be based on a thoughtful analysis of the potential benefits and risks, aligned with your business objectives and resources. If you lack the vision, resources, or have successful brand recognition, it may be best not to pursue a rebranding strategy.

More Tips on Branding

• Branding vs. Marketing. Is There a Difference?
• How Do I Know If My Marketing Is Working?

Should I Rebrand or Start From Scratch?

Rebranding or starting from scratch can be a big decision for your business. Ultimately, the decision should be based on your goals and objectives for your business. Take the time to analyze your current brand, research your target audience, and compare costs to make an informed decision.

Whether you’re rebranding or starting from scratch, remember that the decision can have a significant impact on your business’s success in the long run.

Websites that I’ve built from Scratch for Businesses that were ready to put a new face forward:

• Taylors First Baptist Church Custom Website
• The Super Mom Life Custom Website & Blog
• Magitek Website
• Lakeland Tennis

Ready To Get Started On Your Rebranding Project?

If you are living in the South Bend area, and want to hire a local South Bend Website Designer, I’m your guy! Fill out the form below to get in touch!