Should I rebrand or generate leads?
Should you rebrand or generate leads first? We see it all the time: we talk to a potential client about what advertising could do for their business, and their excitement grows as they think of the possibilities. After all, seeing the ways your business could grow is exciting! But sometimes that excitement sparks a new idea: if advertising is exciting, wouldn’t a rebrand be even more exciting? That would really shake things up, right? Maybe rebranding is all that stands between you and absolute success!
We totally get the impulse. And of course, there are times when a rebrand makes complete sense! But sometimes, what your business actually needs isn’t an expensive facelift, but something much simpler: more leads. Your money and resources are limited. It’s important to take the time to investigate what will give you the best return on your investment.
So if you’ve ever asked yourself: should I rebrand or generate leads? – this guide is for you. Here’s what you need to know.
When to rebrand your business
While we’d caution you from using a new look as a distraction, sometimes rebranding your company is the right choice. Usually, it’s a good idea if that rebrand is reflective of a deeper change. Here are some scenarios in which you might want to consider a rebrand:
If your company is changing its product or service
Sometimes, you must change course. If what your business has been doing for years just isn’t working, and you’ve decided to change what you do, a new logo and brand identity will help signal to customers that you’ve changed on a deeper level, too. If you started out selling products online, but realized that you would be better served by distributing products to local stores, it would make sense for your look to change – because, after all, you have changed!
You’re not attracting the right customers
If you have a target audience you’re trying to reach, and you’re consistently not hitting the mark, it might be time to think about why you’re attracting the wrong customers. And sometimes, that will mean you need to rethink your company’s look and feel. Your branding is the face you present to the world – you may need a different face to attract the right people. If your logo is dated and stale and you’re hoping to attract Gen Z, for example, that’s a scenario in which we would encourage you to rebrand. In a case like that, incongruent branding could have a real impact on your bottom line.
Your business is changing its philosophy
It’s completely natural for businesses to evolve over time. While you may have started out with a particular philosophy or goal, there’s a good chance your focus will shift as your business gets some years under its belt. Sometimes those changes are small, but other times, they can be dramatic. If you started out selling gas-powered lawn products and decided to switch to electric to help the planet, you would probably want new branding to reflect your new, greener goals. Your branding is what tells the story of your company – and if that story changes, your look and feel should change, too.
When not to rebrand your business
We would never discount the importance of having attractive, consistent branding (read our article here). However, switching up your branding isn’t right for every situation. It’s a large and expensive change, meant to be done thoughtfully and sparingly so as not to confuse your customer base. Here are some situations in which you might want to pump the brakes on overhauling your branding and instead focus on generating leads:
When you’re bored
We get it. You see your own logo all the time – it would make sense if you were sick of it. Shaking things up can feel exciting! But boredom is not a good reason to change your branding. For a reality check, do a little research on the branding of your competitors. If your branding is basically in line with what your competitors are doing, you’re probably just fine to hold off on a rebrand. If your logo sticks out in a bad way – say, it’s rocking the same Comic Sans logo you’ve had since 1996 – we totally understand wanting to change it. That’s a case in which rebranding makes sense!
But if your logo is more or less up to date, and you’re just bored with it, remember: you may see your own branding day in and day out, but your customers don’t. They’re almost certainly not sick of it, even if you are, and changing your logo isn’t going to be the thing that pushes them to make a purchase. In fact, changing your branding could negatively impact your brand awareness. You’d be much better served by investing money in generating leads and growth.
When your company is having internal issues
If your company is struggling internally, it can feel incredibly tempting to think that a rebrand will fix your issues (or at least motivate people to come together and work things out). But the fact is, if you find termites in your house, it would be foolish to focus your energy on painting the exterior. Branding is a very powerful tool, but it can’t fix structural problems.
When you can’t afford it
Let’s face it: branding is incredibly important, but quality design and copy don’t come cheap. If you’re struggling to keep your head above water, a rebrand isn’t going to save you. This is the perfect time to focus your time on generating leads. Rarely are things as simple as paying a designer for a new logo. Your business probably has a website, printed materials, and even a physical sign that may need to change. Not only do you need to change all of them, but you need to do it quickly so your brand stays consistent – after all, consistency builds trust with consumers.
Are you prepared to overhaul your business cards, stationery, company apparel, website, etc.? If you have a steady stream of cash, the answer may well be yes. But if the answer is no, you’d be better served by growing your business first. Once you’ve reached more stability, you can always rebrand in the future.
The bottom line: while rebranding can be great for your business, it’s not something to be undertaken lightly. There are more situations in which it doesn’t make sense than situations in which it does. It’s an expensive project, and often, you’d be better served by simply generating leads.