1. There is risk involved. There definitely have been times when a new CEO comes in and changes everything, and it completely bombs. When you rebrand, you have to handle it very delicately with your community. The bigger your business, the more delicately you’ll need to handle it. A lot of times people get attached to things being a certain way so you really have to communicate the reasons for the changes well and make it a benefit to your prospects and your existing customers.
2. You need an outsider’s perspective. The truth is, you have a skewed perspective of your brand. But you’re not alone. It’s very, very difficult to see your own stuff. Case in point, I write for a living. I write copy for other companies with no problem but when it comes to my own branding… let’s just say, it’s a struggle–a massive struggle sometimes. I’m simply too close to my own work. That’s why I always get outside input whenever I’m making any substantial changes to my brand. An outsiders perspective brings clarity.

Yes! Absolutely! If your company needs to be refreshed a little bit, changing up the colors is a great way to do that.

I will warn you: there is a lot of strategy in choosing colors. If you decide to do this, make sure you do some research into color psychology. Don’t just pick colors because you like them or because you think your target market will like them. Do some digging, keeping in mind what you’re trying to project as a company, and choose your colors accordingly.

For example:

• Blue is associated with loyalty, conservativeness, safety, protection, etc. This is why a lot of lawyers, banks, and insurance firms use this color.
• Red is an intense color. It can be very alarming and eye-catching, and some say it can even make people angry. Yet it can also convey power, romance and other things people find very attractive.

Different colors evoke different emotions. Figure out how you want your audience to feel when they experience your brand, and then figure out which colors will facilitate that response.

1. Don’t choose something just because you feel like it or because you like it. You have to think about what your ideal clients like, want, and need from you. Do some research, then do some more, until you have a really clear understanding of where you’re at and where you need to go as a company.
2. Don’t do it alone. You need your team and, as I mentioned before, you need an outsider’s perspective. Trying to do this by yourself will be a disaster; I promise.
3. Don’t be cheap.

There are 5 main reasons a company might choose to change their name:

1. They have a bad reputation
2. They’re merging with another company. Often times a merger requires a brand update to reflect changes in leadership,  additional service offerings, new initiatives, etc.
3. They’ve outgrown their niche or are entering a new market.
4. They need to “level up” or modernize. Some of the biggest companies in the world originally had absolutely atrocious names.