Have you seen Robinhood's sleek new look by PORTO ROCHA? It's their second rebrand in 4 years, following COLLINS' work in 2020.

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This reminds me of an important question we get asked all the time:

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When is the right time to rebrand?

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Here are 5 key indicators that it might be time for a brand refresh, with real-world examples from fintech giants who've successfully navigated the rebranding waters.

1. Business evolution: You've outgrown your original offering

Has your business evolved beyond its initial product or service? If so, your brand might need to catch up. As startups grow, they often diversify their product lines or expand into new markets. This evolution can create a disconnect between the company's current offerings and its original brand identity.

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Robinhood's story: From a simple stock-trading app to a comprehensive financial platform offering crypto, retirement accounts, and more.

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Wise (formerly TransferWise): In 2021, TransferWise rebranded to Wise, reflecting its evolution from a money transfer service to a global financial platform.

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What it means for you: List your current offerings and compare them to your original brand promise. If there's a significant mismatch, it's time to consider a rebrand that reflects your expanded capabilities.

2. Audience shift: You're targeting a new demographic

Your target audience may have shifted or expanded since you first launched. As your business grows, you might find opportunities in unexpected markets or demographics. Your original branding, tailored to your initial target audience, might not resonate with these new potential customers.

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Robinhood's approach: Their 2024 rebrand aims to appeal to more seasoned investors, signaling a shift from their initial young, first-time investor base.

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Wise's global vision: In 2023, Wise unveiled a complete visual makeover, creating "a brand for everywhere." This shift reflected their evolution from serving expats and travelers to becoming "the world's most international account."

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Wise's CMO, Cameron Warboys, explained: "Our fresh look and feel is inspired by the millions of people and businesses that use Wise today. It draws on global currencies, languages, alphabets and places from around the world."

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Your takeaway: As your target market evolves or expands globally, your brand should evolve with it. Are you still speaking the language of your current (and future) customers, no matter where they are?

3. Market saturation: everyone's saying the same thing

In fast-growing industries, successful branding strategies are often imitated. What once made you stand out can quickly become the industry standard. When this happens, it's crucial to reassess your brand identity.

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Robinhood's challenge: As more fintech apps adopted a similar friendly, accessible style, Robinhood needed to differentiate itself.

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Wise's strategy: Their rebrand helped them stand out in the increasingly crowded international money transfer market. As Warboys put it, they aimed to create "a brand that is deliberately different," regaining their challenger spirit in an industry they've been disrupting since 2011.

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What to ask yourself: Look around your industry. If you're blending in rather than standing out, it might be time for a change. How can you visually represent your unique value proposition?

4. Product diversification: your brand doesn't fit your new offerings

As your product or service lineup expands, your original branding might feel restrictive or outdated. A brand that was perfect for a single product might struggle to represent a diverse portfolio.

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Robinhood's solution: The new brand identity flexes across their expanded suite of financial products, from stocks to crypto to retirement planning.

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Wise's adaptation: Their rebrand reflected their evolution from a simple money transfer service to a comprehensive international financial platform. The new brand accommodates their expanded offerings, including multi-currency accounts, business services, and their aspiration to "power money without borders for everyone, everywhere."

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What to ask yourself: Does your current brand identity have the flexibility to encompass all your products or services, even as you expand? Can it carry you into the next decade? If not, it might be time for a comprehensive refresh. A rebrand can provide the flexibility needed to showcase all your offerings cohesively. This might involve creating a more adaptable logo, developing a broader colour palette, or crafting messaging that can be easily applied across various product lines.

5. Industry maturation: from disruptor to established player

Many startups begin with branding that emphasises their disruptive, innovative nature. However, as the company grows and the industry matures, there's often a need to be perceived as more stable and trustworthy, particularly in sectors like finance or healthcare.

Robinhood's journey: The 2024 rebrand signals Robinhood's transition from a scrappy startup to a mature fintech player.

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Wise's evolution: Their rebrand helped position them as an established, trustworthy financial institution rather than just a fintech upstart.

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Your consideration: If your industry is maturing and you want to be seen as a serious, established player, your brand needs to reflect that. How can your visual identity and messaging convey stability and innovation simultaneously?

Wrapping up: It's not just about looks

As we've seen from Robinhood and Wise, rebranding isn't just about a new logo or color scheme—it's a strategic move reflecting growth, market position, and future ambitions. Whether you're a fintech startup in Singapore or an e-commerce platform in Jakarta, these principles apply.

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When was the last time you evaluated your brand's relevance? Is it time for a refresh?

At Unsensible, we specialise in helping Asian startups navigate these waters. We understand the unique challenges and opportunities in this part of the world. If you're wondering if it's time for a rebrand, let's chat. We promise to keep it real, relevant, and focused on your growth.