When should a tech or SaaS company rebrand instead of just refresh its identity?

A refresh makes sense when the strategy still works but the expression feels dated. A rebrand is usually the better move when the business itself has changed: you’re moving upmarket, entering new categories, launching new products, attracting a different buyer, or struggling to explain what makes you different.

If the problem is mostly visual, refresh it. If the problem is positioning, perception, or relevance, it’s probably time to rebrand.