Every brand must eventually change. New trends, fresh innovations, and changing consumer tastes demand the evolution of your brand. However, the extent to which you change, and the steps you take to bring those changes to fruition, are entirely up to you. When you’re ready for a brand update, you can either opt for a brand refresh or a complete rebrand:
A refresh can enhance a brand that is already robust. An updated look helps you better appeal to your audience, and create a more focused message. This gives you a brand that is fresh and sharp, while allowing you to maintain your connection with existing customers. Businesses typically consider a brand refresh when:
- Their existing brand is still effective.
- They wish to maintain their current brand identity with their customer base.
- Their company needs a fresh, updated feel.
- They want to communicate enhancements to their products or services.
A brand refresh can be very subtle, or extremely noticeable. Brand changes you may want to consider include:
Freshen your logo.
You may decide to tweak, optimize, or even completely redesign your logo. Consumers want to do business with an up-to-date company, and a logo refresh demonstrates that you are evolving to keep up with the times.
Update your colors and fonts.
Expanding your color palette can breathe new life into your brand image, and updating your fonts gives your company a fresh new look. The colors and fonts you choose should support your core values and underlying personality.
Rewrite your tagline.
Your tagline, or slogan, helps to communicate the essence of your brand, and it should be refreshed from time to time. Ask yourself: Does it communicate who you are to your clients? Does it accurately reflect your company’s market position? Is it compatible with your growth ambitions?
Redesign your corporate identity pieces and marketing materials.
Your website, business cards, and brochures should be updated to reflect the refresh of your logo, tagline, colors, and fonts. Maintaining a consistent brand identity across all forms of media is a must.
Rebranding involves the total transformation of your brand. The goal is to influence public perception regarding your products or services, revitalize your brand, and ensure that it appeals to prospective customers. Businesses typically consider a rebranding strategy when:
- Their audience is changing.
- They wish to expand their offering of products or services.
- Their marketing methods are no longer effective.
- Their current identity is outdated.
To launch an effective rebranding strategy, you should:
- Identify your motivation.Before you begin, ensure that you know the business reason behind your rebrand. Are you looking to grow faster? Reach out to a new audience? Update your identity? Knowing your motivation will give your rebranding efforts direction and help you to focus.
- Research your market.Once you’ve identified your reason for rebranding, take a look at your current marketplace and clients. If you wish to expand into a new market, you should research that segment as well. Doing so will help you understand your brand position, competencies, and opportunities for growth.
- Determine how you’re different.Identifying and communicating factors that differentiate your business gives consumers a reason to choose you over your competition. Focus your attention on the aspects of your brand that make your business unique.
- Craft your new identity.Once you’ve identified your market position and focused on differentiation, it’s time to make structural changes to your brand. When establishing your new identity, you may consider making changes to the name of your company, your logo, your color scheme, marketing materials, and more.
- Launch your brand.Now it’s time to share your new brand with the world. Consider how you’re going to launch your brand internally, how you plan to encourage your staff to embrace it, and how you’re going to communicate your changes to the public.
Everyone knows that fashion trends change and eventually go out of style, but managers sometimes forget that the same thing can happen to their company’s branding. When the market or your audience changes - due to emerging competition, consumer tastes, or shifting trends - so can your brand’s appeal. However, the right brand refresh or rebrand initiative can give your company the strategic boost it needs.
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