In a dynamic and ever-evolving business landscape, a brand’s identity must remain relevant and resonate with its target audience. Once a brand is established and gains traction in the marketplace it is tempting to leave it unchanged. However, even the most successful brands can reach a point where a refresh is not only beneficial but necessary. In this blog post, we will explore the pivotal aspects of refreshing your brand – when to consider it, why it’s crucial, and how to execute the process effectively.
When to Refresh Your Brand
The developments which result in a brand coming to the point where it needs a refresh can be very individual to a particular company, but there are a few common catalysts that we see on a regular basis:
Changing Market Dynamics
A shifting market landscape can impact how your brand is perceived. If your target audience’s preferences or behaviours have evolved, it might be time to adjust your brand accordingly. Or conversely if you are trying to go after a new market segment, it might be that your existing brand isn’t flexible enough to incorporate this.
Growth and Expansion
As your business expands into new markets or introduces new products/services, a brand refresh can help ensure consistency while accommodating new offerings. In particular, when acquisitions take place, there may be a new corporate structure that means there are additional sub-brands or sister companies within the overall family.
Relevance and Resonance
If your brand feels out of touch with the current cultural or societal climate, a refresh can help reconnect with your audience and stay relevant. Design tastes also change over time and what looked current when you created your brand, may look out of date now.
Why a Brand Refresh is Crucial
Although brand refreshes can be expensive, they are often a crucial element of long term business success and can also revive flagging businesses. Here are just some of the reasons why you should consider a brand refresh:
As newcomers enter your industry, it is important to review your brand in terms of the new dynamics this creates. A refreshed brand demonstrates your willingness to adapt, which can mean the difference between keeping competitive or struggling in a fast-paced marketplace.
Evolving Audience Expectations
As consumer expectations change, your brand needs to evolve to meet those expectations and maintain a meaningful connection. This doesn’t always have to be a radical change – you only have to look at how the Google logo has evolved over time to see how subtle changes can help to keep a brand modern.
A brand refresh can reignite interest in your business, capturing the attention of existing customers and attracting new ones. So revisiting your brand isn’t just a strategy to consider when your business is flying high, it can help to get you back on track when sales are plateauing.
How to Execute a Brand Refresh
Like any marketing strategy, it is important to do your research and not rush into anything when it comes to executing a brand refresh. Some groundwork at the outset will pay dividends in terms of ensuring your refreshed brand stands the test of time. The following stages are a good starting point if you are considering a brand refresh for your business?:
1.Conduct a Brand Audit
Evaluate your current brand elements – from your logo and colour palette to your messaging and online presence. Identify what’s working and what needs improvement.
2.Define Your Goals
Clearly outline your objectives for the brand refresh. Are you aiming to modernise your image, reach a new audience, or highlight a new product line?
3.Understand Your Audience
Conduct research to understand your target audience’s preferences, values, and expectations. This insight will guide your brand refresh decisions.
4.Refine Your Brand Identity
Make deliberate changes to your brand elements based on your research and goals. This may involve tweaking your logo, updating colours, or refining your tagline.
5.Develop New Messaging
Craft a refreshed brand message that aligns with your updated brand identity. Ensure it resonates with your audience and effectively communicates your value.
6.Update Marketing Collateral
Apply the refreshed brand elements to all your marketing materials, both online and offline, to ensure consistency across touch points.
7.Communicate the Change
Announce your brand refresh to your audience, explaining the reasons behind the change and the benefits it brings. Transparency fosters trust.
8.Train Your Team
Educate your team about the updated brand identity and messaging, ensuring that everyone is aligned and consistent in their communication.
A brand refresh is not just about changing your logo or colours; it’s a strategic process that involves evaluating your brand’s place in the market, considering the expectations of your audience, and making deliberate changes to remain relevant and competitive. By recognising the right time to refresh your brand, understanding why it’s necessary, and executing the process effectively, you can set your business on a path toward continued growth, resonance, and success in an ever-changing business landscape. If you would like help in evaluating your current brand and some expert advice as to whether the time is ready for a refresh, get in touch with the Volume branding team.