No one said that your brand can’t evolve with you, as your company grows, right? Establishing your brand likely took time and effort very early on, when you started your business. And, if you’re like most small business owners, this may have been the last time you delved deep into your brand. More and more companies are moving toward rebranding every so often to give their customers (and themselves) a new, fresh perspective on what their company and product represents. Leading brand strategists at Snowball Creative Group outline three reasons why rebranding can be a business booster and great for your business growth.
Your product or service has changed dramatically over time. Technology and evolving customer preferences naturally force businesses to adapt their products and services over time. If your brand may feel a bit outdated because it is based on your prototype product or a service that now looks very different to the customer, then it may be a great time to do a marketing refresh. Snowball Creative Group’s brand specialists recommend revisiting your brand and your marketing strategy, at least once a year. If you happen to be moving because you’ve outgrown your space or are adding new functions within the company, this can also be the perfect time to consider updating or relaunching your brand.
You’re losing traction with your target customer. Have your customer demographics changed substantially? Are they looking for products and services that you’re not offering? Is your brand not connecting with their values, needs or interests? These are great questions to ask yourself if you have found it hard to get new customers or maintain your existing client base. A brand refresh can be a great way to remind customers, old and new, about your company and use this as an opportunity to better convey how your business can help them in some capacity. If what you were doing, branding-wise was not working, now would be the perfect time to redefine your brand to bring clarity to increase your market share.
You’re doing amazing things that your customer’s don’t know about. When you first established your brand, as a startup, you may have framed your value proposition for customers very differently than you do now. Perhaps, you’ve become an environmentally-sustainable business, won awards, or implemented innovative procedures not used by other companies in your area or industry. These elements, since they’ve evolved later in your business, may not be 100% conveyed in your branding strategy or marketing materials. Taking a deep dive into your brand, every few years, is an effective way to ensure your brand is current and conveying the noteworthy highlights going on within your business.
The important thing to keep in mind is that your brand does not and should not be a stagnant concept. Your brand may need to evolve as your business changes and as customer preferences shift over time. Checking in, from time to time, to make sure your brand is accurately representing your business is the best way to stay ahead of your competition and continue to appeal to your target audience. If you’d like to review your brand with an expert brand strategist, contact Snowball Creative Group today for a complimentary consultation.