Often companies will find themselves asking is it time for a new brand identity? An update of our existing brand? Or just stick the to the status quo?
The answer is not actually straightforward (no pun intended) because every brand means something different to every company. So here are a few tips to help you decide if it’s time to take a look at your brand…
1 – Step back
When you are working in the same company and the same environment on a daily basis it is easy to lose sight. In the 1960’s Theodore Levitt (a Harvard Business School professor) called this ‘marketing myopia’ and explained how the US railroads had failed to look outward at changing trends and this had lead to them continuing down the same track they had always followed – pun intended.
Well this concept can be applied to any business both small and large, losing sight of the big picture can easily lead to a business becoming stale and chasing their own tail – particularly with regards to branding.
So when appraising your brand you need to step back. Look at things objectively and see the big picture. If you were a customer how receptive would you be to your own brand vs your competitors?
Doing this should help shape a more rounded and accurate perception of your company and help form your decisions when considering a new brand identity.
2 – Remember your brand is more than a logo
A brand is more than just the sign above your door, it is the sum of your tangible assets – logos, slogans, advertisements etc – and intangible assets – customer brand loyalty, market presence and the way your brand makes people feel – combined.
Having great brand design and styling goes a long way, first impressions count, but once this impression has been made it is the intangibles that make the difference, if a rebrand is needed maybe it needs to be more than just skin deep? And a fresh new look may be the boost you need to achieve this.
3 – Ask your customers
Valuing and learning from customer opinion is the key to most areas of marketing and in terms of brand this is no different. Gathering customer feedback formally (via questionnaires – SurveyMonkey is a great way to do this…) and informally in conversation, can be a good way of working out the things you are doing right and where you need to improve.
Different customer segments will respond differently, older generations may prefer the concept of service and reliability whilst brand-conscious millennials will want a brand that looks good – and this is exactly why gathering customer feedback that is unique to your business is so important.
So in summary considering these points will help you answer whether it is time to refresh your brand is stick to the tried (or tired) and tested, but at the heart of whichever conclusion you reach should be your brand and what it stands for.